Sand Grove Capital Management Llp Exits Position in Carmike Cinemas (CKEC)

Carmike Cinemas (CKEC) : Sand Grove Capital Management Llp has sold out all of its stake in Carmike Cinemas during the most recent quarter, according to the disclosure filed by the company on Aug 8, 2016 with the SEC. The investment management company has sold out 418,000 shares of Carmike Cinemas which is valued at $13,179,540.

Other Hedge Funds, Including , Mutual Of America Capital Management reduced its stake in CKEC by selling 349 shares or 0.38% in the most recent quarter. The Hedge Fund company now holds 92,527 shares of CKEC which is valued at $2,795,241. Carmike Cinemas makes up approx 0.06% of Mutual Of America Capital Management’s portfolio. 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. 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.First New York Securities Ny reduced its stake in CKEC by selling 19,855 shares or 95.2% in the most recent quarter. The Hedge Fund company now holds 1,000 shares of CKEC which is valued at $30,140. Carmike Cinemas makes up approx 0.03% of First New York Securities Ny’s portfolio.Havens Advisors reduced its stake in CKEC by selling 13,063 shares or 17.28% in the most recent quarter. The Hedge Fund company now holds 62,537 shares of CKEC which is valued at $1,925,514. Carmike Cinemas makes up approx 1.68% of Havens Advisors’s portfolio.

Carmike Cinemas opened for trading at $31.52 and hit $31.65 on the upside on Monday, eventually ending the session at $31.61, with a gain of 0.03% or 0.01 points. The heightened volatility saw the trading volume jump to 1,78,651 shares. Company has a market cap of $771 M.

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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