Cinemark Holdings Inc (CNK) : The traders have covered their outstanding shorts in Cinemark Holdings Inc (CNK) to the tune of -397,679 shares, a change of -7.3%. As on Jul 29, 2016, the outstanding shorts on the stock were 5,469,157 shares, however, by August 15, 2016, the shorts had reduced to 5,071,478 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 4.8% of the free float of the stock. It takes 5 days to cover the outstanding short positions. The stock has an average daily volume of 926,544 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Cinemark Holdings Inc (NYSE:CNK): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $38.03 and $37.83 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $38.66. The buying momentum continued till the end and the stock did not give up its gains. It closed at $38.52, notching a gain of 1.64% for the day. The total traded volume was 597,993 . The stock had closed at $37.90 on the previous day.
In a related news,The officer (Pr – Cinemark International) of Cinemark Holdings, Inc., Fernandes Valmir sold 17,983 shares at $35.78 on June 1, 2016. The Insider selling transaction had a total value worth of $643,432. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Cinemark Holdings, Inc. is engaged in the motion picture exhibition business with theatres in the United States, Brazil, Mexico, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala and Bolivia. The Company manages its business in two segments: U.S. markets and international markets. As of December 31, 2014, the Company operated 495 theatres and 5,676 screens in 41 states and 13 Latin American countries. The Company develops new platforms and markets concepts for its domestic theatre circuit, including NextGen, CineArts, Cinemark Bistro, Cinemark Reserve and other premium concepts, such as its Cinemark XD Extreme Digital Cinema (XD). As of December 31, 2014, the Companys United States circuit had 335 theatres and 4,499 screens in 41 states and its international circuit had 160 theatres and 1,177 screens.