Billionaire Mark Cuban disclosed a 9.4%, or 1,200,000 share, stake in Carmike Cinemas, Inc. (Nasdaq: CKEC). Cuban did not hold a prior stake in the company.
Curban disclosed that he paid $2,758,376 for the shares, or about $2.30 per share. Purchases were made from October through December. Shares of Carmike Cinemas closed at $2.03 on Friday.
Some of these stocks hit 52-week lows and recovered off of lows so they won’t have a low close. But these did all touch or breach the 52-week lows. At the end we also broke out retail stocks, financial stocks, airlines & transports, and hotels. A separate report could have been compiled for REIT’s as well, but many of those were left off because of room or volume. There were enough 52-week lows today that you might even wonder if there had been a mini-crash in the markets. Here are the 52-week lows for December 28, 2007:
Retail Stocks on 52-week lows: Ann Taylor (NYSE:ANN), Big Lots (NYSE:BIG), Borders Group (NYSE:BGP), Bon Ton Stores (NASDAQ:BONT), Chico’s FAS (NYSE:CHS), Finish Line (NASDAQ:FINL), Liz Claiborne (NYSE: LIZ), Macy’s (NYSE: M), Office Max (NYSE:OMX), Petsmart (NASDAQ:PETM), Stage Stores (NYSE:SSI)
Financial stocks on 52-week lows: Bear Stearns (NYSE: BSC), Citigroup (NYSE:C), Canseco (NYSE: CNO), Discover Financial (NYSE: DFS), Fifth Third Bancorp (NASDAQ:FITB), Fortress Investment (NYSE: FIG), MBIA Inc. (NYSE: MBI), Washington Mutual (NYSE:WM)… urgh! When does it stop?
Airlines/Transports on 52-week lows: Airtran Holdings (NYSE: AAI)…again. Did they launch a Friends Die Free rewards plan? Continental Airlines (NYSE:CAL), Fedex (NYSE:FDX), Mesa Air (NASDAQ:MESA), Northwest Airlines (NYSE: NWA)… near $100 oil is a real pain.
Hotels Hitting 52-week lows: Host Hotels (NYSE: HST), Lasalle Hotel (NYSE: LHO), Starwood Hotels (NYSE:HOT), Sunstone Hotel (NYSE: SHO), Wydham Worldwide (NYSE:WYN). Maybe these all wish they could get the private equity buyers back in the sector. If only they could still borrow.
These CEO’s new year’s resolutions are all the same: "In 2008 I want to keep my stock off the 52-week low lists."
Jon C. Ogg
December 28, 2007
AKAM cut to Sell at Kaufman.
AUDC raised to Buy at Cantor Fitzgerald.
AVR cut to Underperform at FBR.
BPL raised to Buy at Deutsche Bank.
BGH cut to Hold at Deutsche Bank.
CKEC started as Overweight at JPMorgan.
CLC cut to Peer Perform at Bear Stearns.
CNK started as Overweight at JPMorgan.
FARO cut to Neutral at Baird.
GIS raised to Outperform at Credit Suisse.
GLUU started as Buy at Cantor Fitzgerald.
GLW started as Buy at Deutsche Bank.
IOM started as Buy at Cantor Fitzgerald.
JCOM cut to Mkt Perform at FBR.
KIM started as Outperform at Credit Suisse.
KYPH cut to Neutral at B of A.
LYV started as Overweight at JPMorgan.
NAPS started as Buy at Cantor Fitzgerald.
OMTR cut to Mkt Perform at JMP Securities.
PEIX cut to Underperform at FBR.
RGC started as Neutral at JPMorgan.
SHOR started as Overweight at JPMorgan.
VSE cut to Mkt Perform at FBR.
WYNN cut to Hold at Jefferies.
Jon C. Ogg
September 20, 2007
AMC Entertainment Holdings, Inc. has filed to come public in an IPO under the NYSE ticker "AC." This filing lists up to $500 million as the amount of securities being sold for filing purposes.
AMC Entertainment posted for the 52 weeks ended June 28, 2007, on a pro forma basis, revenues of $2.4 Billion, Adjusted EBITDA of $425.6 million, a loss from continuing operations of $60.3 million. On a historical basis it had net cash provided by operating activities of $394.7 million. In the United States and Canada, as of June 28, 2007, it operated 311 theaters with 4,597 screens. As of June 28, 2007, it had 66 theaters with 703 screens consisted principally of wholly-owned theaters in Mexico and an unconsolidated joint venture in South America.
It also currently owns approximately 18.6% of National CineMedia, LLC; and it currently own approximately 27% of MovieTickets.com, an Internet ticketing venture representing over 10,000 screens. One thing investors need to know is that the movie theater operation in the U.S. has been one of the most frequently changed in owners, and AMC recently became under Merger Sub in June of 2007. AMC is also reclassifying its stock classes and it is currently held by J.P.Morgan Partners, Apollo Investment Funds, Bain Capital, Carlyle Group, Spectrum Equity Investors, and management.
Other publicly traded movie theater chains are Regal Entertainment Group (NYSE:RGC), Cinemark Holdings Inc. (NYSE:CNK), and Carmike Cinemas Inc. (NASDAQ:CKEC). There is also of course the offshoot National Cinemedia (NASDAQ:NCMI), which AMC has had an ownership in the parent holding company of.
Jon C. Ogg
September 13, 2007
Jon Ogg can be reached at jonogg@247wallst.com; he produces the 24/7 Wall St. Special Situation Investing Newsletter and he does not own securities in the companies he covers.
Not all of these are low closes but these hit new 52-week lows if not……
Candela (CLZR) keeps hitting the list….
Carmike Cinema’s (CKEC)…if movies hit $4 Billion and they can’t make money then they better jack up thge popcorn prices…..
Chico’s F A S (CHS) put in a new 52-week low intraday, although this sub-$17.00 marks a low if it closes here.
Delta Petroleum (DPTR) may not be a 52-week low close but that was intraday.
Eagle Test Systems Inc. (EGLT) is on that seems to keep hitting the list of late.
Franklin Electric Co., Inc., (FELE)…groundwater and fuel pumping systems… isn’t that supposed to be a hot area???
St. Joe Co. (JOE)…. would you expect anything else from a company that builds small communities and transplant-a-marsh to a town player in this housing and loan environment???
Kellwood (KWD) isn’t selling enough men’s and women’s sportwear?
Neurocham (NRMX)… today’s biotech implosion
Restoration Hardware Inc. (RSTO)… needs to restore itself maybe. Too bad, because it’s a neat shop. If houses aren’t selling and if money gets tight, this one can easily be avoided.
Jon C. Ogg
August 27, 2007
Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.
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