Cinemark Holdings Inc (NYSE:CNK) Sees Large Decline in Short Interest

Cinemark Holdings Inc (NYSE:CNK) was the target of a large decline in short interest during the month of January. As of January 30th, there was short interest totaling 11,266,695 shares, a decline of 21.3% from the January 15th total of 14,320,761 shares. Based on an average daily volume of 2,211,727 shares, the short-interest ratio is presently 5.1 days. Approximately 9.8% of the company’s stock are short sold. Approximately 9.8% of the company’s stock are short sold. Based on an average daily volume of 2,211,727 shares, the short-interest ratio is presently 5.1 days.

Insider Activity

In other Cinemark news, EVP Melissa Thomas sold 7,944 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $26.05, for a total transaction of $206,941.20. Following the transaction, the executive vice president directly owned 159,416 shares in the company, valued at $4,152,786.80. This trade represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Cinemark

A number of institutional investors have recently bought and sold shares of the business. Lavaca Capital LLC bought a new stake in Cinemark in the 4th quarter valued at $133,045,000. Marshall Wace LLP lifted its holdings in shares of Cinemark by 758.9% during the 2nd quarter. Marshall Wace LLP now owns 4,497,305 shares of the company’s stock worth $135,729,000 after acquiring an additional 3,973,689 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of Cinemark during the 4th quarter valued at about $55,296,000. Victory Capital Management Inc. increased its stake in Cinemark by 12,759.3% in the fourth quarter. Victory Capital Management Inc. now owns 2,026,245 shares of the company’s stock valued at $47,090,000 after acquiring an additional 2,010,488 shares during the period. Finally, Woodline Partners LP acquired a new position in Cinemark in the third quarter worth about $33,390,000.

Cinemark Stock Performance

Cinemark stock traded up $0.06 during trading hours on Friday, hitting $24.92. The stock had a trading volume of 2,788,913 shares, compared to its average volume of 2,277,711. The company has a 50-day moving average of $23.83 and a two-hundred day moving average of $25.90. The company has a quick ratio of 0.72, a current ratio of 0.76 and a debt-to-equity ratio of 5.01. Cinemark has a fifty-two week low of $21.60 and a fifty-two week high of $34.01. The company has a market cap of $2.93 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 2.46 and a beta of 1.13.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Moffett Nathanson raised Cinemark from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Tuesday, January 20th. B. Riley Financial cut their target price on shares of Cinemark from $35.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, January 22nd. Benchmark reaffirmed a “buy” rating on shares of Cinemark in a research report on Thursday, January 15th. UBS Group raised Cinemark to a “buy” rating in a research report on Tuesday, January 20th. Finally, JPMorgan Chase & Co. lowered their target price on Cinemark from $37.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, January 22nd. Ten investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Cinemark currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.83.

Cinemark Company Profile

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.