Mittleman Brothers buys $73,665,446 stake in Carmike Cinemas (CKEC)

Carmike Cinemas (CKEC) : Mittleman Brothers scooped up 578,275 additional shares in Carmike Cinemas during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 2,331,185 shares of Carmike Cinemas which is valued at $73,665,446.Carmike Cinemas makes up approximately 29.85% of Mittleman Brothers’s portfolio.

Other Hedge Funds, Including , Bbt Capital Management boosted its stake in CKEC in the latest quarter, The investment management firm added 83,000 additional shares and now holds a total of 301,187 shares of Carmike Cinemas which is valued at $9,517,509. Carmike Cinemas makes up approx 2.47% of Bbt Capital Management’s portfolio. River Road Asset Management sold out all of its stake in CKEC during the most recent quarter. The investment firm sold 442,145 shares of CKEC which is valued $13,874,510. Her Majesty The Queen In Right Of The Province Of Alberta… added CKEC to its portfolio by purchasing 200,000 company shares during the most recent quarter which is valued at $6,042,000. Carmike Cinemas makes up approx 0.08% of Her Majesty The Queen In Right Of The Province Of Alberta…’s portfolio.California Public Employees Retirement System boosted its stake in CKEC in the latest quarter, The investment management firm added 7,700 additional shares and now holds a total of 64,300 shares of Carmike Cinemas which is valued at $1,942,503. Orinda Asset Management added CKEC to its portfolio by purchasing 19,315 company shares during the most recent quarter which is valued at $583,506. Carmike Cinemas makes up approx 0.63% of Orinda Asset Management’s portfolio.

Carmike Cinemas closed down -0.14 points or -0.44% at $31.77 with 1,08,559 shares getting traded on Friday. Post opening the session at $31.96, the shares hit an intraday low of $31.67 and an intraday high of $31.96 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Carmike Cinemas reported $0.10 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Aug 1, 2016. Analyst had a consensus of $0.17. The company had revenue of $204.67 million for the quarter, compared to analysts expectations of $210.78 million. The company’s revenue was down -6.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.36 EPS.

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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