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

Cinemark Holdings Inc (NYSE:CNK) saw some unusual options trading on Tuesday. Stock investors purchased 15,153 call options on the stock. This is an increase of approximately 453% compared to the typical daily volume of 2,740 call options.

Cinemark Stock Performance

Shares of NYSE:CNK opened at $25.15 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.72 and a debt-to-equity ratio of 5.01. Cinemark has a 12 month low of $21.60 and a 12 month high of $34.01. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 2.44 and a beta of 1.13. The firm’s 50-day moving average is $23.77 and its 200 day moving average is $26.08.

Cinemark (NYSE:CNK) last announced its earnings results on Wednesday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.04). The business had revenue of $857.50 million for the quarter, compared to analysts’ expectations of $851.47 million. Cinemark had a net margin of 4.93% and a return on equity of 34.33%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.19 EPS. Research analysts predict that Cinemark will post 1.93 EPS for the current year.

Insider Buying and Selling

In other Cinemark news, EVP Melissa Thomas sold 22,082 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $24.81, for a total value of $547,854.42. Following the completion of the transaction, the executive vice president directly owned 167,360 shares in the company, valued at $4,152,201.60. This represents a 11.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Cinemark

Several institutional investors and hedge funds have recently made changes to their positions in CNK. EverSource Wealth Advisors LLC grew its holdings in shares of Cinemark by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $28,000 after purchasing an additional 507 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in Cinemark in the 2nd quarter worth about $47,000. Financial Consulate Inc. purchased a new position in shares of Cinemark during the third quarter worth approximately $50,000. Meeder Asset Management Inc. purchased a new position in shares of Cinemark during the third quarter worth approximately $63,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of Cinemark by 20.1% during the third quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock valued at $83,000 after acquiring an additional 506 shares in the last quarter.

Analyst Ratings Changes

Several analysts have commented on the stock. B. Riley decreased their price target on shares of Cinemark from $35.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, January 22nd. Moffett Nathanson raised shares of Cinemark from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Tuesday, January 20th. Macquarie dropped their price objective on shares of Cinemark from $36.00 to $34.00 and set an “outperform” rating for the company in a research note on Thursday, January 15th. Weiss Ratings restated a “hold (c)” rating on shares of Cinemark in a research report on Monday, December 29th. Finally, Benchmark reaffirmed a “buy” rating on shares of Cinemark in a report on Thursday, January 15th. Ten investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.83.

About Cinemark

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.