Short Interest in Cinemark Holdings, Inc. (NYSE:CNK) Rises By 14.3%
Cinemark Holdings, Inc. (NYSE:CNK) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 22,670,000 shares, a growth of 14.3% from the December 15th total of 19,840,000 shares. Currently, 21.4% of the shares of the company are short sold. Based on an average daily trading volume, of 1,330,000 shares, the days-to-cover ratio is presently 17.0 days.
Shares of NYSE:CNK traded up $0.22 during trading on Tuesday, hitting $31.63. 2,015,039 shares of the company’s stock were exchanged, compared to its average volume of 1,669,851. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.93 and a quick ratio of 0.90. Cinemark has a 52-week low of $30.59 and a 52-week high of $43.51. The business’s 50-day simple moving average is $33.81 and its 200 day simple moving average is $36.48. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 0.96 and a beta of 0.63.
Cinemark (NYSE:CNK) last released its earnings results on Tuesday, November 5th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.23). Cinemark had a return on equity of 14.25% and a net margin of 5.60%. The business had revenue of $821.82 million for the quarter, compared to analysts’ expectations of $807.69 million. During the same quarter in the prior year, the business posted $0.43 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Cinemark will post 2 EPS for the current fiscal year.
CNK has been the topic of several recent research reports. B. Riley downgraded Cinemark from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $46.50 to $37.00 in a research note on Friday, November 22nd. Imperial Capital decreased their price objective on Cinemark from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday. Loop Capital decreased their price objective on Cinemark to $42.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Barrington Research reaffirmed a “buy” rating and issued a $49.00 price objective on shares of Cinemark in a research note on Tuesday, November 5th. Finally, Wedbush reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Cinemark in a research note on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $42.64.
Several large investors have recently added to or reduced their stakes in CNK. Marshall Wace LLP acquired a new stake in Cinemark in the 1st quarter valued at $65,000. Amundi Pioneer Asset Management Inc. lifted its stake in Cinemark by 5.2% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 122,899 shares of the company’s stock valued at $4,915,000 after acquiring an additional 6,112 shares in the last quarter. LPL Financial LLC lifted its stake in Cinemark by 10.5% during the 2nd quarter. LPL Financial LLC now owns 8,735 shares of the company’s stock valued at $315,000 after acquiring an additional 831 shares in the last quarter. Northern Trust Corp lifted its stake in Cinemark by 1.9% during the 2nd quarter. Northern Trust Corp now owns 938,745 shares of the company’s stock valued at $33,889,000 after acquiring an additional 17,784 shares in the last quarter. Finally, Commonwealth Bank of Australia lifted its stake in Cinemark by 33.3% during the 2nd quarter. Commonwealth Bank of Australia now owns 14,400 shares of the company’s stock valued at $519,000 after acquiring an additional 3,600 shares in the last quarter. Hedge funds and other institutional investors own 99.89% of the company’s stock.
Cinemark Company Profile
Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of December 31, 2018, it operated 341 theatres and 4,586 screens in 41 states of the United States; and 205 theatres and 1,462 screens in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay.
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