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

Cinemark Holdings, Inc. (NYSE:CNK) was the target of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 28,060,000 shares, an increase of 7.6% from the May 31st total of 26,090,000 shares. Currently, 25.7% of the company’s shares are short sold. Based on an average daily trading volume, of 2,920,000 shares, the days-to-cover ratio is currently 9.6 days.

Cinemark Stock Down 0.6 %

NYSE:CNK traded down $0.14 during trading hours on Tuesday, reaching $21.44. 2,074,989 shares of the company traded hands, compared to its average volume of 3,031,141. The company has a current ratio of 1.48, a quick ratio of 1.45 and a debt-to-equity ratio of 7.42. The business’s 50-day moving average price is $18.21 and its two-hundred day moving average price is $16.83. Cinemark has a 1 year low of $13.19 and a 1 year high of $21.87. The stock has a market capitalization of $2.62 billion, a P/E ratio of 14.78, a P/E/G ratio of 2.02 and a beta of 2.36.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.40. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The firm had revenue of $579.00 million during the quarter, compared to analyst estimates of $561.91 million. During the same quarter in the previous year, the firm earned ($0.03) EPS. Cinemark’s quarterly revenue was down 5.2% compared to the same quarter last year. Analysts predict that Cinemark will post 1.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Roth Mkm raised shares of Cinemark from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $19.00 to $26.00 in a research report on Monday, June 24th. JPMorgan Chase & Co. boosted their price target on shares of Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Benchmark restated a “buy” rating and issued a $23.00 price objective on shares of Cinemark in a report on Monday. Roth Capital upgraded Cinemark from a “hold” rating to a “strong-buy” rating in a report on Monday, June 24th. Finally, Barrington Research restated an “outperform” rating and issued a $24.00 target price on shares of Cinemark in a research note on Monday, June 17th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.33.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. NBC Securities Inc. raised its position in Cinemark by 17.2% in the 4th quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock worth $67,000 after buying an additional 700 shares during the last quarter. Virtu Financial LLC bought a new stake in Cinemark in the 4th quarter worth approximately $192,000. Mackenzie Financial Corp purchased a new stake in Cinemark during the 4th quarter valued at $210,000. Watershed Asset Management L.L.C. lifted its holdings in shares of Cinemark by 6.2% during the 4th quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock valued at $221,000 after buying an additional 915 shares during the period. Finally, Algert Global LLC purchased a new position in shares of Cinemark in the 3rd quarter worth $222,000.

Cinemark Company Profile

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.