Cinemark Holdings Inc (NYSE:CNK) Sees Large Increase in Short Interest

Cinemark Holdings Inc (NYSE:CNK) was the recipient of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 12,451,651 shares, a growth of 16.4% from the February 12th total of 10,701,093 shares. Based on an average daily volume of 3,414,158 shares, the short-interest ratio is presently 3.6 days. Approximately 11.0% of the company’s shares are short sold. Approximately 11.0% of the company’s shares are short sold. Based on an average daily volume of 3,414,158 shares, the short-interest ratio is presently 3.6 days.

Wall Street Analysts Forecast Growth

CNK has been the topic of a number of research reports. The Goldman Sachs Group reissued a “sell” rating and set a $22.00 target price on shares of Cinemark in a report on Thursday, February 19th. Barrington Research reissued an “outperform” rating and set a $32.00 price target on shares of Cinemark in a report on Thursday, February 19th. Benchmark reissued a “buy” rating on shares of Cinemark in a research note on Thursday, February 19th. Zacks Research raised Cinemark from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Cinemark from $37.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, January 22nd. Ten research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.08.

Cinemark Stock Up 0.0%

CNK stock opened at $26.40 on Tuesday. The company has a 50 day moving average of $25.25 and a two-hundred day moving average of $26.03. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 30.35 and a beta of 1.08. Cinemark has a 12-month low of $21.60 and a 12-month high of $34.01. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 4.74.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). Cinemark had a net margin of 4.44% and a return on equity of 34.11%. The company had revenue of $776.30 million for the quarter, compared to analysts’ expectations of $778.41 million. During the same quarter in the prior year, the firm earned $0.33 earnings per share. The company’s revenue was down 4.7% on a year-over-year basis. On average, equities analysts anticipate that Cinemark will post 1.93 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 17th. Shareholders of record on Tuesday, March 3rd will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, March 3rd. Cinemark’s dividend payout ratio is presently 41.38%.

Insider Buying and Selling

In other Cinemark news, EVP Melissa Thomas sold 7,944 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $26.05, for a total transaction of $206,941.20. Following the transaction, the executive vice president owned 159,416 shares of the company’s stock, valued at $4,152,786.80. This trade represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

Several institutional investors have recently made changes to their positions in CNK. Orbis Allan Gray Ltd increased its holdings in Cinemark by 31.0% in the fourth quarter. Orbis Allan Gray Ltd now owns 15,057,911 shares of the company’s stock worth $349,946,000 after buying an additional 3,563,810 shares during the last quarter. Wellington Management Group LLP lifted its stake in Cinemark by 8.4% in the fourth quarter. Wellington Management Group LLP now owns 9,536,900 shares of the company’s stock valued at $221,638,000 after acquiring an additional 742,307 shares during the last quarter. Lavaca Capital LLC bought a new stake in Cinemark in the fourth quarter worth approximately $133,045,000. Marshall Wace LLP increased its stake in shares of Cinemark by 758.9% during the 2nd quarter. Marshall Wace LLP now owns 4,497,305 shares of the company’s stock worth $135,729,000 after purchasing an additional 3,973,689 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Cinemark by 1.5% in the 4th quarter. State Street Corp now owns 3,950,606 shares of the company’s stock valued at $91,812,000 after purchasing an additional 60,176 shares during the last quarter.

Cinemark Company Profile

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.