Stock Traders Purchase Large Volume of Cinemark Put Options (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) was the target of some unusual options trading on Friday. Stock traders acquired 6,694 put options on the company. This represents an increase of approximately 226% compared to the average daily volume of 2,051 put options.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total value of $246,213.00. Following the sale, the insider now owns 147,414 shares in the company, valued at approximately $3,980,178. This represents a 5.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

Large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position 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 increased its stake in 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 purchasing an additional 1,601,537 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Cinemark by 100.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company’s stock valued at $127,159,000 after buying an additional 2,054,579 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Cinemark by 12.8% during the fourth quarter. Renaissance Technologies LLC now owns 3,801,578 shares of the company’s stock worth $117,773,000 after buying an additional 430,006 shares during the period. Finally, Marshall Wace LLP grew its holdings in shares of Cinemark by 14.5% during the fourth quarter. Marshall Wace LLP now owns 3,124,834 shares of the company’s stock worth $96,807,000 after buying an additional 396,720 shares during the last quarter.

Analyst Ratings Changes

Several research firms recently commented on CNK. JPMorgan Chase & Co. dropped their price target on shares of Cinemark from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Macquarie restated an “outperform” rating and set a $35.00 target price on shares of Cinemark in a research report on Thursday, February 20th. Barrington Research restated an “outperform” rating and issued a $40.00 price target on shares of Cinemark in a research note on Wednesday, February 19th. Benchmark lowered their price target on Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Finally, Wells Fargo & Company dropped their price objective on Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $32.70.

Cinemark Price Performance

NYSE:CNK opened at $26.14 on Friday. The stock has a 50 day moving average of $27.90 and a two-hundred day moving average of $29.50. Cinemark has a 12 month low of $16.32 and a 12 month high of $36.28. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28. The firm has a market cap of $3.20 billion, a P/E ratio of 12.88 and a beta of 2.41.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The company had revenue of $814.30 million during the quarter, compared to analyst estimates of $797.18 million. During the same quarter in the prior year, the company earned ($0.15) EPS. The business’s revenue was up 27.5% on a year-over-year basis. On average, analysts expect that Cinemark will post 1.93 earnings per share for the current fiscal year.

Cinemark Announces Dividend

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

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.