Stock Traders Buy High Volume of Put Options on Cinemark (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNKGet Rating) was the target of some unusual options trading on Monday. Stock investors acquired 24,191 put options on the company. This represents an increase of approximately 563% compared to the average volume of 3,650 put options.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Credit Suisse Group downgraded Cinemark from an “outperform” rating to an “underperform” rating and lowered their price target for the company from $25.00 to $9.00 in a report on Wednesday, October 12th. Wells Fargo & Company lowered their target price on Cinemark from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Monday, November 7th. StockNews.com began coverage on Cinemark in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. B. Riley lowered their target price on Cinemark from $17.00 to $16.00 in a research note on Monday, November 7th. Finally, Benchmark lowered their target price on Cinemark from $27.00 to $22.00 in a research note on Wednesday, October 5th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $16.44.

Cinemark Price Performance

Shares of NYSE:CNK opened at $12.27 on Wednesday. Cinemark has a fifty-two week low of $9.07 and a fifty-two week high of $19.76. The business has a 50-day moving average of $11.58 and a two-hundred day moving average of $14.42. The stock has a market capitalization of $1.48 billion, a P/E ratio of -8.89 and a beta of 2.01. The company has a debt-to-equity ratio of 12.49, a current ratio of 1.27 and a quick ratio of 1.24.

Institutional Trading of Cinemark

Institutional investors and hedge funds have recently made changes to their positions in the stock. Elequin Capital LP acquired a new stake in shares of Cinemark in the first quarter worth about $25,000. Herold Advisors Inc. acquired a new stake in shares of Cinemark in the first quarter worth about $35,000. Captrust Financial Advisors lifted its position in shares of Cinemark by 107.2% during the 2nd quarter. Captrust Financial Advisors now owns 4,783 shares of the company’s stock worth $72,000 after purchasing an additional 2,475 shares during the last quarter. KBC Group NV acquired a new position in shares of Cinemark during the 2nd quarter worth about $137,000. Finally, Duality Advisers LP acquired a new position in shares of Cinemark during the 3rd quarter worth about $143,000. Institutional investors and hedge funds own 96.54% of the company’s stock.

Cinemark Company Profile

(Get Rating)

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of June 30, 2022, it operated 522 theatres with 5,868 screens in the United States, and South and Central America. The company was founded in 1984 and is headquartered in Plano, Texas.

Further Reading

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