Notable Mover: Is Buying Carmike Cinemas, Inc. Here a Winning Strategy?

Notable Mover: Is Buying Carmike Cinemas, Inc. Here a Winning Strategy?

The stock of Carmike Cinemas, Inc. (NASDAQ:CKEC) hit a new 52-week high and has $41.45 target or 23.00% above today’s $33.70 share price. The 6 months bullish chart indicates low risk for the $825.64M company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $41.45 price target is reached, the company will be worth $189.90 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 540,115 shares traded hands or 132.46% up from the average. Carmike Cinemas, Inc. (NASDAQ:CKEC) has risen 10.59% since April 7, 2016 and is uptrending. It has outperformed by 5.81% the S&P500.

Analysts await Carmike Cinemas, Inc. (NASDAQ:CKEC) to report earnings on November, 14. They expect $-0.02 EPS, up 90.91% or $0.20 from last year’s $-0.22 per share. After $0.08 actual EPS reported by Carmike Cinemas, Inc. for the previous quarter, Wall Street now forecasts -125.00% negative EPS growth.

Carmike Cinemas, Inc. (NASDAQ:CKEC) Ratings Coverage

Out of 7 analysts covering Carmike Cinemas (NASDAQ:CKEC), 1 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 14% are positive. Carmike Cinemas has been the topic of 13 analyst reports since July 27, 2015 according to StockzIntelligence Inc. Topeka Capital Markets maintained Carmike Cinemas, Inc. (NASDAQ:CKEC) rating on Wednesday, December 30. Topeka Capital Markets has “Buy” rating and $37.0 price target. The stock has “Market Perform” rating given by Barrington Research on Monday, March 7. The stock of Carmike Cinemas, Inc. (NASDAQ:CKEC) has “Outperform” rating given on Tuesday, July 28 by RBC Capital Markets. The firm earned “Outperform” rating on Tuesday, November 10 by RBC Capital Markets. The stock has “Neutral” rating given by B. Riley & Co on Tuesday, March 8. B. Riley & Co maintained it with “Buy” rating and $35 target price in Tuesday, July 28 report. The stock of Carmike Cinemas, Inc. (NASDAQ:CKEC) earned “Neutral” rating by Macquarie Research on Wednesday, March 9. The rating was downgraded by Topeka Capital Markets to “Hold” on Monday, March 7. Wedbush downgraded Carmike Cinemas, Inc. (NASDAQ:CKEC) on Monday, March 7 to “Neutral” rating. The firm has “Buy” rating given on Monday, July 27 by Benchmark.

According to Zacks Investment Research, “Carmike Cinemas is one of the largest motion picture exhibitors in the United States. Carmike targets small to mid-size non-urban markets.”

Insitutional Activity: The institutional sentiment decreased to 0.88 in Q2 2016. Its down 0.30, from 1.18 in 2016Q1. The ratio worsened, as 30 funds sold all Carmike Cinemas, Inc. shares owned while 37 reduced positions. 25 funds bought stakes while 34 increased positions. They now own 19.54 million shares or 9.56% less from 21.60 million shares in 2016Q1.
Omers Administration Corporation accumulated 429,200 shares or 0.27% of the stock. Mutual Of America Cap Llc holds 0.06% of its portfolio in Carmike Cinemas, Inc. (NASDAQ:CKEC) for 92,527 shares. Wolverine Asset Mngmt Limited Liability Corporation reported 700 shares or 0% of all its holdings. California Public Employees Retirement Sys accumulated 0% or 64,300 shares. Loomis Sayles & Lp has invested 0.01% of its portfolio in Carmike Cinemas, Inc. (NASDAQ:CKEC). Havens Limited Liability has 62,537 shares for 1.43% of their US portfolio. Barclays Public Limited Com holds 0% or 3,502 shares in its portfolio. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Invest Management accumulated 200,000 shares or 0.07% of the stock. Schwab Charles Mgmt holds 0% or 87,045 shares in its portfolio. Gabelli Securities Inc has 0.25% invested in the company for 64,269 shares. Moreover, Thomas White has 0% invested in Carmike Cinemas, Inc. (NASDAQ:CKEC) for 205 shares. State Board Of Administration Of Florida Retirement Sys holds 0% or 11,291 shares in its portfolio. Moreover, Sg Americas Secs Ltd Liability Co has 0.02% invested in Carmike Cinemas, Inc. (NASDAQ:CKEC) for 90,897 shares. California State Teachers Retirement holds 0% of its portfolio in Carmike Cinemas, Inc. (NASDAQ:CKEC) for 50,516 shares. Legal & General Gp Public Limited Com owns 4,040 shares or 0% of their US portfolio.

More notable recent Carmike Cinemas, Inc. (NASDAQ:CKEC) news were published by: Marketwatch.com which released: “AMC agrees to $1.2 billion acquisition of Carmike Cinemas” on July 25, 2016, also Bloomberg.com with their article: “A Second Carmike Shareholder Says AMC’s Offer Is Too Low” published on March 24, 2016, Fool.com published: “Instant Analysis: AMC Entertainment to Acquire Carmike Cinemas Inc.” on March 07, 2016. More interesting news about Carmike Cinemas, Inc. (NASDAQ:CKEC) were released by: Fool.com and their article: “Carmike Cinemas Inc. Surges on Acquisition by AMC Entertainment Holdings” published on March 04, 2016 as well as Prnewswire.com‘s news article titled: “Mittleman Brothers, LLC Sees Carmike Cinemas’ Delay of Special Meeting as …” with publication date: June 30, 2016.

CKEC Company Profile

Carmike Cinemas, Inc., incorporated on April 2, 1982, is a motion picture exhibitor company. The Firm owns and operates theatres and screens. The Company’s theatres are equipped to provide digital cinema. The Firm owns, operates or has an interest in approximately 280 theatres with over 2,940 screens located in over 40 states. In addition, the Company has approximately 260 theatres with over 1,090 screens equipped for three dimension (3-D). The Firm is focused on mid-size non-urban markets. The Firm operates approximately 20 theatres with over 110 screens as discount theatres.

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