Is Carmike Cinemas, Inc. (CKEC) Going to Burn These Hedge Funds?

Page 1 of 2

What should smart Carmike Cinemas, Inc. (NASDAQ:CKEC) investors do?

In the 21st century investor’s toolkit, there are a multitude of methods investors can use to analyze Mr. Market. A duo of the most innovative are hedge fund and insider trading sentiment. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the top hedge fund managers can outpace the broader indices by a significant amount (see just how much).

Equally as key, optimistic insider trading sentiment is a second way to look at the financial markets. Obviously, there are plenty of motivations for an executive to drop shares of his or her company, but just one, very obvious reason why they would behave bullishly. Many academic studies have demonstrated the useful potential of this tactic if piggybackers understand where to look (learn more here).

Thus, let’s discuss the newest info for Carmike Cinemas, Inc. (NASDAQ:CKEC).

How have hedgies been trading Carmike Cinemas, Inc. (NASDAQ:CKEC)?

In preparation for the third quarter, a total of 14 of the hedge funds we track were bullish in this stock, a change of -30% from the first quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists a select group of noteworthy hedge fund managers who were increasing their stakes meaningfully.

Carmike Cinemas, Inc. (NASDAQ:CKEC)When using filings from the hedgies we track, Mark Broach’s Manatuck Hill Partners had the largest position in Carmike Cinemas, Inc. (NASDAQ:CKEC), worth close to $31.3 million, accounting for 3.8% of its total 13F portfolio. Coming in second is Hirzel Capital Management, managed by Zac Hirzel, which held a $15.4 million position; the fund has 3.7% of its 13F portfolio invested in the stock. Other peers that hold long positions include Jim Simons’s Renaissance Technologies, Abby Flamholz and Yehuda Blinder’s ADAR Investment Management and Robert B. Gillam’s McKinley Capital Management.

Because Carmike Cinemas, Inc. (NASDAQ:CKEC) has faced a fall in interest from the top-tier hedge fund industry, it’s safe to say that there is a sect of fund managers that slashed their entire stakes at the end of the second quarter. At the top of the heap, Israel Englander’s Millennium Management cut the biggest position of the 450+ funds we watch, comprising close to $2.5 million in stock, and Ken Griffin of Citadel Investment Group was right behind this move, as the fund said goodbye to about $1.6 million worth. These moves are intriguing to say the least, as aggregate hedge fund interest fell by 6 funds at the end of the second quarter.

What have insiders been doing with Carmike Cinemas, Inc. (NASDAQ:CKEC)?

Bullish insider trading is best served when the company in question has experienced transactions within the past six months. Over the latest six-month time frame, Carmike Cinemas, Inc. (NASDAQ:CKEC) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).

We’ll also examine the relationship between both of these indicators in other stocks similar to Carmike Cinemas, Inc. (NASDAQ:CKEC). These stocks are Regal Entertainment Group (NYSE:RGC), Dreamworks Animation Skg Inc (NASDAQ:DWA), Reading International, Inc. (NASDAQ:RDI), RealD (NYSE:RLD), and Rentrak Corporation (NASDAQ:RENT). This group of stocks are the members of the movie production, theaters industry and their market caps are similar to CKEC’s market cap.

Page 1 of 2
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!