Carmike Cinemas Inc. (CKEC) Sees Strong Trading Volume
Shares of Carmike Cinemas Inc. (NASDAQ:CKEC) saw an uptick in trading volume on Tuesday . 476,308 shares were traded during trading, an increase of 12% from the previous session’s volume of 425,769 shares.The stock last traded at $29.62 and had previously closed at $29.74.
A number of brokerages recently weighed in on CKEC. Zacks Investment Research upgraded shares of Carmike Cinemas from a “sell” rating to a “hold” rating in a research report on Wednesday, June 8th. B. Riley restated a “neutral” rating and set a $30.00 price objective on shares of Carmike Cinemas in a research report on Tuesday, May 3rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Carmike Cinemas presently has an average rating of “Hold” and an average price target of $31.17.
The stock has a market capitalization of $746.14 million and a PE ratio of 595.88. The stock has a 50 day moving average price of $30.10 and a 200 day moving average price of $27.22.
Carmike Cinemas (NASDAQ:CKEC) last issued its quarterly earnings data on Monday, May 2nd. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $206.20 million for the quarter, compared to analysts’ expectations of $206.17 million. The firm’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 earnings per share. Equities analysts anticipate that Carmike Cinemas Inc. will post $0.52 EPS for the current year.
Several hedge funds and institutional investors have recently modified their holdings of CKEC. Gluskin Sheff & Assoc Inc. increased 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 worth $3,055,000 after buying an additional 38,500 shares during the last quarter. Victory Capital Management Inc. boosted its stake 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 worth $25,691,000 after buying an additional 263,603 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its stake in Carmike Cinemas by 23.0% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 103,237 shares of the company’s stock worth $2,368,000 after buying an additional 19,337 shares during the period. Sei Investments Co. bought a new stake in Carmike Cinemas during the fourth quarter worth approximately $2,015,000. Finally, California State Teachers Retirement System boosted its stake in Carmike Cinemas by 1.9% in the fourth quarter. California State Teachers Retirement System now owns 45,381 shares of the company’s stock worth $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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