Notable Mover: Will Carmike Cinemas, Inc. Run Out of Steam Soon?

Notable Mover: Will Carmike Cinemas, Inc. Run Out of Steam Soon?

The stock of Carmike Cinemas, Inc. (NASDAQ:CKEC) hit a new 52-week high and has $54.70 target or 66.00% above today’s $32.95 share price. The 7 months bullish chart indicates low risk for the $806.81 million company. The 1-year high was reported on Oct, 3 by Barchart.com. If the $54.70 price target is reached, the company will be worth $532.49M 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 68,741 shares traded hands. Carmike Cinemas, Inc. (NASDAQ:CKEC) has risen 49.00% since February 29, 2016 and is uptrending. It has outperformed by 36.78% 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. B. Riley & Co maintained it with “Buy” rating and $35 target price in Tuesday, July 28 report. The firm has “Outperform” rating given on Tuesday, July 28 by RBC Capital Markets. The rating was downgraded by RBC Capital Markets on Wednesday, March 9 to “Sector Perform”. Wedbush downgraded it to “Neutral” rating and $30 target price in Monday, March 7 report. On Tuesday, November 10 the stock rating was maintained by RBC Capital Markets with “Outperform”. Barrington Research maintained the shares of CKEC in a report on Wednesday, July 29 with “Outperform” rating. The firm earned “Market Perform” rating on Monday, March 7 by Barrington Research. The stock of Carmike Cinemas, Inc. (NASDAQ:CKEC) has “Neutral” rating given on Tuesday, March 8 by B. Riley & Co. The firm earned “Neutral” rating on Wednesday, March 9 by Macquarie Research. Benchmark maintained Carmike Cinemas, Inc. (NASDAQ:CKEC) on Monday, July 27 with “Buy” rating.

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 dived, 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.
Fund Mgmt accumulated 25,200 shares or 0.01% of the stock. Advisory Ser Network Ltd accumulated 700 shares or 0% of the stock. The Illinois-based Northern Trust has invested 0% in Carmike Cinemas, Inc. (NASDAQ:CKEC). Wolverine Asset Mngmt Limited Com has 0% invested in the company for 700 shares. Davidson Advsrs has invested 0% of its portfolio in Carmike Cinemas, Inc. (NASDAQ:CKEC). Bbt Mgmt Lc has 301,187 shares for 1.41% of their US portfolio. Sei accumulated 69 shares or 0% of the stock. Punch And Assoc Investment Mgmt last reported 0.43% of its portfolio in the stock. Sandell Asset has 63,000 shares for 0.42% of their US portfolio. Pnc Ser Group Inc has invested 0% of its portfolio in Carmike Cinemas, Inc. (NASDAQ:CKEC). The New York-based Quinn Opportunity Prtn Lc has invested 0.14% in Carmike Cinemas, Inc. (NASDAQ:CKEC). Blackrock Gp Incorporated Limited has 12,940 shares for 0% of their US portfolio. Mason Cap Limited Liability Corp holds 0.34% or 351,065 shares in its portfolio. Manatuck Hill Prns Ltd has 2.89% invested in the company for 217,777 shares. Skylands Limited Liability has 8,900 shares for 0.04% 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 Fool.com with their article: “Carmike Cinemas Inc. Surges on Acquisition by AMC Entertainment Holdings” published on March 04, 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: Prnewswire.com and their article: “Mittleman Brothers, LLC Alerts Carmike Cinemas Shareholders that Proxy …” published on June 21, 2016 as well as Prnewswire.com‘s news article titled: “Driehaus Capital Management to Vote in Favor of Revised Carmike Cinema Offer” with publication date: August 04, 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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