Cinemark Target of Unusually Large Options Trading (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) was the target of some unusual options trading on Monday. Stock investors purchased 5,122 put options on the stock. This represents an increase of 91% compared to the average volume of 2,687 put options.

Cinemark Stock Performance

Cinemark stock traded up $0.81 during trading hours on Wednesday, hitting $30.47. The stock had a trading volume of 3,493,394 shares, compared to its average volume of 2,855,140. The company has a 50-day moving average of $28.09 and a two-hundred day moving average of $22.97. The company has a quick ratio of 1.26, a current ratio of 1.29 and a debt-to-equity ratio of 6.23. The company has a market cap of $3.73 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 1.94 and a beta of 2.36. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $30.69.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.25. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The firm had revenue of $734.20 million during the quarter, compared to analysts’ expectations of $691.74 million. During the same period last year, the firm posted $0.80 EPS. The business’s revenue was down 22.1% on a year-over-year basis. On average, equities research analysts anticipate that Cinemark will post 1.41 EPS for the current fiscal year.

Insider Activity

In other news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.19, for a total value of $679,750.00. Following the sale, the insider now directly owns 204,729 shares in the company, valued at $5,566,581.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Easterly Investment Partners LLC raised its stake in shares of Cinemark by 1.1% in the 1st quarter. Easterly Investment Partners LLC now owns 491,903 shares of the company’s stock valued at $8,839,000 after purchasing an additional 5,236 shares during the period. Texas Permanent School Fund Corp boosted its stake in shares of Cinemark by 1.5% in the first quarter. Texas Permanent School Fund Corp now owns 92,591 shares of the company’s stock valued at $1,664,000 after buying an additional 1,345 shares during the period. Mitchell Capital Management Co. boosted its stake in shares of Cinemark by 3.0% in the first quarter. Mitchell Capital Management Co. now owns 395,801 shares of the company’s stock valued at $7,113,000 after buying an additional 11,443 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Cinemark in the first quarter valued at approximately $1,865,000. Finally, Sei Investments Co. boosted its stake in shares of Cinemark by 38.1% in the first quarter. Sei Investments Co. now owns 115,124 shares of the company’s stock valued at $2,069,000 after buying an additional 31,739 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CNK shares. JPMorgan Chase & Co. raised their price objective on Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Morgan Stanley raised their price objective on Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Wedbush raised their price objective on Cinemark from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday. Wells Fargo & Company increased their target price on Cinemark from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Barrington Research lowered Cinemark from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.20.

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.