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

Cinemark Holdings, Inc. (NYSE:CNK) saw a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 24,300,000 shares, an increase of 6.0% from the November 15th total of 22,930,000 shares. Based on an average daily trading volume, of 2,510,000 shares, the days-to-cover ratio is presently 9.7 days. Approximately 22.2% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CNK shares. The Goldman Sachs Group increased their target price on shares of Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a report on Thursday, September 19th. Morgan Stanley boosted their target price on Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Macquarie increased their price target on Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Barrington Research upgraded shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price on the stock in a research note on Thursday, October 31st. Finally, Wells Fargo & Company lifted their price target on shares of Cinemark from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.80.

Cinemark Stock Performance

Shares of Cinemark stock traded down $0.61 on Tuesday, hitting $31.56. The stock had a trading volume of 1,963,822 shares, compared to its average volume of 2,829,965. The company’s 50 day moving average price is $31.38 and its 200 day moving average price is $26.56. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 1.66 and a beta of 2.38. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.46. Cinemark has a 52-week low of $13.19 and a 52-week high of $36.28.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.61. The business had revenue of $921.80 million during the quarter, compared to the consensus estimate of $894.90 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.61 earnings per share. On average, research analysts anticipate that Cinemark will post 2 EPS for the current year.

Insiders Place Their Bets

In other news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total transaction of $817,000.00. Following the sale, the insider now owns 179,729 shares of the company’s stock, valued at approximately $5,873,543.72. This represents a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cinemark

Hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. increased its position in Cinemark by 6.8% in the 3rd quarter. Franklin Resources Inc. now owns 56,757 shares of the company’s stock valued at $1,651,000 after acquiring an additional 3,632 shares during the period. Castellan Group purchased a new position in shares of Cinemark in the 3rd quarter valued at approximately $6,130,000. Geode Capital Management LLC increased its holdings in shares of Cinemark by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,449,567 shares of the company’s stock valued at $68,209,000 after purchasing an additional 25,857 shares during the period. Luxor Capital Group LP raised its stake in shares of Cinemark by 2.9% during the third quarter. Luxor Capital Group LP now owns 102,200 shares of the company’s stock worth $2,845,000 after purchasing an additional 2,905 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Cinemark during the third quarter worth $474,000.

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.