Traders Purchase Large Volume of Cinemark Put Options (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) was the target of some unusual options trading on Tuesday. Stock traders acquired 3,425 put options on the stock. This is an increase of 82% compared to the average volume of 1,878 put options.

Institutional Investors Weigh In On Cinemark

A number of hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. increased its holdings in Cinemark by 786.0% in the second quarter. Osaic Holdings Inc. now owns 33,402 shares of the company’s stock worth $551,000 after purchasing an additional 29,632 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Cinemark by 5.6% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 35,366 shares of the company’s stock valued at $583,000 after acquiring an additional 1,884 shares in the last quarter. Coppell Advisory Solutions LLC bought a new stake in shares of Cinemark during the second quarter valued at approximately $48,000. Neo Ivy Capital Management bought a new stake in shares of Cinemark during the second quarter valued at approximately $357,000. Finally, GTS Securities LLC bought a new stake in shares of Cinemark during the second quarter valued at approximately $275,000.

Analysts Set New Price Targets

A number of brokerages have recently commented on CNK. B. Riley lifted their price target on Cinemark from $23.00 to $24.00 in a research note on Monday, August 7th. Barrington Research reissued an “outperform” rating and set a $22.00 price target (up from $20.00) on shares of Cinemark in a research note on Monday, August 7th. JPMorgan Chase & Co. lowered Cinemark from an “overweight” rating to a “neutral” rating and cut their price target for the company from $21.00 to $18.00 in a research note on Wednesday, July 19th. Morgan Stanley lifted their price target on Cinemark from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Monday, August 7th. Finally, Wedbush reissued an “outperform” rating and set a $20.00 price target on shares of Cinemark in a research note on Monday, August 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Cinemark currently has a consensus rating of “Hold” and an average target price of $18.50.

Cinemark Trading Down 0.8 %

Shares of CNK stock opened at $15.72 on Wednesday. The company has a market cap of $1.91 billion, a P/E ratio of -62.88, a PEG ratio of 1.32 and a beta of 2.27. The stock has a 50 day simple moving average of $16.52 and a two-hundred day simple moving average of $15.72. The company has a debt-to-equity ratio of 9.70, a quick ratio of 1.27 and a current ratio of 1.31. Cinemark has a fifty-two week low of $8.28 and a fifty-two week high of $18.85.

Cinemark (NYSE:CNK) last issued its earnings results on Friday, August 4th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.26. The business had revenue of $942.30 million during the quarter, compared to the consensus estimate of $870.21 million. Cinemark had a negative return on equity of 4.43% and a negative net margin of 0.28%. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 earnings per share. Research analysts forecast that Cinemark will post 1.19 earnings per share for the current year.

About Cinemark

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 24, 20223 it operated 518 theatres with 5,847 screens in the United States, and South and Central America. The company was founded in 1984 and is headquartered in Plano, Texas.