Cinemark Sees Unusually High Options Volume (NYSE:CNK)

Cinemark Holdings Inc (NYSE:CNK) was the target of unusually large options trading activity on Thursday. Stock investors bought 15,000 call options on the company. This represents an increase of 447% compared to the average daily volume of 2,744 call options.

Analyst Ratings Changes

CNK has been the subject of several recent analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and issued a $28.00 target price (down from $35.00) on shares of Cinemark in a research note on Thursday, December 18th. Wall Street Zen raised Cinemark from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. UBS Group upgraded Cinemark to a “buy” rating in a report on Tuesday, January 20th. Barrington Research reaffirmed an “outperform” rating and issued a $32.00 price objective on shares of Cinemark in a research report on Thursday, February 19th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cinemark in a research note on Monday, December 29th. Ten research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $32.08.

Cinemark Stock Performance

NYSE:CNK opened at $28.07 on Friday. The company has a market cap of $3.24 billion, a P/E ratio of 32.26 and a beta of 1.08. The firm’s 50 day moving average is $25.89 and its two-hundred day moving average is $26.11. Cinemark has a fifty-two week low of $21.60 and a fifty-two week high of $34.01. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 4.74.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Wednesday, February 18th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The firm had revenue of $776.30 million for the quarter, compared to analyst estimates of $778.41 million. Cinemark had a return on equity of 34.11% and a net margin of 4.44%.The company’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 earnings per share. Analysts expect that Cinemark will post 1.93 EPS for the current year.

Cinemark Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Stockholders of record on Tuesday, March 3rd were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Tuesday, March 3rd. Cinemark’s dividend payout ratio (DPR) is 41.38%.

Insider Buying and Selling at Cinemark

In other news, EVP Melissa Thomas sold 7,944 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $26.05, for a total value of $206,941.20. Following the completion of the transaction, the executive vice president owned 159,416 shares of the company’s stock, valued at $4,152,786.80. The trade was a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Cinemark

A number of institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in Cinemark by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after buying an additional 507 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in Cinemark during the second quarter worth approximately $47,000. Financial Consulate Inc. purchased a new stake in Cinemark during the third quarter worth approximately $50,000. Meeder Asset Management Inc. acquired a new stake in shares of Cinemark in the third quarter worth $63,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Cinemark by 20.1% in the third quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock worth $83,000 after acquiring an additional 506 shares in the last quarter.

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.