Cinemark Sees Unusually Large Options Volume (NYSE:CNK)

Cinemark Holdings Inc (NYSE:CNK) saw some unusual options trading activity on Tuesday. Investors purchased 15,153 call options on the company. This is an increase of approximately 453% compared to the typical volume of 2,740 call options.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Benchmark reissued a “buy” rating on shares of Cinemark in a research note on Thursday, January 15th. B. Riley lowered their price objective on Cinemark from $35.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, January 22nd. Morgan Stanley reissued an “equal weight” rating and set a $28.00 price objective (down previously from $35.00) on shares of Cinemark in a research note on Thursday, December 18th. Wall Street Zen lowered shares of Cinemark from a “hold” rating to a “sell” rating in a report on Saturday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Cinemark from $37.00 to $31.00 and set an “overweight” rating on the stock 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.83.

Insider Activity

In related news, EVP Melissa Thomas sold 22,082 shares of the stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $24.81, for a total transaction of $547,854.42. Following the transaction, the executive vice president owned 167,360 shares of the company’s stock, valued at approximately $4,152,201.60. This trade represents a 11.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

Several hedge funds have recently made changes to their positions in CNK. EverSource Wealth Advisors LLC grew its stake in Cinemark by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $28,000 after purchasing an additional 507 shares during the period. Elevation Point Wealth Partners LLC bought a new stake in shares of Cinemark during the 2nd quarter valued at $47,000. Financial Consulate Inc. purchased a new stake in shares of Cinemark in the 3rd quarter worth about $50,000. Meeder Asset Management Inc. purchased a new stake in shares of Cinemark in the 3rd quarter worth about $63,000. Finally, Smartleaf Asset Management LLC increased its stake in shares of Cinemark by 20.1% in the 3rd 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 Trading Up 0.0%

Cinemark stock traded up $0.00 during mid-day trading on Tuesday, reaching $24.67. 2,931,596 shares of the company traded hands, compared to its average volume of 2,737,865. 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 52-week low of $21.60 and a 52-week high of $34.01. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 23.73, a P/E/G ratio of 2.34 and a beta of 1.13. The firm’s 50 day moving average price is $23.89 and its 200 day moving average price is $26.12.

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

Cinemark Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were issued a dividend of $0.09 per share. This is a positive change from Cinemark’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, November 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.5%. Cinemark’s dividend payout ratio (DPR) is currently 34.62%.

About Cinemark

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.