Stock Traders Buy Large Volume of Call Options on Cinemark (NYSE:CNK)

Cinemark Holdings Inc (NYSE:CNK) saw unusually large options trading on Tuesday. Stock traders bought 15,153 call options on the stock. This represents an increase of 453% compared to the average volume of 2,740 call options.

Insiders Place Their Bets

In other Cinemark news, EVP Melissa Thomas sold 22,082 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $24.81, for a total value of $547,854.42. Following the completion of the sale, the executive vice president directly owned 167,360 shares in the company, valued at approximately $4,152,201.60. This represents a 11.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cinemark

A number of institutional investors have recently bought and sold shares of the business. Marshall Wace LLP boosted its holdings in shares of Cinemark by 758.9% in the 2nd quarter. Marshall Wace LLP now owns 4,497,305 shares of the company’s stock valued at $135,729,000 after acquiring an additional 3,973,689 shares during the last quarter. Squarepoint Ops LLC lifted its position in Cinemark by 119.9% during the second quarter. Squarepoint Ops LLC now owns 2,180,513 shares of the company’s stock valued at $65,808,000 after purchasing an additional 1,188,709 shares during the period. Qube Research & Technologies Ltd boosted its holdings in Cinemark by 2.8% in the third quarter. Qube Research & Technologies Ltd now owns 2,069,188 shares of the company’s stock valued at $57,979,000 after purchasing an additional 56,275 shares during the last quarter. Cartenna Capital LP boosted its holdings in Cinemark by 29.4% in the third quarter. Cartenna Capital LP now owns 1,650,000 shares of the company’s stock valued at $46,233,000 after purchasing an additional 375,000 shares during the last quarter. Finally, Jain Global LLC grew its position in Cinemark by 37.4% during the 3rd quarter. Jain Global LLC now owns 1,644,623 shares of the company’s stock worth $46,082,000 after purchasing an additional 447,468 shares during the period.

Wall Street Analyst Weigh In

CNK has been the subject of several recent research reports. Benchmark reissued a “buy” rating on shares of Cinemark in a research report on Thursday, January 15th. Wall Street Zen downgraded shares of Cinemark from a “hold” rating to a “sell” rating in a report on Saturday. JPMorgan Chase & Co. lowered their price target on shares of Cinemark from $37.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, January 22nd. UBS Group raised shares of Cinemark to a “buy” rating in a research report on Tuesday, January 20th. Finally, B. Riley decreased their target price on shares of Cinemark from $35.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, January 22nd. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Cinemark presently has an average rating of “Moderate Buy” and a consensus price target of $32.83.

Cinemark Price Performance

Shares of CNK opened at $24.67 on Wednesday. The firm has a market capitalization of $2.90 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 2.44 and a beta of 1.13. The company has a debt-to-equity ratio of 5.01, a current ratio of 0.76 and a quick ratio of 0.72. Cinemark has a 1-year low of $21.60 and a 1-year high of $34.01. The company’s fifty day moving average price is $23.82 and its 200-day moving average price is $26.09.

Cinemark (NYSE:CNK) last issued its earnings results on Wednesday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). The firm had revenue of $857.50 million during the quarter, compared to analysts’ expectations of $851.47 million. Cinemark had a return on equity of 34.33% and a net margin of 4.93%.The business’s revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the business earned $1.19 EPS. On average, equities research analysts predict that Cinemark will post 1.93 EPS for the current year.

Cinemark Company Profile

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.