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

Cinemark Holdings, Inc. (NYSE:CNK) was the recipient of unusually large options trading on Friday. Stock traders purchased 6,694 put options on the stock. This represents an increase of approximately 226% compared to the typical volume of 2,051 put options.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Cinemark

A number of large investors have recently modified their holdings of the company. LPL Financial LLC raised its holdings in shares of Cinemark by 6.8% in the 4th quarter. LPL Financial LLC now owns 8,722 shares of the company’s stock worth $270,000 after purchasing an additional 556 shares during the period. QRG Capital Management Inc. raised its holdings in shares of Cinemark by 3.2% in the 4th quarter. QRG Capital Management Inc. now owns 17,730 shares of the company’s stock worth $549,000 after purchasing an additional 557 shares during the period. Natixis Advisors LLC raised its holdings 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 period. Mercer Global Advisors Inc. ADV raised its holdings in shares of Cinemark by 3.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 16,270 shares of the company’s stock valued at $504,000 after buying an additional 591 shares during the period. Finally, Summit Investment Advisors Inc. raised its holdings in shares of Cinemark by 5.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,546 shares of the company’s stock valued at $358,000 after buying an additional 618 shares during the period.

Cinemark Trading Down 1.0 %

NYSE:CNK traded down $0.27 during mid-day trading on Friday, reaching $26.16. The company’s stock had a trading volume of 1,103,914 shares, compared to its average volume of 3,504,081. The company’s fifty day simple moving average is $27.98 and its two-hundred day simple moving average is $29.50. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. Cinemark has a twelve month low of $16.32 and a twelve month high of $36.28. The stock has a market cap of $3.20 billion, a P/E ratio of 12.89 and a beta of 2.41.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The business had revenue of $814.30 million during the quarter, compared to analyst estimates of $797.18 million. During the same period in the previous year, the business posted ($0.15) earnings per share. The firm’s quarterly revenue was up 27.5% on a year-over-year basis. On average, equities analysts predict that Cinemark will post 1.93 EPS for the current year.

Cinemark Announces Dividend

The company also recently disclosed a — dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. Cinemark’s dividend payout ratio (DPR) is 15.76%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Morgan Stanley lowered their target price on Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Macquarie reissued an “outperform” rating and issued a $35.00 target price on shares of Cinemark in a report on Thursday, February 20th. Benchmark lowered their target price on Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Wells Fargo & Company lowered their target price on Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. decreased their price objective on Cinemark from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.70.

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.