Cinemark Sees Unusually Large Options Volume (CNK)

Cinemark Holdings, Inc. (NYSE:CNK) saw unusually large options trading on Wednesday. Stock investors bought 520 call options on the stock. This represents an increase of 654% compared to the average daily volume of 69 call options.

Cinemark (NYSE:CNK) opened at $37.59 on Friday. The firm has a market capitalization of $4,380.00, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 1.01 and a beta of 1.15. The company has a quick ratio of 1.46, a current ratio of 1.50 and a debt-to-equity ratio of 1.50. Cinemark has a fifty-two week low of $32.03 and a fifty-two week high of $44.84.

Several research firms recently issued reports on CNK. Zacks Investment Research upgraded Cinemark from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Thursday, February 1st. Morgan Stanley boosted their price target on Cinemark from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Wedbush set a $42.00 price target on Cinemark and gave the company a “buy” rating in a research note on Monday, October 30th. B. Riley restated a “buy” rating and issued a $47.00 price target on shares of Cinemark in a research note on Tuesday, December 5th. Finally, MKM Partners reduced their price target on Cinemark to $44.00 and set a “buy” rating for the company in a research note on Wednesday, January 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $41.61.

In related news, Director Lee Roy Mitchell sold 299,700 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $36.43, for a total value of $10,918,071.00. Following the completion of the sale, the director now directly owns 5,528,843 shares in the company, valued at approximately $201,415,750.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tom Owens sold 9,213 shares of the business’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $36.00, for a total value of $331,668.00. Following the completion of the sale, the executive vice president now owns 42,722 shares of the company’s stock, valued at $1,537,992. The disclosure for this sale can be found here. Insiders have sold a total of 483,820 shares of company stock valued at $17,672,093 over the last quarter. 9.20% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cable Hill Partners LLC raised its holdings in shares of Cinemark by 3,300.0% during the 3rd quarter. Cable Hill Partners LLC now owns 2,958 shares of the company’s stock worth $107,000 after buying an additional 2,871 shares in the last quarter. Cerebellum GP LLC acquired a new position in shares of Cinemark during the 4th quarter worth $118,000. Ffcm LLC acquired a new position in shares of Cinemark during the 3rd quarter worth $125,000. Zions Bancorporation acquired a new position in shares of Cinemark during the 3rd quarter worth $125,000. Finally, Advisor Group Inc. raised its holdings in shares of Cinemark by 2.3% during the 2nd quarter. Advisor Group Inc. now owns 3,767 shares of the company’s stock worth $145,000 after buying an additional 84 shares in the last quarter. 91.90% of the stock is owned by hedge funds and other institutional investors.

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About Cinemark

Cinemark Holdings, Inc is engaged in the motion picture exhibition business with theatres in the United States (U.S.), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Paraguay, Curacao and Bolivia. The Company manages its business in two segments: U.S.

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