Chartwell Investment Partners, LLC, an affiliate of Carillon Tower Advisers, Inc., released the “Carillon Chartwell Small Cap Value Fund” second quarter 2024 investor letter. A copy of the fund can be downloaded here. Significant interest rate volatility in the second quarter was caused by conflicting economic data and mixed inflation readings. As investors became less confident in the broader economy, the artificial intelligence (AI) boom persisted, and leadership in the equities markets kept decreasing. The Russell 1000® Growth Index, which tracks large-cap growth firms, increased by more than 8% while all other market sectors saw declines, creating an exceptionally sharp return gap. The Russell 2000® Value Index fell by about 4%, with small-cap value companies being the weakest. 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 second 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 6.78%, and its shares gained 69.09% of their value over the last 52 weeks. On September 4, 2024, Cinemark Holdings, Inc. (NYSE:CNK) stock closed at $27.73 per share with a market capitalization of $3.394 billion.
Carillon Chartwell Small Cap Value Fund stated the following regarding Cinemark Holdings, Inc. (NYSE:CNK) in its Q2 2024 investor letter:
“Cinemark Holdings, Inc. (NYSE:CNK) operates movie theaters across North and South America. Recent results exceeded expectations as film box office numbers were strong, driving revenue and profits. 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, 32 hedge fund portfolios held Cinemark Holdings, Inc. (NYSE:CNK) at the end of the second quarter which was 35 in the previous quarter. In the second quarter, Cinemark Holdings, Inc. (NYSE:CNK) reported $734.2 millions of total revenues and $142.1 millions of adjusted EBITDA. 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 addition, please check out our hedge fund investor letters Q2 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.
