Cinemark Holdings, Inc. (NYSE:CNK) Sees Significant Increase in Short Interest

Cinemark Holdings, Inc. (NYSE:CNKGet Rating) saw a significant growth in short interest in the month of December. As of December 30th, there was short interest totalling 24,720,000 shares, a growth of 6.0% from the December 15th total of 23,310,000 shares. Approximately 22.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,600,000 shares, the short-interest ratio is currently 6.9 days.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wells Fargo & Company reduced their price target on Cinemark from $18.00 to $15.00 and set an “equal weight” rating on the stock in a report on Monday, November 7th. The Goldman Sachs Group lowered their price objective on Cinemark from $12.50 to $11.00 and set a “sell” rating on the stock in a research report on Tuesday, October 11th. B. Riley lowered their price target on Cinemark from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, January 3rd. Morgan Stanley restated an “overweight” rating and issued a $16.00 price objective on shares of Cinemark in a research note on Tuesday, January 17th. Finally, Credit Suisse Group lowered Cinemark from an “outperform” rating to an “underperform” rating and cut their price target for the stock from $25.00 to $9.00 in a research note on Wednesday, October 12th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $15.56.

Cinemark Trading Up 3.9 %

Shares of Cinemark stock opened at $11.63 on Wednesday. The firm has a 50-day simple moving average of $11.03 and a two-hundred day simple moving average of $12.96. The company has a market cap of $1.40 billion, a P/E ratio of -8.43, a price-to-earnings-growth ratio of 2.40 and a beta of 2.16. Cinemark has a fifty-two week low of $8.28 and a fifty-two week high of $19.76. The company has a debt-to-equity ratio of 12.49, a quick ratio of 1.24 and a current ratio of 1.27.

Cinemark (NYSE:CNKGet Rating) last released its earnings results on Friday, November 4th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.01. Cinemark had a negative net margin of 6.59% and a negative return on equity of 27.93%. The business had revenue of $650.40 million during the quarter, compared to analysts’ expectations of $616.20 million. As a group, equities analysts predict that Cinemark will post -1.6 earnings per share for the current fiscal year.

Insider Activity at Cinemark

In other Cinemark news, Director Enrique Senior sold 35,054 shares of Cinemark stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $12.47, for a total transaction of $437,123.38. Following the completion of the sale, the director now owns 46,609 shares of the company’s stock, valued at $581,214.23. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 10.00% of the stock is owned by corporate insiders.

Institutional Trading of Cinemark

Large investors have recently bought and sold shares of the business. Captrust Financial Advisors grew its stake in shares of Cinemark by 107.2% in the 2nd quarter. Captrust Financial Advisors now owns 4,783 shares of the company’s stock valued at $72,000 after buying an additional 2,475 shares during the period. Wedge Capital Management L L P NC grew its stake in shares of Cinemark by 14.3% in the 4th quarter. Wedge Capital Management L L P NC now owns 13,984 shares of the company’s stock valued at $121,000 after buying an additional 1,752 shares during the period. KBC Group NV purchased a new stake in shares of Cinemark in the 2nd quarter valued at approximately $137,000. Duality Advisers LP purchased a new stake in shares of Cinemark in the 3rd quarter valued at approximately $143,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Cinemark by 17.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,860 shares of the company’s stock valued at $148,000 after buying an additional 1,500 shares during the period. Hedge funds and other institutional investors own 98.99% of the company’s stock.

About Cinemark

(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.

See Also

Receive News & Ratings for Cinemark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cinemark and related companies with MarketBeat.com's FREE daily email newsletter.