Short Interest in Cinemark Holdings Inc (NYSE:CNK) Drops By 21.3%

Cinemark Holdings Inc (NYSE:CNK) was the recipient of a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 11,266,695 shares, a drop of 21.3% from the January 15th total of 14,320,761 shares. Approximately 9.8% of the company’s shares are sold short. Based on an average trading volume of 2,211,727 shares, the days-to-cover ratio is currently 5.1 days. Based on an average trading volume of 2,211,727 shares, the days-to-cover ratio is currently 5.1 days. Approximately 9.8% of the company’s shares are sold short.

Insiders Place Their Bets

In related news, EVP Melissa Thomas sold 7,944 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $26.05, for a total value of $206,941.20. Following the transaction, the executive vice president owned 159,416 shares of the company’s stock, valued at $4,152,786.80. This represents a 4.75% decrease in their ownership of the stock. 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 currently owned by insiders.

Institutional Trading of Cinemark

Hedge funds have recently modified their holdings of the business. Lavaca Capital LLC acquired a new position in Cinemark in the fourth quarter valued at approximately $133,045,000. Marshall Wace LLP boosted its position in Cinemark by 758.9% during the second quarter. Marshall Wace LLP now owns 4,497,305 shares of the company’s stock valued at $135,729,000 after purchasing an additional 3,973,689 shares during the last quarter. State Street Corp grew its position in shares of Cinemark by 1.5% in the 4th quarter. State Street Corp now owns 3,950,606 shares of the company’s stock valued at $91,812,000 after acquiring an additional 60,176 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of Cinemark during the 4th quarter worth approximately $55,296,000. Finally, Squarepoint Ops LLC raised its holdings in Cinemark by 119.9% in the 2nd quarter. Squarepoint Ops LLC now owns 2,180,513 shares of the company’s stock valued at $65,808,000 after acquiring an additional 1,188,709 shares during the period.

Cinemark Stock Up 0.2%

NYSE CNK traded up $0.06 on Monday, reaching $24.92. The company had a trading volume of 2,788,913 shares, compared to its average volume of 2,240,287. The firm has a 50-day moving average of $23.86 and a 200-day moving average of $25.88. The company has a debt-to-equity ratio of 5.01, a current ratio of 0.76 and a quick ratio of 0.72. The firm has a market capitalization of $2.93 billion, a PE ratio of 23.96, a P/E/G ratio of 2.46 and a beta of 1.13. Cinemark has a 1 year low of $21.60 and a 1 year high of $34.01.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CNK shares. Macquarie Infrastructure reduced their price target on Cinemark from $36.00 to $34.00 and set an “outperform” rating for the company in a report on Thursday, January 15th. Barrington Research reduced their price target on shares of Cinemark from $36.00 to $32.00 and set an “outperform” rating on the stock in a research note on Monday, January 26th. Morgan Stanley reiterated an “equal weight” rating and set a $28.00 target price (down from $35.00) on shares of Cinemark in a report on Thursday, December 18th. Moffett Nathanson raised shares of Cinemark from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Tuesday, January 20th. Finally, UBS Group raised Cinemark to a “buy” rating in a report on Tuesday, January 20th. Ten research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Cinemark has a consensus rating of “Moderate Buy” and an average price target of $32.83.

About Cinemark

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.