Cinemark Holdings, Inc. (NYSE:CNK) Short Interest Down 11.8% in February

Cinemark Holdings, Inc. (NYSE:CNK) was the recipient of a large decrease in short interest during the month of February. As of February 15th, there was short interest totalling 21,210,000 shares, a decrease 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. Currently, 19.4% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wedbush reiterated a “neutral” rating and set a $32.00 target price on shares of Cinemark in a research report on Tuesday, February 18th. Barrington Research reiterated an “outperform” rating and set a $40.00 target price on shares of Cinemark in a research report on Wednesday, February 19th. Macquarie reiterated an “outperform” rating and set a $35.00 target price on shares of Cinemark in a research report on Thursday, February 20th. JPMorgan Chase & Co. dropped their target price on shares of Cinemark from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Finally, StockNews.com upgraded shares of 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 assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $32.70.

Insider Activity at Cinemark

In other news, insider Wanda Marie Gierhart sold 9,119 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total value of $246,213.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CNK. Arrowstreet Capital Limited Partnership boosted its stake in shares of Cinemark by 100.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company’s stock valued at $127,159,000 after purchasing an additional 2,054,579 shares during the last quarter. Candlestick Capital Management LP boosted its stake in Cinemark by 48.1% during the 4th quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company’s stock worth $152,782,000 after acquiring an additional 1,601,537 shares during the last quarter. Maverick Capital Ltd. boosted its stake in Cinemark by 1,356.4% during the 3rd quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company’s stock worth $42,255,000 after acquiring an additional 1,413,557 shares during the last quarter. Simcoe Capital Management LLC bought a new position in Cinemark during the 4th quarter worth approximately $37,763,000. Finally, Man Group plc bought a new position in Cinemark during the 4th quarter worth approximately $28,040,000.

Cinemark Stock Up 2.9 %

Shares of NYSE:CNK opened at $24.42 on Friday. Cinemark has a 12 month low of $16.32 and a 12 month high of $36.28. The company’s 50-day moving average price is $29.07 and its two-hundred day moving average price is $29.68. 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 firm has a market cap of $2.99 billion, a P/E ratio of 12.03 and a beta of 2.41.

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

Cinemark Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.08 dividend. The ex-dividend date is Wednesday, March 5th. Cinemark’s dividend payout ratio (DPR) is presently 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.