Tig Advisors adds Carmike Cinemas (CKEC) to its portfolio

Carmike Cinemas (CKEC) : Tig Advisors added new position in Carmike Cinemas during the most recent quarter end. The investment management firm now holds 130,122 shares of Carmike Cinemas which is valued at $4,111,855 , the company said in a statement filed on Aug 15, 2016 with the SEC.Carmike Cinemas makes up approximately 0.52% of Tig Advisors’s portfolio.

Other Hedge Funds, Including , Driehaus Capital Management boosted its stake in CKEC in the latest quarter, The investment management firm added 460,000 additional shares and now holds a total of 2,265,478 shares of Carmike Cinemas which is valued at $71,589,105. Carmike Cinemas makes up approx 2.45% of Driehaus Capital Management’s portfolio. Cornerstone Capital Management Holdings. sold out all of its stake in CKEC during the most recent quarter. The investment firm sold 71,469 shares of CKEC which is valued $2,258,420.Fmr boosted its stake in CKEC in the latest quarter, The investment management firm added 305,000 additional shares and now holds a total of 2,125,000 shares of Carmike Cinemas which is valued at $67,150,000. Carmike Cinemas makes up approx 0.01% of Fmr’s portfolio. Banco Btg Pactual S.a. added CKEC to its portfolio by purchasing 62,341 company shares during the most recent quarter which is valued at $1,956,261. Carmike Cinemas makes up approx 2.23% of Banco Btg Pactual S.a.’s portfolio.Gabelli Funds reduced its stake in CKEC by selling 300 shares or 0.18% in the most recent quarter. The Hedge Fund company now holds 168,400 shares of CKEC which is valued at $5,284,392. Carmike Cinemas makes up approx 0.03% of Gabelli Funds’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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