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

Cinemark Holdings, Inc. (NYSE:CNK) saw a large increase in short interest in June. As of June 15th, there was short interest totalling 28,060,000 shares, an increase of 7.6% from the May 31st total of 26,090,000 shares. Approximately 25.7% of the shares of the stock are short sold. Based on an average trading volume of 2,920,000 shares, the days-to-cover ratio is currently 9.6 days.

Institutional Trading of Cinemark

Several large investors have recently modified their holdings of the stock. Everence Capital Management Inc. acquired a new stake in Cinemark in the second quarter worth $328,000. Nut Tree Capital Management LP bought a new position in shares of Cinemark during the 1st quarter worth about $13,250,000. Comerica Bank grew its stake in shares of Cinemark by 36.4% in the 1st quarter. Comerica Bank now owns 68,261 shares of the company’s stock valued at $1,227,000 after buying an additional 18,198 shares during the period. Jericho Capital Asset Management L.P. bought a new stake in Cinemark in the 1st quarter valued at about $15,975,000. Finally, Kodai Capital Management LP raised its stake in Cinemark by 31.7% during the 1st quarter. Kodai Capital Management LP now owns 373,370 shares of the company’s stock worth $6,709,000 after buying an additional 89,875 shares during the period.

Cinemark Trading Down 0.5 %

CNK stock traded down $0.11 during midday trading on Wednesday, hitting $21.31. The stock had a trading volume of 1,119,629 shares, compared to its average volume of 3,016,089. The company has a current ratio of 1.48, a quick ratio of 1.45 and a debt-to-equity ratio of 7.42. The firm has a market cap of $2.61 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 2.02 and a beta of 2.36. The business has a fifty day moving average price of $18.21 and a two-hundred day moving average price of $16.83. Cinemark has a 1-year low of $13.19 and a 1-year high of $21.87.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.40. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The company had revenue of $579.00 million for the quarter, compared to the consensus estimate of $561.91 million. During the same period in the previous year, the business earned ($0.03) EPS. The firm’s revenue was down 5.2% compared to the same quarter last year. On average, sell-side analysts predict that Cinemark will post 1.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on CNK. StockNews.com cut Cinemark from a “hold” rating to a “sell” rating in a report on Thursday, May 30th. Roth Mkm upgraded shares of Cinemark from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $19.00 to $26.00 in a research report on Monday, June 24th. Wedbush restated an “outperform” rating and issued a $25.00 price target on shares of Cinemark in a research report on Thursday, June 27th. Roth Capital upgraded shares of Cinemark from a “hold” rating to a “strong-buy” rating in a report on Monday, June 24th. Finally, Barrington Research reissued an “outperform” rating and issued a $24.00 price objective on shares of Cinemark in a research note on Monday, June 17th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.33.

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.