Hedge Funds are Confident about These Entertainment Stocks and You Should Be Too

4. Cinemark Holdings Inc. (NYSE:CNK)

Investors with Long Positions (as of June 30): 19

Aggregate Value of Investors’ Holdings (as of June 30): $294.15 Million

Cinemark Holdings Inc. (NYSE:CNK) is not doing far better than the aforementioned industry peer, with its shares losing more than 8% since the beginning of the year. Two fewer hedge funds had positions in the stock at the end of the second quarter compared to the previous one, which represented 6.30% of Cinemark’s outstanding stock. Similarly, the value of the money invested in the entertainment company shrank by $57.84 million. Tim Warner stepped down as Cinemark’s Chief Executive Officer in August after having spent 50 years of his life in the movie industry. However, he will still be involved in the company’s activity as executive Vice Chairman of the board of directors. Phill Gross and Robert Atchinson’s Adage Capital Management is one of the top shareholders of Cinemark Holdings Inc. (NYSE:CNK) within our database, owning a 885,000 share-stake at the end of June.