Cinemark Holdings, Inc. (NYSE:CNK) Short Interest Down 6.2% in January

Cinemark Holdings, Inc. (NYSE:CNK) saw a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 24,060,000 shares, a decline of 6.2% from the January 15th total of 25,650,000 shares. Based on an average daily volume of 2,340,000 shares, the short-interest ratio is currently 10.3 days. Currently, 22.0% of the shares of the stock are short sold.

Cinemark Stock Down 13.7 %

NYSE:CNK opened at $28.53 on Thursday. Cinemark has a 52 week low of $15.74 and a 52 week high of $36.28. The stock’s fifty day moving average is $30.44 and its two-hundred day moving average is $29.76. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 18.41 and a beta of 2.38. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46.

Cinemark (NYSE:CNK) last posted its earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). The firm had revenue of $814.30 million for the quarter, compared to analyst estimates of $797.18 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. Cinemark’s revenue was up 27.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.15) EPS. Research analysts anticipate that Cinemark will post 2.08 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on CNK shares. Wells Fargo & Company dropped their price objective on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, November 10th. Barrington Research reiterated an “outperform” rating and set a $40.00 price objective on shares of Cinemark in a research note on Wednesday. Wedbush reissued a “neutral” rating and issued a $32.00 price target on shares of Cinemark in a report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cinemark from $29.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $33.20.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CNK. LPL Financial LLC lifted its holdings in Cinemark by 6.8% during the 4th quarter. LPL Financial LLC now owns 8,722 shares of the company’s stock worth $270,000 after buying an additional 556 shares in the last quarter. QRG Capital Management Inc. raised its stake in shares of Cinemark by 3.2% in the fourth quarter. QRG Capital Management Inc. now owns 17,730 shares of the company’s stock valued at $549,000 after acquiring an additional 557 shares in the last quarter. Natixis Advisors LLC boosted its holdings in Cinemark by 2.9% in the third quarter. Natixis Advisors LLC now owns 20,638 shares of the company’s stock valued at $575,000 after purchasing an additional 583 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in Cinemark by 3.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 16,270 shares of the company’s stock worth $504,000 after purchasing an additional 591 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased its holdings in Cinemark by 5.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,546 shares of the company’s stock worth $358,000 after purchasing an additional 618 shares during the period.

Cinemark Company Profile

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.