Short Interest in Cinemark Holdings, Inc. (NYSE:CNK) Increases By 6.2%

Cinemark Holdings, Inc. (NYSE:CNK - Get Free Report) saw a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 29,650,000 shares, a growth of 6.2% from the March 31st total of 27,920,000 shares. Based on an average trading volume of 3,160,000 shares, the days-to-cover ratio is currently 9.4 days. Currently, 27.3% of the company's shares are sold short.

Insider Activity at Cinemark

In other news, insider Wanda Marie Gierhart sold 19,593 shares of the firm's stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total transaction of $328,182.75. Following the sale, the insider now owns 179,591 shares of the company's stock, valued at approximately $3,008,149.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cinemark

A number of institutional investors have recently made changes to their positions in the business. Hennessy Advisors Inc. acquired a new stake in Cinemark during the fourth quarter worth about $16,001,000. Norges Bank bought a new stake in Cinemark during the 4th quarter worth approximately $7,333,000. First Dallas Securities Inc. grew its position in Cinemark by 2,363.4% during the 3rd quarter. First Dallas Securities Inc. now owns 511,152 shares of the company's stock worth $9,380,000 after acquiring an additional 490,402 shares during the last quarter. Jump Financial LLC grew its position in Cinemark by 2,874.3% during the 3rd quarter. Jump Financial LLC now owns 313,642 shares of the company's stock worth $5,755,000 after acquiring an additional 303,097 shares during the last quarter. Finally, Park West Asset Management LLC grew its position in Cinemark by 34.3% during the 4th quarter. Park West Asset Management LLC now owns 1,175,000 shares of the company's stock worth $16,556,000 after acquiring an additional 300,000 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wedbush reaffirmed an "outperform" rating and set a $23.00 price target on shares of Cinemark in a research report on Thursday, April 25th. Barrington Research reissued an "outperform" rating and issued a $24.00 target price on shares of Cinemark in a report on Monday, April 22nd. Wells Fargo & Company raised Cinemark from an "underweight" rating to an "overweight" rating and boosted their target price for the company from $13.00 to $23.00 in a report on Friday, April 5th. The Goldman Sachs Group decreased their target price on Cinemark from $16.00 to $12.00 and set a "sell" rating on the stock in a research report on Thursday, January 11th. Finally, Roth Mkm boosted their target price on Cinemark from $17.00 to $19.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $20.11.

Cinemark Stock Up 0.9 %

NYSE CNK traded up $0.16 during trading on Thursday, hitting $17.59. 3,622,488 shares of the company traded hands, compared to its average volume of 3,083,939. Cinemark has a 12 month low of $13.19 and a 12 month high of $20.40. The business has a fifty day simple moving average of $17.85 and a 200 day simple moving average of $15.83. The company has a current ratio of 1.45, a quick ratio of 1.42 and a debt-to-equity ratio of 7.73. The company has a market capitalization of $2.14 billion, a P/E ratio of 14.17, a PEG ratio of 2.02 and a beta of 2.25.

Cinemark (NYSE:CNK - Get Free Report) last posted its earnings results on Friday, February 16th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.08). Cinemark had a net margin of 6.14% and a return on equity of 72.91%. The company had revenue of $638.90 million for the quarter, compared to the consensus estimate of $619.67 million. During the same quarter last year, the business earned ($0.82) earnings per share. Cinemark's quarterly revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts predict that Cinemark will post 0.85 EPS for the current 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.