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)

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

Top 6 Cities For The Ultra Rich to Live in Comfort

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

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!