Checking in on Cinemark Holdings Inc. (CNK) after recent insiders movement

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Cinemark Holdings Inc.’s recent filing unveils that its Director SENIOR ENRIQUE unloaded Company’s shares for reported $0.44 million on Dec 09. In the deal valued at $12.47 per share,35,054 shares were sold. As a result of this transaction, SENIOR ENRIQUE now holds 46,609 shares worth roughly $ 0.54 million.

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JP Morgan upgraded its Cinemark Holdings Inc. [CNK] rating to an Overweight from a a Neutral in a research note published on Tuesday. PT values the company’s stock at a premium of 22.47 to its Tuesday closing price. A number of analysts have revised their coverage, including B. Riley Securities’s analysts, who remained covering the stock and in early January has reiterated a ‘”a Buy”‘ rating for it. B. Riley Securities also remained covering CNK and reiterated its “Buy” recommendation on October 12, 2022. Credit Suisse revised its rating on October 12, 2022. It rated CNK as “an Underperform” which previously was an “an Outperform”.

Price Performance Review of CNK

On Tuesday, Cinemark Holdings Inc. [NYSE:CNK] saw its stock jump 3.93% to $11.63. On the same session, the stock had its day’s lowest price of $11.00, but rose to a high of $11.69. Over the last five days, the stock has gained 4.87%. Cinemark Holdings Inc. shares have risen nearly 34.30% since the year began. Nevertheless, the stocks have fallen -27.31% over the past one year. While a 52-week high of $19.76 was reached on 01/24/23, a 52-week low of $8.28 was recorded on 01/06/23. SMA at 50 days reached $11.19, while 200 days put it at $13.89. A total of 2.68 million shares were traded, compared to the trading of 1.99 million shares in the previous session.

Levels Of Support And Resistance For CNK Stock

The 24-hour chart illustrates a support level at 11.19, which if violated will result in even more drops to 10.75. On the upside, there is a resistance level at 11.88. A further resistance level may holdings at 12.13. The Relative Strength Index (RSI) on the 14-day chart is 63.47, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.18, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 1.79%. Stochastics %K at 95.25% indicates the stock is a selling.

How much short interest is there in Cinemark Holdings Inc.?

A steep rise in short interest was recorded in Cinemark Holdings Inc. stocks on Oct 13, 2022, growing by 2.39 million shares to a total of 21.67 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2022 was 19.28 million shares. There was a rise of 11.03%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 27.82% of the overall stock float, the days-to-cover ratio (short ratio) rose to 6.05.

Cinemark Holdings Inc. [CNK] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 16,101,293 shares, or roughly 13.37% of the outstanding CNK shares. In other words, the investor’s shares have fallen by -212,704 from its previous 13-F filing of 16313997.0. Additionally, Wellington Management Co. LLP increased 10.31% of its stake after which the total value it holdings stand at $110,174,191, while The Vanguard Group, Inc. reduced -0.33% of its stake to hold $105.12 million in the firm. At present, Polaris Capital Management LLC is holding 3,856,396 shares valued at $33.4 million. Fidelity Management & Research Co owned 3,802,101 shares of the company at the time of its most recent 13F filing, worth $32.93 million.

According to FactSet, Cinemark Holdings Inc.’s share price will average $14.08 in the next year, based on opinions of analysts polled by the firm. This is up nearly 34.05 percent from its previous closing price of $11.19. Analysts expect Cinemark Holdings Inc. stock to reach the higher price of $18.00, while the lowest price estimate is $9.00. However, 12 analysts have rated CNK stock as an Overweight in their predictions for 2023.

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