Manatuck Hill Partners Lowers stake in Carmike Cinemas (CKEC)

Carmike Cinemas (CKEC) : Manatuck Hill Partners reduced its stake in Carmike Cinemas by 27.61% during the most recent quarter end. The investment management company now holds a total of 217,777 shares of Carmike Cinemas which is valued at $6,881,753 after selling 83,068 shares in Carmike Cinemas , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Carmike Cinemas makes up approximately 2.87% of Manatuck Hill Partners’s portfolio.

Other Hedge Funds, Including , Schwab Charles Investment Management Inc boosted its stake in CKEC in the latest quarter, The investment management firm added 1,482 additional shares and now holds a total of 87,045 shares of Carmike Cinemas which is valued at $2,750,622.Rhumbline Advisers reduced its stake in CKEC by selling 9,335 shares or 26.25% in the most recent quarter. The Hedge Fund company now holds 26,229 shares of CKEC which is valued at $828,836.Ubs Asset Management Americas Inc boosted its stake in CKEC in the latest quarter, The investment management firm added 600 additional shares and now holds a total of 11,500 shares of Carmike Cinemas which is valued at $362,595. Diam Ltd. sold out all of its stake in CKEC during the most recent quarter. The investment firm sold 16,400 shares of CKEC which is valued $495,444.Skylands Capital reduced its stake in CKEC by selling 35,250 shares or 79.84% in the most recent quarter. The Hedge Fund company now holds 8,900 shares of CKEC which is valued at $268,246. Carmike Cinemas makes up approx 0.04% of Skylands Capital’s portfolio.

Carmike Cinemas closed down -0.04 points or -0.12% at $32.05 with 86,402 shares getting traded on Thursday. Post opening the session at $32.02, the shares hit an intraday low of $31.99 and an intraday high of $32.12 and the price fluctuated in this range throughout the day.Shares ended Thursday 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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