Cinemark Sees Unusually High Options Volume (NYSE:CNK)

Key Points

• Cinemark Holdings Inc experienced a significant surge in put options trading, with over 40,060 put options purchased, representing a 1,789% increase compared to average volumes.
• The company's stock price increased slightly by $0.12 to $25.85, with a current market cap of $2.97 billion.
• Cinemark recently announced a $0.08 quarterly dividend, resulting in an annualized yield of 1.2% and a payout ratio of 17.49%.

Cinemark Holdings Inc (NYSE:CNK - Get Free Report) was the recipient of some unusual options trading on Thursday. Stock traders purchased 40,060 put options on the company. This represents an increase of approximately 1,789% compared to the average volume of 2,121 put options.

Cinemark Stock Performance

Shares of CNK stock traded up $0.12 during trading on Thursday, hitting $25.85. The company's stock had a trading volume of 806,619 shares, compared to its average volume of 3,871,722. The company has a market cap of $2.97 billion, a PE ratio of 14.13, a P/E/G ratio of 1.88 and a beta of 1.75. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 4.32. The business has a fifty day moving average of $26.72 and a 200-day moving average of $28.69. Cinemark has a 52 week low of $23.12 and a 52 week high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings data 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). Cinemark had a net margin of 9.13% and a return on equity of 59.16%. The firm had revenue of $940.50 million for the quarter, compared to the consensus estimate of $942.14 million. During the same period last year, the company posted $0.32 earnings per share. Cinemark's revenue for the quarter was up 28.1% on a year-over-year basis. As a group, research analysts anticipate that Cinemark will post 1.93 earnings per share for the current year.

Cinemark Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 27th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, August 27th. Cinemark's dividend payout ratio (DPR) is presently 17.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CNK shares. Barrington Research restated an "outperform" rating and set a $36.00 price objective on shares of Cinemark in a research report on Tuesday, September 23rd. JPMorgan Chase & Co. upped their price target on Cinemark from $37.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday. Weiss Ratings reiterated a "hold (c+)" rating on shares of Cinemark in a research report on Wednesday. Benchmark reissued a "buy" rating and issued a $35.00 price objective on shares of Cinemark in a research note on Wednesday, July 2nd. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $33.00 price objective (down from $36.00) on shares of Cinemark in a research note on Monday, August 4th. Ten equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $35.18.

Insiders Place Their Bets

In related news, EVP Melissa Thomas sold 7,200 shares of the business's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $25.17, for a total transaction of $181,224.00. Following the sale, the executive vice president owned 203,768 shares in the company, valued at $5,128,840.56. The trade was a 3.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cinemark

A number of large investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its holdings in shares of Cinemark by 12.9% in the first quarter. Wellington Management Group LLP now owns 9,346,856 shares of the company's stock worth $232,643,000 after acquiring an additional 1,066,225 shares during the period. Marshall Wace LLP raised its position in shares of 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 in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Cinemark by 106.9% in the second quarter. Assenagon Asset Management S.A. now owns 2,589,372 shares of the company's stock worth $78,147,000 after buying an additional 1,338,153 shares in the last quarter. Squarepoint Ops LLC raised its position in shares of Cinemark by 119.9% in the second quarter. Squarepoint Ops LLC now owns 2,180,513 shares of the company's stock worth $65,808,000 after buying an additional 1,188,709 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its position in shares of Cinemark by 18.7% in the second quarter. Qube Research & Technologies Ltd now owns 2,012,913 shares of the company's stock worth $60,750,000 after buying an additional 316,476 shares in the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.