Cinemark Holdings Inc (NYSE:CNK) Short Interest Update

Key Points

• Cinemark Holdings Inc experienced a significant decrease in short interest, dropping 44.6% to approximately 12.97 million shares as of August 31, representing about 12.6% of total shares outstanding.
• The company's latest quarterly earnings revealed an EPS of $0.63, which fell short of the anticipated $0.78, although revenue increased by 28.1% compared to the previous year, totaling $940.5 million.
• Cinemark declared a quarterly dividend of $0.08, yielding 1.1%, with a dividend payout ratio currently set at 17.49%.

Cinemark Holdings Inc (NYSE:CNK - Get Free Report) saw a significant drop in short interest in August. As of August 31st, there was short interest totaling 12,970,000 shares, a drop of 44.6% from the August 15th total of 23,420,000 shares. Based on an average daily trading volume, of 4,440,000 shares, the days-to-cover ratio is currently 2.9 days. Approximately 12.6% of the shares of the company are sold short. Approximately 12.6% of the shares of the company are sold short. Based on an average daily trading volume, of 4,440,000 shares, the days-to-cover ratio is currently 2.9 days.

Cinemark Stock Up 0.3%

Shares of NYSE:CNK opened at $28.26 on Friday. The company has a market capitalization of $3.25 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 2.01 and a beta of 1.85. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.91 and a quick ratio of 0.88. The business has a fifty day moving average price of $27.27 and a two-hundred day moving average price of $28.33. Cinemark has a 1 year low of $23.12 and a 1 year high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.15). The firm had revenue of $940.50 million for the quarter, compared to the consensus estimate of $942.14 million. Cinemark had a return on equity of 59.16% and a net margin of 9.13%.The firm's revenue was up 28.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS. Analysts forecast that Cinemark will post 1.93 earnings per share for the current year.

Cinemark Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 27th were issued a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, August 27th. This represents a $0.32 annualized dividend and a dividend yield of 1.1%. Cinemark's dividend payout ratio (DPR) is presently 17.49%.

Insider Buying and Selling

In related news, EVP Melissa Thomas sold 7,200 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $25.17, for a total value of $181,224.00. Following the completion of the transaction, the executive vice president owned 203,768 shares of the company's stock, valued at $5,128,840.56. The trade was a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Cinemark

Several institutional investors and hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its holdings in shares of Cinemark by 118.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company's stock valued at $28,000 after buying an additional 507 shares in the last quarter. Elequin Capital LP raised its stake in shares of Cinemark by 211.6% in the fourth quarter. Elequin Capital LP now owns 997 shares of the company's stock worth $31,000 after purchasing an additional 677 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new position in shares of Cinemark in the second quarter worth $47,000. Russell Investments Group Ltd. increased its position in Cinemark by 242.9% during the first quarter. Russell Investments Group Ltd. now owns 3,532 shares of the company's stock valued at $88,000 after acquiring an additional 2,502 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Cinemark by 66.2% during the second quarter. GAMMA Investing LLC now owns 3,474 shares of the company's stock valued at $105,000 after acquiring an additional 1,384 shares during the last quarter.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft began coverage on Cinemark in a report on Thursday, July 10th. They set a "buy" rating and a $36.00 price target on the stock. Wells Fargo & Company reaffirmed an "overweight" rating and set a $33.00 target price (down from $36.00) on shares of Cinemark in a research report on Monday, August 4th. Benchmark reaffirmed a "buy" rating and set a $35.00 target price on shares of Cinemark in a research report on Wednesday, July 2nd. Wall Street Zen raised Cinemark from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Finally, Roth Capital lowered their price target on Cinemark from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Monday, August 4th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $33.67.

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.

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