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

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

Cinemark Trading Up 0.2%

CNK traded up $0.06 during trading on Friday, reaching $24.92. The company had a trading volume of 2,788,913 shares, compared to its average volume of 2,277,711. The firm’s 50-day simple moving average is $23.83 and its 200 day simple moving average is $25.90. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 2.46 and a beta of 1.13. Cinemark has a 12-month low of $21.60 and a 12-month high of $34.01. The company has a debt-to-equity ratio of 5.01, a quick ratio of 0.72 and a current ratio of 0.76.

Insider Transactions at Cinemark

In other Cinemark news, EVP Melissa Thomas sold 22,082 shares of Cinemark stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $24.81, for a total transaction of $547,854.42. Following the completion of the sale, the executive vice president directly owned 167,360 shares of the company’s stock, valued at $4,152,201.60. The trade was a 11.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Cinemark

Institutional investors have recently bought and sold shares of the company. Lavaca Capital LLC purchased a new stake in shares of Cinemark during the 4th quarter worth about $133,045,000. Marshall Wace LLP increased its holdings in Cinemark by 758.9% in the second quarter. Marshall Wace LLP now owns 4,497,305 shares of the company’s stock worth $135,729,000 after buying an additional 3,973,689 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in Cinemark during the fourth quarter valued at approximately $55,296,000. Victory Capital Management Inc. lifted 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 last quarter. Finally, Woodline Partners LP acquired a new stake in Cinemark in the third quarter valued at approximately $33,390,000.

Wall Street Analyst Weigh In

A number of analysts recently commented on CNK shares. Roth Mkm reissued a “buy” rating and set a $35.00 price objective on shares of Cinemark in a report on Wednesday, November 5th. B. Riley Financial 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. Weiss Ratings reissued a “hold (c)” rating on shares of Cinemark in a research note on Monday, December 29th. Wells Fargo & Company decreased their target price on Cinemark from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. reduced their target price on Cinemark from $37.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, January 22nd. Ten research 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’s stock. According to data from MarketBeat.com, the stock has an average 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.