Cinemark Sees Unusually Large Options Volume (NYSE:CNK)

Cinemark Holdings Inc (NYSE:CNK) was the recipient of some unusual options trading activity on Thursday. Stock traders purchased 15,000 call options on the stock. This is an increase of approximately 447% compared to the average daily volume of 2,744 call options.

Cinemark Trading Up 1.0%

CNK stock traded up $0.28 during midday trading on Thursday, hitting $27.95. The stock had a trading volume of 306,797 shares, compared to its average volume of 2,564,039. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 4.74. The firm has a market cap of $3.23 billion, a P/E ratio of 32.09 and a beta of 1.08. The business has a fifty day moving average price of $25.81 and a two-hundred day moving average price of $26.10. Cinemark has a 1-year low of $21.60 and a 1-year high of $34.01.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The business 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 business’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.33 earnings per share. On average, sell-side analysts predict that Cinemark will post 1.93 earnings per share for the current fiscal year.

Cinemark Announces Dividend

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

Insider Activity

In other news, EVP Melissa Thomas sold 7,944 shares of Cinemark stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $26.05, for a total transaction of $206,941.20. Following the transaction, the executive vice president owned 159,416 shares in the company, valued at approximately $4,152,786.80. The trade was a 4.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Cinemark

A number of institutional investors and hedge funds have recently modified their holdings of the business. Intech Investment Management LLC boosted its stake in Cinemark by 129.0% during the third quarter. Intech Investment Management LLC now owns 156,602 shares of the company’s stock worth $4,388,000 after acquiring an additional 88,203 shares in the last quarter. Jain Global LLC increased its stake in Cinemark by 37.4% in the third quarter. Jain Global LLC now owns 1,644,623 shares of the company’s stock valued at $46,082,000 after purchasing an additional 447,468 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Cinemark by 758.9% during the second quarter. Marshall Wace LLP now owns 4,497,305 shares of the company’s stock valued at $135,729,000 after purchasing an additional 3,973,689 shares during the period. Junto Capital Management LP acquired a new position in shares of Cinemark during the third quarter valued at about $25,509,000. Finally, Y Intercept Hong Kong Ltd boosted its position in shares of Cinemark by 108.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 90,886 shares of the company’s stock worth $2,547,000 after purchasing an additional 47,288 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Zacks Research raised Cinemark from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. UBS Group raised Cinemark to a “buy” rating in a research note on Tuesday, January 20th. Benchmark restated a “buy” rating on shares of Cinemark in a research report on Thursday, February 19th. Moffett Nathanson raised Cinemark from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Tuesday, January 20th. Finally, Macquarie Infrastructure reduced their target price on Cinemark from $36.00 to $34.00 and set an “outperform” rating on the stock in a report on Thursday, January 15th. Ten analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.08.

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.