Short Interest in Cinemark Holdings, Inc. (NYSE:CNK) Declines By 11.8%

Cinemark Holdings, Inc. (NYSE:CNK) saw a significant drop in short interest in February. As of February 15th, there was short interest totalling 21,210,000 shares, a drop of 11.8% from the January 31st total of 24,060,000 shares. Based on an average daily volume of 2,800,000 shares, the days-to-cover ratio is presently 7.6 days. Approximately 19.4% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Several analysts have commented on CNK shares. Barrington Research restated an “outperform” rating and set a $40.00 target price on shares of Cinemark in a report on Wednesday, February 19th. JPMorgan Chase & Co. dropped their price objective on shares of Cinemark from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Wedbush reaffirmed a “neutral” rating and issued a $32.00 target price on shares of Cinemark in a research note on Tuesday, February 18th. Macquarie reissued an “outperform” rating and issued a $35.00 price target on shares of Cinemark in a research note on Thursday, February 20th. Finally, StockNews.com raised Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th. One investment 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $32.70.

Cinemark Stock Down 1.8 %

Shares of NYSE:CNK traded down $0.42 during midday trading on Thursday, reaching $23.34. The company had a trading volume of 2,026,060 shares, compared to its average volume of 3,086,480. The business’s 50 day moving average price is $29.33 and its 200 day moving average price is $29.74. Cinemark has a 1-year low of $16.32 and a 1-year high of $36.28. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 3.28. The stock has a market cap of $2.85 billion, a PE ratio of 11.50 and a beta of 2.38.

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

Cinemark Announces Dividend

The company also recently declared a — dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, March 5th. Cinemark’s dividend payout ratio (DPR) is currently 15.76%.

Insider Transactions at Cinemark

In other news, insider Wanda Marie Gierhart sold 9,119 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total transaction of $246,213.00. Following the sale, the insider now 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.30% of the company’s stock.

Institutional Trading of Cinemark

A number of large investors have recently added to or reduced their stakes in CNK. Vanguard Group Inc. lifted its stake in Cinemark by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 12,505,099 shares of the company’s stock valued at $387,408,000 after purchasing an additional 109,179 shares during the last quarter. Candlestick Capital Management LP lifted its position in shares of Cinemark by 48.1% in the fourth quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company’s stock valued at $152,782,000 after buying an additional 1,601,537 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Cinemark by 100.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company’s stock worth $127,159,000 after acquiring an additional 2,054,579 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Cinemark by 12.8% during the 4th quarter. Renaissance Technologies LLC now owns 3,801,578 shares of the company’s stock worth $117,773,000 after acquiring an additional 430,006 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in Cinemark by 14.5% in the 4th quarter. Marshall Wace LLP now owns 3,124,834 shares of the company’s stock valued at $96,807,000 after acquiring an additional 396,720 shares during the period.

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.