Investors Buy Large Volume of Cinemark Put Options (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNKGet Rating) was the recipient of unusually large options trading on Monday. Traders acquired 24,191 put options on the stock. This is an increase of approximately 563% compared to the average volume of 3,650 put options.

Institutional Trading of Cinemark

Institutional investors have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC boosted its stake in Cinemark by 6.7% in the 2nd quarter. Wolverine Asset Management LLC now owns 78,407 shares of the company’s stock valued at $1,177,000 after purchasing an additional 4,900 shares during the period. Comerica Bank boosted its stake in Cinemark by 1.1% in the 1st quarter. Comerica Bank now owns 92,602 shares of the company’s stock valued at $1,572,000 after purchasing an additional 1,043 shares during the period. State of Alaska Department of Revenue boosted its stake in Cinemark by 9.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 81,094 shares of the company’s stock valued at $1,218,000 after purchasing an additional 6,990 shares during the period. Mutual of America Capital Management LLC boosted its stake in Cinemark by 5.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 15,341 shares of the company’s stock valued at $265,000 after purchasing an additional 795 shares during the period. Finally, Seaview Investment Managers LLC boosted its stake in Cinemark by 3.8% in the 2nd quarter. Seaview Investment Managers LLC now owns 903,600 shares of the company’s stock valued at $13,572,000 after purchasing an additional 33,279 shares during the period. 96.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CNK has been the topic of several recent analyst reports. Wells Fargo & Company lowered their price target on Cinemark from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Monday, November 7th. B. Riley lowered their price target on Cinemark from $17.00 to $16.00 in a research report on Monday, November 7th. Credit Suisse Group lowered Cinemark from an “outperform” rating to an “underperform” rating and lowered their price target for the stock from $25.00 to $9.00 in a research report on Wednesday, October 12th. JPMorgan Chase & Co. lowered their price target on Cinemark from $19.00 to $15.00 and set a “neutral” rating on the stock in a research report on Monday, October 10th. Finally, StockNews.com started coverage on Cinemark in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $16.44.

Cinemark Stock Down 5.1 %

CNK stock opened at $11.99 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 1.24 and a debt-to-equity ratio of 12.49. The firm has a market capitalization of $1.44 billion, a PE ratio of -8.69 and a beta of 2.01. Cinemark has a 1-year low of $9.07 and a 1-year high of $19.76. The business’s 50 day simple moving average is $11.60 and its 200 day simple moving average is $14.44.

About Cinemark

(Get Rating)

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of June 30, 2022, it operated 522 theatres with 5,868 screens in the United States, and South and Central America. The company was founded in 1984 and is headquartered in Plano, Texas.

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