Traders Buy Large Volume of Put Options on Cinemark (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) was the recipient of some unusual options trading on Friday. Stock investors acquired 6,694 put options on the company. This represents an increase of approximately 226% compared to the average daily volume of 2,051 put options.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CNK. Wells Fargo & Company reduced their target price on Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Benchmark reduced their target price on Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Macquarie reaffirmed an “outperform” rating and set a $35.00 target price on shares of Cinemark in a report on Thursday, February 20th. Morgan Stanley reduced their target price on Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Finally, Wedbush reaffirmed a “neutral” rating and set a $32.00 target price on shares of Cinemark in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cinemark has a consensus rating of “Moderate Buy” and an average price target of $32.70.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total transaction of $246,213.00. Following the completion of the sale, the insider now owns 147,414 shares in the company, valued at $3,980,178. This trade represents a 5.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Cinemark

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Cinemark by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 12,505,099 shares of the company’s stock valued at $387,408,000 after purchasing an additional 109,179 shares during the period. Candlestick Capital Management LP increased its position in shares of Cinemark by 48.1% during the 4th quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company’s stock valued at $152,782,000 after purchasing an additional 1,601,537 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Cinemark by 100.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company’s stock valued at $127,159,000 after purchasing an additional 2,054,579 shares during the period. Renaissance Technologies LLC increased its position in shares of Cinemark by 12.8% during the 4th quarter. Renaissance Technologies LLC now owns 3,801,578 shares of the company’s stock valued at $117,773,000 after purchasing an additional 430,006 shares during the period. Finally, Marshall Wace LLP increased its position in shares of Cinemark by 14.5% during the 4th quarter. Marshall Wace LLP now owns 3,124,834 shares of the company’s stock valued at $96,807,000 after purchasing an additional 396,720 shares during the period.

Cinemark Stock Down 1.1 %

Shares of Cinemark stock opened at $26.14 on Friday. The business’s fifty day moving average price is $27.90 and its two-hundred day moving average price is $29.49. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. The company has a market capitalization of $3.20 billion, a P/E ratio of 12.88 and a beta of 2.41. Cinemark has a 1-year low of $16.32 and a 1-year high of $36.28.

Cinemark (NYSE:CNK) last announced its earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.06). The business had revenue of $814.30 million for the quarter, compared to the consensus estimate of $797.18 million. Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The firm’s revenue was up 27.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.15) EPS. As a group, research analysts forecast that Cinemark will post 1.93 EPS for the current year.

Cinemark Announces Dividend

The firm also recently announced a — dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, March 5th. Cinemark’s payout ratio is currently 15.76%.

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.