Cinemark Holdings, Inc. (NYSE:CNK) Short Interest Down 11.8% in February

Cinemark Holdings, Inc. (NYSE:CNK) was the recipient of a significant decrease in short interest in the month of February. As of February 15th, there was short interest totalling 21,210,000 shares, a decrease of 11.8% from the January 31st total of 24,060,000 shares. Based on an average daily trading volume, of 2,800,000 shares, the short-interest ratio is currently 7.6 days. Approximately 19.4% of the shares of the stock are short sold.

Insider Activity

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. LPL Financial LLC increased its stake in shares of Cinemark by 6.8% in the fourth quarter. LPL Financial LLC now owns 8,722 shares of the company’s stock worth $270,000 after buying an additional 556 shares during the period. QRG Capital Management Inc. increased 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 worth $549,000 after buying an additional 557 shares during the period. 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 acquiring an additional 583 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Cinemark by 3.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 16,270 shares of the company’s stock valued at $504,000 after acquiring an additional 591 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its holdings in Cinemark by 5.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,546 shares of the company’s stock valued at $358,000 after acquiring an additional 618 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CNK shares. JPMorgan Chase & Co. lowered their target price on shares of Cinemark from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. StockNews.com raised shares of Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, November 10th. Macquarie reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Cinemark in a research note on Thursday, February 20th. Morgan Stanley lowered their target price on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $32.00 target price on shares of Cinemark in a research note on Tuesday, February 18th. One investment 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.70.

Cinemark Trading Down 0.6 %

CNK stock opened at $23.63 on Friday. The company has a market capitalization of $2.89 billion, a PE ratio of 11.64 and a beta of 2.38. Cinemark has a one year low of $16.32 and a one year high of $36.28. The company’s 50 day moving average price is $29.20 and its two-hundred day moving average price is $29.70. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.96 and a current ratio of 1.01.

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

Cinemark Announces Dividend

The company also recently announced a — dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. Cinemark’s payout ratio is 15.76%.

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.