Carmike Cinemas Inc. (NASDAQ:CKEC) was the recipient of a significant growth in short interest in December. As of December 15th, there was short interest totalling 1,723,584 shares, a growth of 109.7% from the November 30th total of 822,120 shares. Based on an average trading volume of 405,987 shares, the days-to-cover ratio is presently 4.2 days.
Shares of Carmike Cinemas (NASDAQ:CKEC) opened at 33.40 on Friday. The company has a 50-day moving average price of $33.56 and a 200-day moving average price of $32.05. Carmike Cinemas has a 12 month low of $18.52 and a 12 month high of $34.53.
Carmike Cinemas (NASDAQ:CKEC) last released its earnings results on Monday, November 7th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.16. The firm earned $209.70 million during the quarter, compared to the consensus estimate of $205.63 million. Carmike Cinemas had a return on equity of 6.73% and a net margin of 0.72%. The company’s revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.19) EPS. On average, equities research analysts expect that Carmike Cinemas will post $0.10 EPS for the current fiscal year.
Several research firms have issued reports on CKEC. B. Riley reiterated a “neutral” rating and set a $32.75 price objective on shares of Carmike Cinemas in a research note on Tuesday. Zacks Investment Research upgraded Carmike Cinemas from a “strong sell” rating to a “hold” rating in a research note on Monday, October 10th. Finally, Wedbush restated a “neutral” rating and issued a $33.00 target price on shares of Carmike Cinemas in a research note on Thursday, September 22nd. One analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Carmike Cinemas currently has an average rating of “Hold” and a consensus price target of $30.83.
Several hedge funds have recently added to or reduced their stakes in the stock. Mittleman Brothers LLC increased its stake in Carmike Cinemas by 33.0% in the second quarter. Mittleman Brothers LLC now owns 2,331,185 shares of the company’s stock worth $70,215,000 after buying an additional 578,275 shares during the last quarter. FMR LLC increased its stake in shares of Carmike Cinemas by 16.8% in the second quarter. FMR LLC now owns 2,125,000 shares of the company’s stock valued at $64,005,000 after buying an additional 305,000 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Carmike Cinemas by 6.1% in the second quarter. Vanguard Group Inc. now owns 968,613 shares of the company’s stock valued at $29,175,000 after buying an additional 55,647 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Carmike Cinemas by 7.2% in the third quarter. BlackRock Fund Advisors now owns 667,807 shares of the company’s stock valued at $21,831,000 after buying an additional 44,712 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Carmike Cinemas by 1.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 664,903 shares of the company’s stock valued at $21,736,000 after buying an additional 7,858 shares in the last quarter. Hedge funds and other institutional investors own 87.54% of the company’s stock.
Carmike Cinemas Company Profile
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).