Cinemark Holdings, Inc. (NYSE:CNK) Short Interest Update

Cinemark Holdings, Inc. (NYSE:CNK) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totalling 21,620,000 shares, a decrease of 8.6% from the August 15th total of 23,650,000 shares. Based on an average daily volume of 2,940,000 shares, the days-to-cover ratio is presently 7.4 days. Currently, 19.8% of the shares of the stock are sold short.

Cinemark Stock Performance

NYSE CNK traded up $0.02 on Wednesday, hitting $28.62. 1,806,068 shares of the company traded hands, compared to its average volume of 2,943,887. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 19.73, a P/E/G ratio of 2.12 and a beta of 2.36. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 6.23. The business’s 50 day moving average price is $25.62 and its 200-day moving average price is $20.92. Cinemark has a 52-week low of $13.19 and a 52-week high of $29.07.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.07 by $0.25. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The business had revenue of $734.20 million for the quarter, compared to the consensus estimate of $691.74 million. During the same period in the previous year, the business earned $0.80 earnings per share. The business’s revenue was down 22.1% on a year-over-year basis. Equities analysts expect that Cinemark will post 1.33 earnings per share for the current year.

Insider Transactions at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.19, for a total value of $679,750.00. Following the completion of the transaction, the insider now directly owns 204,729 shares in the company, valued at approximately $5,566,581.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Cinemark

Several large investors have recently made changes to their positions in the business. Point72 DIFC Ltd purchased a new position in shares of Cinemark in the second quarter valued at about $144,000. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Cinemark by 38.7% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after buying an additional 877 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Cinemark in the second quarter worth about $238,000. Susquehanna Fundamental Investments LLC lifted its position in shares of Cinemark by 5.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 108,988 shares of the company’s stock worth $2,356,000 after buying an additional 5,199 shares in the last quarter. Finally, Luxor Capital Group LP lifted its position in shares of Cinemark by 491.0% in the second quarter. Luxor Capital Group LP now owns 99,295 shares of the company’s stock worth $2,147,000 after buying an additional 82,493 shares in the last quarter.

Analyst Ratings Changes

CNK has been the subject of a number of recent analyst reports. StockNews.com lowered Cinemark from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Benchmark reissued a “buy” rating and issued a $23.00 target price on shares of Cinemark in a report on Monday, July 1st. Roth Capital raised Cinemark from a “hold” rating to a “strong-buy” rating in a report on Monday, June 24th. JPMorgan Chase & Co. lifted their price objective on Cinemark from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Finally, Macquarie lifted their price objective on Cinemark from $21.00 to $24.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $25.20.

About Cinemark

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.