Deimos Asset Management adds Carmike Cinemas (CKEC) to its portfolio

Carmike Cinemas (CKEC) : Deimos Asset Management added new position in Carmike Cinemas during the most recent quarter end. The investment management firm now holds 123,200 shares of Carmike Cinemas which is valued at $3.7 Million , the company said in a statement filed on May 13, 2016 with the SEC.Carmike Cinemas makes up approximately 3.10% of Deimos Asset Management’s portfolio.

Other Hedge Funds, Including , Hsbc Holdings Plc boosted its stake in CKEC in the latest quarter, The investment management firm added 74 additional shares and now holds a total of 9,210 shares of Carmike Cinemas which is valued at $275,011.Boston Partners reduced its stake in CKEC by selling 584,780 shares or 63.87% in the most recent quarter. The Hedge Fund company now holds 330,750 shares of CKEC which is valued at $9.9 Million. Carmike Cinemas makes up approx 0.01% of Boston Partners’s portfolio. Capital Fund Management S.a. added CKEC to its portfolio by purchasing 25,200 company shares during the most recent quarter which is valued at $753,984. Carmike Cinemas makes up approx 0.01% of Capital Fund Management S.a.’s portfolio. Kassirer Asset Management Corp added CKEC to its portfolio by purchasing 18,400 company shares during the most recent quarter which is valued at $550,528. Carmike Cinemas makes up approx 0.65% of Kassirer Asset Management Corp’s portfolio.

Carmike Cinemas opened for trading at $29.8 and hit $29.99 on the upside on Wednesday, eventually ending the session at $29.96, with a gain of 0.60% or 0.18 points. The heightened volatility saw the trading volume jump to 4,17,077 shares. Company has a market cap of $736 M.

On the company’s financial health, Carmike Cinemas reported $0.22 EPS for the quarter, based on the information available during the earnings call on May 2, 2016. Analyst had a consensus estimate of $0.22. The company had revenue of $206.19 million for the quarter, compared to analysts expectations of $207.07 million. The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS.

Many Wall Street Analysts have commented on Carmike Cinemas. Carmike Cinemas was Downgraded by Macquarie to ” Neutral” on Mar 9, 2016. Company shares were Downgraded by RBC Capital Mkts on Mar 9, 2016 to ” Sector Perform”, Firm has raised the Price Target to $ 30 from a previous price target of $29 .Carmike Cinemas was Downgraded by Barrington Research to ” Mkt Perform” on Mar 7, 2016.

Carmike Cinemas Inc. (Carmike) is a motion picture exhibitor company. The Company owns and operates theatres and screens. In certain locations the Company offers a food and beverage menu including the sale of alcoholic beverages. The Company owns and operates approximately 274 theatres with 2909 screens located in 41 states. In addition it has approximately 257 theatres with 1080 screens (37% of its screens) equipped for three dimension (3-D). The Company operates one family entertainment center under the name Hollywood Connection which features a multiplex theatre and other forms of family entertainment. It also operates two Bogart’s Bar and Grill Restaurants (Bogart’s). Bogart’s is a full service restaurant and bar. As of December 31 2014 the Company operated 45 auditoriums which operate under the Big D IMAX and MuviXL names. The Company sells its tickets at its theatre box offices before the start of a film.

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