Carmike Cinemas Inc. (CKEC) Position Increased by JPMorgan Chase & Co.
JPMorgan Chase & Co. raised its stake in shares of Carmike Cinemas Inc. (NASDAQ:CKEC) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 134,407 shares of the company’s stock after buying an additional 214 shares during the period. JPMorgan Chase & Co. owned about 0.55% of Carmike Cinemas worth $4,048,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Magnetar Financial LLC acquired a new position in shares of Carmike Cinemas during the first quarter worth approximately $34,479,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Carmike Cinemas during the first quarter worth approximately $10,757,000. Renaissance Technologies LLC increased its position in shares of Carmike Cinemas by 360.2% in the first quarter. Renaissance Technologies LLC now owns 607,500 shares of the company’s stock worth $18,249,000 after buying an additional 475,500 shares during the period. Societe Generale acquired a new position in shares of Carmike Cinemas during the second quarter worth approximately $2,738,000. Finally, Sanders Morris Harris Inc. acquired a new position in shares of Carmike Cinemas during the second quarter worth approximately $1,551,000. Institutional investors and hedge funds own 86.62% of the company’s stock.
Carmike Cinemas Inc. (NASDAQ:CKEC) traded up 0.46% during trading on Friday, hitting $32.90. The company had a trading volume of 123,068 shares. The stock has a market capitalization of $802.37 million, a price-to-earnings ratio of 658.00 and a beta of 1.39. Carmike Cinemas Inc. has a 52-week low of $18.52 and a 52-week high of $33.34. The firm’s 50 day moving average is $32.54 and its 200-day moving average is $30.91.
Carmike Cinemas (NASDAQ:CKEC) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.04. The company had revenue of $204.70 million for the quarter, compared to analysts’ expectations of $209.35 million. Carmike Cinemas had a return on equity of 3.65% and a net margin of 0.15%. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 EPS. On average, equities analysts forecast that Carmike Cinemas Inc. will post $0.25 earnings per share for the current year.
A number of equities analysts recently commented on the stock. B. Riley reissued a “neutral” rating and issued a $32.75 price objective on shares of Carmike Cinemas in a research note on Tuesday, August 2nd. Zacks Investment Research downgraded shares of Carmike Cinemas from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 6th. Finally, Wedbush reissued a “neutral” rating and issued a $33.00 price objective on shares of Carmike Cinemas in a research note on Thursday, September 22nd. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Carmike Cinemas currently has a consensus rating of “Hold” and an average price target of $30.83.
About Carmike Cinemas
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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