Hedge funds buy Carmike shares, expect rebound-WSJ
Monday, October 17, 2005 : PermalinkNEW YORK, Oct 17 (Reuters) – Several hedge funds have scooped up shares in recent weeks of Carmike Cinemas Inc. (CKEC.O: Quote, Profile, Research), the nation’s third-largest film distributor by number of movie screens, in hopes the beaten-down stock will rebound, the Wall Street Journal reported Monday.
With movie-ticket sales slumping and the popularity of home entertainment soaring, U.S. exhibitors are facing their bleakest prospects in years.
