Today’s Price Action: Does Carmike Cinemas, Inc. Have More Gas After Reaching 52-Week High?

Today's Price Action: Does Carmike Cinemas, Inc. Have More Gas After Reaching 52 Week High?

The stock of Carmike Cinemas, Inc. (NASDAQ:CKEC) hit a new 52-week high and has $45.13 target or 31.00% above today’s $34.45 share price. The 7 months bullish chart indicates low risk for the $838.95M company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $45.13 price target is reached, the company will be worth $260.07 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 291,519 shares traded hands or 0.38% up from the average. Carmike Cinemas, Inc. (NASDAQ:CKEC) has risen 13.11% since April 15, 2016 and is uptrending. It has outperformed by 8.48% the S&P500.

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. $37.0 is the highest target while $30 is the lowest. The $31.81 average target is -7.66% below today’s ($34.45) stock price. Carmike Cinemas has been the topic of 13 analyst reports since July 27, 2015 according to StockzIntelligence Inc. B. Riley & Co maintained the stock with “Buy” rating in Tuesday, July 28 report. Barrington Research maintained Carmike Cinemas, Inc. (NASDAQ:CKEC) rating on Wednesday, July 29. Barrington Research has “Outperform” rating and $31 price target. Macquarie Research downgraded the stock to “Neutral” rating in Wednesday, March 9 report. The rating was downgraded by B. Riley & Co to “Neutral” on Tuesday, March 8. The stock of Carmike Cinemas, Inc. (NASDAQ:CKEC) has “Hold” rating given on Monday, March 7 by Topeka Capital Markets. The stock of Carmike Cinemas, Inc. (NASDAQ:CKEC) has “Neutral” rating given on Monday, March 7 by Wedbush. On Tuesday, November 10 the stock rating was maintained by RBC Capital Markets with “Outperform”. The firm has “Outperform” rating given on Tuesday, July 28 by RBC Capital Markets. RBC Capital Markets downgraded it to “Sector Perform” rating and $30 target price in Wednesday, March 9 report. The firm earned “Buy” rating on Wednesday, December 30 by Topeka Capital Markets.

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 2016 Q2. 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.
Jpmorgan Chase & holds 134,407 shares or 0% of its portfolio. Harvest Management Llc accumulated 75,855 shares or 1.73% of the stock. Sandell Asset Corp last reported 63,000 shares in the company. Carlson Lp has invested 0.14% of its portfolio in Carmike Cinemas, Inc. (NASDAQ:CKEC). Loomis Sayles Lp has invested 0.01% of its portfolio in Carmike Cinemas, Inc. (NASDAQ:CKEC). Citadel Llc holds 0% of its portfolio in Carmike Cinemas, Inc. (NASDAQ:CKEC) for 15,756 shares. Springbok Cap Mngmt Ltd Limited Liability Company last reported 40,975 shares in the company. Legal & General Gp Public Limited has invested 0% of its portfolio in Carmike Cinemas, Inc. (NASDAQ:CKEC). Moreover, Ig has 0% invested in Carmike Cinemas, Inc. (NASDAQ:CKEC) for 24,000 shares. Renaissance holds 0.06% or 1.03M shares in its portfolio. Blackrock Institutional Na reported 657,045 shares or 0% of all its holdings. Great West Life Assurance Can last reported 0% of its portfolio in the stock. D E Shaw Com owns 11,017 shares or 0% of their US portfolio. The Delaware-based Blackrock Advisors Ltd has invested 0% in Carmike Cinemas, Inc. (NASDAQ:CKEC). Invesco Ltd last reported 29,460 shares in the company.

More 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 published the news titled: “A Second Carmike Shareholder Says AMC’s Offer Is Too Low” on March 24, 2016. Businesswire.com‘s news article titled: “Carmike Stockholders Approve Merger Agreement with AMC” with publication date: November 15, 2016 was also an interesting one.

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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