Carmike Cinemas Inc. (CKEC) Sees Strong Trading Volume
Carmike Cinemas Inc. (NASDAQ:CKEC) shares saw an uptick in trading volume on Thursday . 1,045,112 shares were traded during trading, an increase of 93% from the previous session’s volume of 541,845 shares.The stock last traded at $31.35 and had previously closed at $30.21.
Several analysts have commented on CKEC shares. Wedbush reissued a “neutral” rating and issued a $30.00 price objective on shares of Carmike Cinemas in a report on Friday, July 15th. B. Riley reissued a “neutral” rating and issued a $32.75 price objective on shares of Carmike Cinemas in a report on Tuesday. Finally, Zacks Investment Research raised Carmike Cinemas from a “sell” rating to a “hold” rating in a report on Wednesday, June 8th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Carmike Cinemas presently has an average rating of “Hold” and an average target price of $30.33.
The firm’s 50-day moving average is $30.55 and its 200-day moving average is $28.13. The stock has a market cap of $764.56 million and a price-to-earnings ratio of 627.00.
Carmike Cinemas (NASDAQ:CKEC) last posted its earnings results on Monday, August 1st. The company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.04. The firm earned $204.70 million during the quarter, compared to analyst estimates of $209.35 million. The business’s revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 earnings per share. Analysts expect that Carmike Cinemas Inc. will post $0.40 EPS for the current year.
Several hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System increased 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 valued at $1,041,000 after buying an additional 861 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased 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 valued at $2,368,000 after buying an additional 19,337 shares in the last quarter. Gluskin Sheff & Assoc Inc. increased its stake in 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. Finally, Victory Capital Management Inc. increased 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 valued at $25,691,000 after buying an additional 263,603 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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