Chartwell Investment Partners, LLC, an affiliate of Carillon Tower Advisers, Inc., released the “Carillon Chartwell Small Cap Value Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. The market leadership shifted abruptly in the third quarter. Small and mid-cap stocks outpaced large caps, while value outperformed growth. Over the past 18 months, growth stocks, especially large and mid caps, have outperformed due to investor interest in artificial intelligence (AI). The Russell 2000® Value Index increased by more than 10%, with positive returns in ten of eleven sectors. Information technology was among the index’s weakest sectors, trailing only energy. The top three sectors are communications services, real estate, and finance. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Carillon Chartwell Small Cap Value Fund highlighted stocks like Cinemark Holdings, Inc. (NYSE:CNK) in the third quarter 2024 investor letter. Cinemark Holdings, Inc. (NYSE:CNK) is a movie theater operating company. The one-month return of Cinemark Holdings, Inc. (NYSE:CNK) was 3.28%, and its shares gained 115.18% of their value over the last 52 weeks. On December 12, 2024, Cinemark Holdings, Inc. (NYSE:CNK) stock closed at $33.03 per share with a market capitalization of $4.042 billion.
Carillon Chartwell Small Cap Value Fund stated the following regarding Cinemark Holdings, Inc. (NYSE:CNK) in its Q3 2024 investor letter:
“Cinemark Holdings, Inc. (NYSE:CNK) operates movie theaters across North and South America. Recent results benefited from a better than expected summer box office performance. Investors also began to anticipate a stronger slate of movie releases in coming years.”
A ticket booth outside a theatre, directing customers to the films of the day.
Cinemark Holdings, Inc. (NYSE:CNK) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 37 hedge fund portfolios held Cinemark Holdings, Inc. (NYSE:CNK) at the end of the third quarter which was 32 in the previous quarter. Cinemark Holdings, Inc.’s (NYSE:CNK) worldwide revenue increased 5% year-over-year in the third quarter to $921.8 million. While we acknowledge the potential of Cinemark Holdings, Inc. (NYSE:CNK) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Cinemark Holdings, Inc. (NYSE:CNK) and shared Third Point Management’s views on the company. In addition, please check out our hedge fund investor letters Q3 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.