California Public Employees Retirement System increased its stake in shares of Carmike Cinemas Inc. (NASDAQ:CKEC) by 13.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,300 shares of the company’s stock after buying an additional 7,700 shares during the period. California Public Employees Retirement System owned about 0.26% of Carmike Cinemas worth $1,937,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in CKEC. Magnetar Financial LLC acquired a new position in Carmike Cinemas during the first quarter worth $34,479,000. BlackRock Institutional Trust Company N.A. raised its position in Carmike Cinemas by 2.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 654,377 shares of the company’s stock worth $19,657,000 after buying an additional 14,476 shares during the period. Renaissance Technologies LLC raised its position in 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. OMERS ADMINISTRATION Corp acquired a new position in Carmike Cinemas during the first quarter worth $10,757,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in Carmike Cinemas during the second quarter worth $6,024,000. 86.62% of the stock is owned by institutional investors and hedge funds.
Shares of Carmike Cinemas Inc. (NASDAQ:CKEC) traded up 0.8107% during midday trading on Thursday, reaching $33.2776. The company’s stock had a trading volume of 179,330 shares. The stock’s 50 day moving average price is $32.30 and its 200 day moving average price is $30.78. Carmike Cinemas Inc. has a one year low of $18.52 and a one year high of $33.30. The firm has a market cap of $811.57 million, a price-to-earnings ratio of 665.5520 and a beta of 1.39.
Carmike Cinemas (NASDAQ:CKEC) last released 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 net margin of 0.15% and a return on equity of 3.65%. The business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 EPS. Analysts predict that Carmike Cinemas Inc. will post $0.25 earnings per share for the current year.
A number of equities analysts have recently weighed in on CKEC shares. Zacks Investment Research raised Carmike Cinemas from a “sell” rating to a “hold” rating in a research note on Wednesday, June 8th. Wedbush reaffirmed a “neutral” rating and issued a $33.00 price objective on shares of Carmike Cinemas in a research note on Thursday, September 22nd. Finally, B. Riley reaffirmed a “neutral” rating and issued a $32.75 price objective on shares of Carmike Cinemas in a research note on Tuesday, August 2nd. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus target price 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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