Short Interest in Cinemark Holdings, Inc. (NYSE:CNK) Rises By 17.1%

Cinemark Holdings, Inc. (NYSE:CNK - Get Free Report) was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 25,160,000 shares, a growth of 17.1% from the April 30th total of 21,480,000 shares. Approximately 24.5% of the company's shares are short sold. Based on an average daily volume of 3,990,000 shares, the short-interest ratio is currently 6.3 days.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CNK shares. Barrington Research reiterated an "outperform" rating and set a $36.00 price objective on shares of Cinemark in a research note on Monday, May 5th. B. Riley assumed coverage on Cinemark in a research report on Friday, May 16th. They issued a "neutral" rating and a $35.00 price target for the company. Macquarie restated an "outperform" rating and issued a $35.00 price target on shares of Cinemark in a research report on Thursday, February 20th. JPMorgan Chase & Co. raised their price target on Cinemark from $34.00 to $35.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Finally, Wedbush restated a "neutral" rating and issued a $32.00 price target on shares of Cinemark in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $33.20.

Insider Transactions at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $33.01, for a total value of $825,250.00. Following the completion of the transaction, the insider now owns 130,612 shares of the company's stock, valued at $4,311,502.12. The trade was a 16.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Melissa Thomas sold 7,200 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $31.43, for a total value of $226,296.00. Following the completion of the transaction, the executive vice president now directly owns 210,968 shares of the company's stock, valued at approximately $6,630,724.24. This trade represents a 3.30% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Cinemark

Several large investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership boosted its position in shares of Cinemark by 100.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company's stock valued at $127,159,000 after purchasing an additional 2,054,579 shares during the period. Candlestick Capital Management LP raised its stake in shares of Cinemark by 48.1% during the 4th quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company's stock worth $152,782,000 after buying an additional 1,601,537 shares in the last quarter. Nuveen LLC purchased a new position in shares of Cinemark during the 1st quarter worth approximately $32,297,000. Simcoe Capital Management LLC purchased a new position in shares of Cinemark during the 4th quarter worth approximately $37,763,000. Finally, Wellington Management Group LLP increased its stake in Cinemark by 12.9% in the 1st quarter. Wellington Management Group LLP now owns 9,346,856 shares of the company's stock valued at $232,643,000 after purchasing an additional 1,066,225 shares in the last quarter.

Cinemark Trading Up 1.7%

NYSE CNK traded up $0.53 on Friday, reaching $32.09. 2,726,596 shares of the company were exchanged, compared to its average volume of 3,057,085. The business's fifty day moving average price is $29.86 and its 200 day moving average price is $29.56. The stock has a market capitalization of $3.69 billion, a P/E ratio of 15.81 and a beta of 1.93. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28. Cinemark has a fifty-two week low of $16.60 and a fifty-two week high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The company reported ($0.32) EPS for the quarter, meeting the consensus estimate of ($0.32). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The business had revenue of $540.70 million for the quarter, compared to analyst estimates of $604.62 million. During the same quarter in the prior year, the company posted $0.19 EPS. The company's quarterly revenue was down 6.6% on a year-over-year basis. Analysts forecast that Cinemark will post 1.93 earnings per share for the current year.

Cinemark Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.32 annualized dividend and a yield of 1.00%. Cinemark's dividend payout ratio (DPR) is 21.05%.

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.