Cinemark Holdings, Inc. (NYSE:CNK) Short Interest Down 6.2% in January

Cinemark Holdings, Inc. (NYSE:CNK) was the target of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 24,060,000 shares, a decrease of 6.2% from the January 15th total of 25,650,000 shares. Approximately 22.0% of the shares of the company are short sold. Based on an average daily volume of 2,340,000 shares, the short-interest ratio is currently 10.3 days.

Cinemark Stock Performance

Cinemark stock opened at $33.10 on Wednesday. Cinemark has a 1-year low of $15.74 and a 1-year high of $36.28. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.46. The firm has a market capitalization of $4.05 billion, a PE ratio of 21.35 and a beta of 2.38. The firm’s 50 day simple moving average is $30.54 and its 200 day simple moving average is $29.72.

Analyst Ratings Changes

A number of analysts have issued reports on CNK shares. Macquarie raised their target price on Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Barrington Research raised Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a report on Thursday, October 31st. Wells Fargo & Company dropped their price objective on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of Cinemark in a research note on Friday, January 10th. Finally, Wedbush restated a “neutral” rating and set a $32.00 price target on shares of Cinemark in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $32.80.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its position in Cinemark by 100.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company’s stock worth $127,159,000 after buying an additional 2,054,579 shares in the last quarter. Candlestick Capital Management LP grew its holdings in shares of Cinemark by 48.1% during the fourth quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company’s stock worth $152,782,000 after purchasing an additional 1,601,537 shares in the last quarter. Maverick Capital Ltd. increased its position in shares of Cinemark by 1,356.4% in the third quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company’s stock worth $42,255,000 after purchasing an additional 1,413,557 shares during the last quarter. Simcoe Capital Management LLC purchased a new stake in Cinemark in the fourth quarter valued at approximately $37,763,000. Finally, Man Group plc bought a new stake in Cinemark during the fourth quarter valued at approximately $28,040,000.

About Cinemark

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.