The CEO and President Ups His Stakes at Carmike Cinemas, Inc. (CKEC)

On Jan. 15th, David S Passman, President and Chief Executive Officer at Carmike Cinemas, Inc. (NASDAQ:CKEC), filed a Form 4 report with the U.S. Securities and Exchange Commission, declaring a purchase of the company’s stock. The insider acquired 207 shares for $27.20 per common unit. After the reported transactions, he directly owns 295,719 shares. *

RENAISSANCE TECHNOLOGIES

Carmike Cinemas, Inc. (NASDAQ:CKEC) is, as its name clearly indicates, a motion picture exhibitor that owns and operates 249 theatres with 2,502 screens located in 35 states in the United States. Trading at only 5.2 times its earnings, less than 1/3 of the industry average valuation, while offering industry leading returns on equity and assets, this stock looks like a catch. In fact, most analysts consider this company´s stock to be a buy or strong buy case, even in spite of its high debt levels (debt-to-equity ratio is 1.8 x, compared to an industry mean of 0.7 x).

Besides analysts and Mr. Passman, hedge funds also seem to like Carmike Cinemas, Inc. (NASDAQ:CKEC). In its last 13F form, Zac Hirzel’s Hirzel Capital Management – the largest “hedge fund bull” – declared an increase of 121% in its position in the stock. The fund now holds more than 1.75 million shares, valued at approximately $46 million. This position comprised 6.5% of the Hirzel Capital Management’s Q3 equity portfolio.

Second, in terms of bullish sentiment, is Mark Broach’s Manatuck Hill Partners, which also augmented its bets on Carmike Cinemas, Inc. (NASDAQ:CKEC) over the last reported quarter. The fund upped its stakes by 6%, and owned more 1.72 million shares at the end of the third quarter, which accounted for 4.89% of its total equity portfolio holdings.

Finally, third in line is Jim Simons’ Renaissance Technologies. It seems like Simons’ formula must have detected something interesting in Carmike Cinemas, Inc. (NASDAQ:CKEC)´s stock, as the fund boosted its involvement in the company by 42% in its last reported quarter. Simons’ fund now owns 741,200 shares.

 

*Includes 20,000 shares of restricted stock granted on March 11, 2011 (previously reported) which will vest on March 11, 2014, 30,000 shares of restricted stock granted on March 15, 2012 (previously reported) which will vest on March 11, 2014, 30,000 shares of restricted stock granted on March 15, 2012 (previously reported) which will vest on March 15, 2015, 30,000 shares of restricted stock (previously reported) which will vest on February 28, 2016, and 33,600 performance shares (previously reported) which will be issued in 2015, in all cases provided Reporting Person remains continuously employed until each vesting date.

Disclosure: Javier Hasse holds no position in any stocks mentioned

Recommended Reading:

An Insider’s Bet on American Campus Communities (ACC)

Five Interesting Insider Purchases From the Beginning of 2014

Both Insiders and Hedge Funds Seem to Love American Realty Capital Properties (ARCP)

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 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

The 10 Most Peaceful Countries in the World

5 Big Reasons Communism Failed

The 15 Most Famous Carl Icahn Quotes

10 Scary Animals that are Actually Harmless

The 8 Most Famous Singer-Actors in Entertainment

The 10 Longest Wars of All Time

The 13 Worst Looking Foods that Taste Great

The 6 Most Gruesome Injuries Suffered During a Sports Match

The 20 Biggest Contracts in MLB History

The 7 Worst Blown Calls in Sports History

7 Free Ways to Advertise Your Business Online

The 18 Best R&B Songs of the 90’s

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!