Carmike Cinemas Inc. (CKEC) Sees Large Volume Increase
Carmike Cinemas Inc. (NASDAQ:CKEC) shares saw unusually-high trading volume on Monday . Approximately 906,176 shares traded hands during trading, an increase of 82% from the previous session’s volume of 497,680 shares.The stock last traded at $30.74 and had previously closed at $31.13.
Several equities research analysts recently weighed in on the company. Zacks Investment Research lowered Carmike Cinemas from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. B. Riley restated a “neutral” rating and issued a $30.00 target price on shares of Carmike Cinemas in a report on Sunday, May 8th. Finally, Wedbush restated a “neutral” rating and issued a $30.00 target price on shares of Carmike Cinemas in a report on Friday, July 15th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $31.17.
The company has a 50-day moving average price of $30.40 and a 200 day moving average price of $27.73. The firm has a market capitalization of $753.50 million and a P/E ratio of 601.76.
Carmike Cinemas (NASDAQ:CKEC) last released its earnings results on Monday, May 2nd. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by $0.01. The firm earned $206.20 million during the quarter, compared to the consensus estimate of $206.17 million. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.12 earnings per share. Equities research analysts anticipate that Carmike Cinemas Inc. will post $0.47 EPS for the current year.
Several institutional investors have added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its position in Carmike Cinemas by 30.8% in the fourth quarter. Victory Capital Management Inc. now owns 1,119,932 shares of the company’s stock valued at $25,691,000 after buying an additional 263,603 shares in the last quarter. Sei Investments Co. purchased a new position in shares of Carmike Cinemas during the fourth quarter valued at $2,015,000. Gluskin Sheff & Assoc Inc. raised its position in shares of Carmike Cinemas by 40.7% in the fourth quarter. Gluskin Sheff & Assoc Inc. now owns 133,180 shares of the company’s stock valued at $3,055,000 after buying an additional 38,500 shares during the period. Cornerstone Capital Management Holdings LLC. raised its position in shares of Carmike Cinemas by 23.0% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 103,237 shares of the company’s stock valued at $2,368,000 after buying an additional 19,337 shares during the period. Finally, California State Teachers Retirement System raised its position in shares of Carmike Cinemas by 1.9% in the fourth quarter. California State Teachers Retirement System now owns 45,381 shares of the company’s stock valued at $1,041,000 after buying an additional 861 shares during the period.
Carmike Cinemas, Inc is a motion picture exhibitor company. The Company owns and operates theatres and screens. Its theatres are equipped to provide digital cinema. It owns, operates or has an interest in approximately 280 theatres with over 2,940 screens located in over 40 states. In addition, it has approximately 260 theatres with over 1,090 screens equipped for three dimension (3-D).
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