Cinemark Sees Unusually High Options Volume (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK - Get Free Report) was the recipient of some unusual options trading on Tuesday. Stock investors bought 16,649 call options on the company. This is an increase of 597% compared to the average volume of 2,387 call options.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Cinemark from $34.00 to $35.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Wedbush restated a "neutral" rating and set a $32.00 target price on shares of Cinemark in a research report on Monday, April 28th. Macquarie restated an "outperform" rating and set a $35.00 price target on shares of Cinemark in a report on Thursday, February 20th. Barrington Research reissued an "outperform" rating and set a $36.00 target price on shares of Cinemark in a research note on Monday, May 5th. Finally, Morgan Stanley dropped their price objective on shares of Cinemark from $40.00 to $35.00 and set an "overweight" rating on the stock in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Cinemark presently has a consensus rating of "Moderate Buy" and an average target price of $33.20.

Insider Buying and Selling at Cinemark

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of the company'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 owns 210,968 shares of the company's stock, valued at $6,630,724.24. This represents a 3.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $33.01, for a total transaction of $825,250.00. Following the sale, the insider now owns 130,612 shares in the company, valued at approximately $4,311,502.12. This represents a 16.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company's stock.

Institutional Trading of Cinemark

Several institutional investors and hedge funds have recently modified their holdings of CNK. Dynamic Technology Lab Private Ltd raised its stake in Cinemark by 26.9% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 152,400 shares of the company's stock valued at $4,722,000 after purchasing an additional 32,310 shares in the last quarter. KBC Group NV lifted its holdings in shares of Cinemark by 470.1% in the 4th quarter. KBC Group NV now owns 16,920 shares of the company's stock worth $524,000 after acquiring an additional 13,952 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Cinemark by 25.0% in the 4th quarter. Franklin Resources Inc. now owns 70,964 shares of the company's stock valued at $2,198,000 after purchasing an additional 14,207 shares in the last quarter. Vanguard Group Inc. raised its position in Cinemark by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 12,505,099 shares of the company's stock worth $387,408,000 after purchasing an additional 109,179 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Cinemark by 5.2% in the fourth quarter. Principal Financial Group Inc. now owns 662,790 shares of the company's stock worth $20,533,000 after purchasing an additional 33,008 shares during the last quarter.

Cinemark Stock Performance

CNK stock traded down $0.12 during mid-day trading on Thursday, hitting $32.96. The company had a trading volume of 78,978 shares, compared to its average volume of 3,006,358. The stock's fifty day moving average price is $28.85 and its two-hundred day moving average price is $29.59. The firm has a market cap of $3.79 billion, a PE ratio of 16.15 and a beta of 1.91. Cinemark has a 12 month low of $16.32 and a 12 month high of $36.28. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.96 and a current ratio of 1.01.

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). The firm had revenue of $540.70 million during the quarter, compared to the consensus estimate of $604.62 million. Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The business's quarterly revenue was down 6.6% compared to the same quarter last year. During the same period last year, the firm earned $0.19 EPS. On average, analysts forecast that Cinemark will post 1.93 earnings per share for the current fiscal year.

Cinemark Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Thursday, May 29th. Cinemark's payout ratio is 21.05%.

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.