Here is What Hedge Funds Think About Carmike Cinemas, Inc. (CKEC)

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that sold off their entire stakes in the stock during the third quarter. Interestingly, Clint Carlson’s Carlson Capital sold off the largest position of all the hedgies tracked by Insider Monkey, totaling an estimated $11.1 million in stock. Kenneth Mario Garschina’s fund, Mason Capital Management, also cut its stock, about $10.6 million worth.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Carmike Cinemas, Inc. (NASDAQ:CKEC) but similarly valued. These stocks are Veeco Instruments Inc. (NASDAQ:VECO), Harsco Corporation (NYSE:HSC), Federal Signal Corporation (NYSE:FSS), and Varonis Systems Inc (NASDAQ:VRNS). This group of stocks’ market valuations are similar to CKEC’s market valuation.

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $95 million. That figure was $239 million in CKEC’s case. Harsco Corporation (NYSE:HSC) is the most popular stock in this table. On the other hand Veeco Instruments Inc. (NASDAQ:VECO) is the least popular one with only 11 bullish hedge fund positions. Carmike Cinemas, Inc. (NASDAQ:CKEC) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard HSC might be a better candidate to consider taking a long position in.

Disclosure: None