Cinemark Holdings, Inc. (NYSE:CNK) Short Interest Update

Cinemark Holdings, Inc. (NYSE:CNK) was the target of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 24,060,000 shares, a decrease of 6.2% from the January 15th total of 25,650,000 shares. Approximately 22.0% of the shares of the company are sold short. Based on an average trading volume of 2,340,000 shares, the days-to-cover ratio is presently 10.3 days.

Analysts Set New Price Targets

CNK has been the topic of several research reports. Benchmark reissued a “buy” rating and set a $40.00 price objective on shares of Cinemark in a research report on Friday, January 10th. StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th. JPMorgan Chase & Co. upped their price objective on Cinemark from $29.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Macquarie lifted their target price on Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Barrington Research restated an “outperform” rating and set a $40.00 price target on shares of Cinemark in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Cinemark has a consensus rating of “Moderate Buy” and a consensus price target of $33.20.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Elequin Capital LP lifted its position in shares of Cinemark by 211.6% during the 4th quarter. Elequin Capital LP now owns 997 shares of the company’s stock valued at $31,000 after acquiring an additional 677 shares during the period. Russell Investments Group Ltd. raised its holdings in Cinemark by 402.4% during the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company’s stock worth $32,000 after purchasing an additional 825 shares during the last quarter. Quarry LP raised its holdings in Cinemark by 714.8% during the third quarter. Quarry LP now owns 1,491 shares of the company’s stock worth $42,000 after purchasing an additional 1,308 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its position in Cinemark by 380.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company’s stock worth $59,000 after purchasing an additional 1,501 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in Cinemark in the fourth quarter valued at $63,000.

Cinemark Trading Down 13.7 %

Shares of CNK stock opened at $28.53 on Thursday. The business’s fifty day moving average price is $30.44 and its 200 day moving average price is $29.76. The firm has a market capitalization of $3.49 billion, a PE ratio of 18.41 and a beta of 2.38. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96. Cinemark has a 1-year low of $15.74 and a 1-year high of $36.28.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The company had revenue of $814.30 million for the quarter, compared to analyst estimates of $797.18 million. During the same period last year, the company earned ($0.15) earnings per share. The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Cinemark will post 2.08 EPS for the current fiscal year.

About Cinemark

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.