Cinemark Sees Unusually Large Options Volume (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) was the target of unusually large options trading on Monday. Stock traders purchased 5,122 put options on the company. This is an increase of approximately 91% compared to the typical daily volume of 2,687 put options.

Cinemark Price Performance

CNK stock traded up $0.73 during mid-day trading on Monday, reaching $29.42. 1,014,408 shares of the company’s stock were exchanged, compared to its average volume of 2,840,833. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 1.94 and a beta of 2.36. The stock’s 50 day moving average is $28.00 and its 200 day moving average is $22.81. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26. Cinemark has a 12-month low of $13.19 and a 12-month high of $29.87.

Cinemark (NYSE:CNK) last announced its earnings results on Friday, August 2nd. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.25. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The business had revenue of $734.20 million during the quarter, compared to analysts’ expectations of $691.74 million. During the same quarter in the prior year, the firm earned $0.80 earnings per share. The business’s revenue was down 22.1% compared to the same quarter last year. On average, research analysts expect that Cinemark will post 1.41 EPS for the current year.

Insiders Place Their Bets

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.19, for a total value of $679,750.00. Following the sale, the insider now owns 204,729 shares of the company’s stock, valued at $5,566,581.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Cinemark

A number of hedge funds have recently made changes to their positions in CNK. GAMMA Investing LLC increased its holdings in shares of Cinemark by 106.1% in the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock valued at $56,000 after purchasing an additional 1,040 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of Cinemark in the third quarter valued at approximately $77,000. CWM LLC increased its holdings in shares of Cinemark by 134.4% in the third quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after purchasing an additional 1,716 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in Cinemark by 38.7% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after acquiring an additional 877 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in Cinemark during the second quarter worth $79,000.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CNK. JPMorgan Chase & Co. boosted their price objective on Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Roth Mkm boosted their price objective on Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Macquarie boosted their price objective on Cinemark from $21.00 to $24.00 and gave the company an “outperform” rating in a report on Tuesday, July 9th. Morgan Stanley boosted their price objective on Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Wells Fargo & Company boosted their price objective on Cinemark from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cinemark has a consensus rating of “Moderate Buy” and an average target price of $28.10.

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.