Carmike Cinemas Inc. (CKEC) Sees Strong Trading Volume
Carmike Cinemas Inc. (NASDAQ:CKEC) saw an uptick in trading volume on Tuesday . 476,308 shares were traded during mid-day 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.
Several brokerages have issued reports on CKEC. Zacks Investment Research cut Carmike Cinemas from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 6th. B. Riley reissued a “neutral” rating and issued a $30.00 target price on shares of Carmike Cinemas in a research report on Sunday, May 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $31.17.
The firm has a market cap of $757.92 million and a P/E ratio of 605.29. The stock’s 50 day moving average is $30.13 and its 200 day moving average is $27.25.
Carmike Cinemas (NASDAQ:CKEC) last announced its earnings results on Monday, May 2nd. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.01. The company earned $206.20 million during the quarter, compared to the consensus estimate of $206.17 million. Carmike Cinemas’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.12 earnings per share. On average, analysts forecast that Carmike Cinemas Inc. will post $0.47 earnings per share for the current fiscal year.
A number of hedge funds and institutional investors have made changes to their positions in CKEC. Victory Capital Management Inc. raised its position in shares of 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. 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 in the last quarter. 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 in the last quarter. Sei Investments Co. acquired a new position in shares of Carmike Cinemas during the fourth quarter valued at about $2,015,000. 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 in the last quarter.
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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