John Clark’s Southpoint Capital is Selling These 5 Stocks

4. Dolby Laboratories, Inc. (NYSE:DLB)

Total Number of Hedge Fund Holders: 33

Dolby Laboratories, Inc. (NYSE: DLB) deals in the production of audio and imaging equipment for the cinema, TV and broadcast industries.

The company posted an EPS of $0.58 for the third quarter, which beat consensus estimates by $0.02. Revenue for the quarter was $285.02 million, which fell below analysts’ forecasts by $14.93 million.

Out of 867 elite hedge funds tracked by Insider Monkey, 33 hedge funds held positions worth $521.15 million in Dolby Laboratories, Inc. (NYSE: DLB), as reported by the end of September. In the previous quarter, 31 hedge funds held positions worth $748.48 million in the company.