Cinemark Target of Unusually High Options Trading (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) was the recipient of some unusual options trading on Friday. Stock investors acquired 6,694 put options on the company. This represents an increase of approximately 226% compared to the average daily volume of 2,051 put options.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total transaction of $246,213.00. Following the completion of the sale, the insider now owns 147,414 shares in the company, valued at $3,980,178. This trade represents a 5.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CNK. Natixis Advisors LLC boosted its position in shares of Cinemark by 2.9% in the 3rd quarter. Natixis Advisors LLC now owns 20,638 shares of the company’s stock worth $575,000 after purchasing an additional 583 shares during the last quarter. Quest Partners LLC bought a new position in Cinemark during the third quarter worth about $115,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Cinemark by 88.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,239 shares of the company’s stock worth $1,733,000 after acquiring an additional 29,295 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Cinemark by 139.5% during the third quarter. Intech Investment Management LLC now owns 48,155 shares of the company’s stock worth $1,341,000 after acquiring an additional 28,051 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd lifted its holdings in shares of Cinemark by 137.0% in the third quarter. Dynamic Technology Lab Private Ltd now owns 120,090 shares of the company’s stock valued at $3,343,000 after purchasing an additional 69,414 shares in the last quarter.

Analysts Set New Price Targets

Several analysts have weighed in on CNK shares. Morgan Stanley cut their target price on Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Wedbush reaffirmed a “neutral” rating and set a $32.00 target price on shares of Cinemark in a research report on Tuesday, February 18th. Macquarie reaffirmed an “outperform” rating and set a $35.00 target price on shares of Cinemark in a research report on Thursday, February 20th. Benchmark dropped their price target on Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Finally, Barrington Research reissued an “outperform” rating and set a $40.00 price target on shares of Cinemark in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.70.

Cinemark Stock Performance

NYSE:CNK traded down $0.27 during mid-day trading on Friday, hitting $26.16. 1,103,914 shares of the company’s stock traded hands, compared to its average volume of 3,504,081. The firm has a 50 day moving average of $27.98 and a two-hundred day moving average of $29.50. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 12.89 and a beta of 2.41. Cinemark has a 12 month low of $16.32 and a 12 month high of $36.28. 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 (NYSE:CNK) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The company had revenue of $814.30 million during the quarter, compared to the consensus estimate of $797.18 million. During the same quarter in the prior year, the business earned ($0.15) earnings per share. The firm’s revenue for the quarter was up 27.5% on a year-over-year basis. On average, equities analysts forecast that Cinemark will post 1.93 earnings per share for the current fiscal year.

Cinemark Announces Dividend

The business also recently declared a — dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. Cinemark’s dividend payout ratio is currently 15.76%.

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.