Stock Traders Purchase High Volume of Cinemark Call Options (NYSE:CNK)

Cinemark Holdings Inc (NYSE:CNK) saw unusually large options trading activity on Monday. Stock investors acquired 12,446 call options on the stock. This is an increase of approximately 471% compared to the average daily volume of 2,180 call options.

Cinemark Stock Up 3.3%

Shares of NYSE CNK opened at $26.82 on Tuesday. The firm’s 50-day moving average price is $28.12 and its 200-day moving average price is $26.42. The company has a current ratio of 0.62, a quick ratio of 0.58 and a debt-to-equity ratio of 5.03. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of 23.73 and a beta of 1.03. Cinemark has a 12-month low of $21.60 and a 12-month high of $34.01.

Cinemark (NYSE:CNK) last announced its earnings results on Friday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The business had revenue of $643.10 million for the quarter, compared to analysts’ expectations of $632.74 million. Cinemark had a net margin of 5.31% and a return on equity of 41.31%. The firm’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.32) earnings per share. On average, equities research analysts anticipate that Cinemark will post 2.11 EPS for the current fiscal year.

Cinemark Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, May 28th. Cinemark’s dividend payout ratio is currently 31.86%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CNK shares. Roth Mkm reaffirmed a “buy” rating and issued a $37.00 target price on shares of Cinemark in a report on Thursday, April 23rd. Wells Fargo & Company upped their target price on shares of Cinemark from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. B. Riley Financial reiterated a “neutral” rating on shares of Cinemark in a research note on Friday, April 17th. Barrington Research reiterated an “outperform” rating and issued a $36.00 price target on shares of Cinemark in a research note on Monday, May 4th. Finally, Zacks Research upgraded shares of Cinemark from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.31.

Institutional Trading of Cinemark

Hedge funds have recently made changes to their positions in the business. Intech Investment Management LLC raised its position in Cinemark by 129.0% in the 3rd quarter. Intech Investment Management LLC now owns 156,602 shares of the company’s stock worth $4,388,000 after purchasing an additional 88,203 shares during the period. Jain Global LLC raised its position in Cinemark by 37.4% in the 3rd quarter. Jain Global LLC now owns 1,644,623 shares of the company’s stock worth $46,082,000 after purchasing an additional 447,468 shares during the period. Gabelli Funds LLC purchased a new stake in Cinemark in the 3rd quarter worth about $1,444,000. Cartenna Capital LP raised its position in Cinemark by 29.4% in the 3rd quarter. Cartenna Capital LP now owns 1,650,000 shares of the company’s stock worth $46,233,000 after purchasing an additional 375,000 shares during the period. Finally, Junto Capital Management LP purchased a new stake in Cinemark in the 3rd quarter worth about $25,509,000.

Cinemark Company Profile

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.