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In this article, we will take a closer look at: Hedge funds and insiders are buying these 10 stocks.. Check out our article for an overview of these stocks. Hedge funds and insiders are buying this. Five stock.
Stocks are rising on indications that the Federal Reserve is still considering three interest rate cuts this year. Although many analysts have expressed skepticism about the Fed’s claims, investors appear to be continuing to look beyond the rate cut debate. Market analysts believe that despite valuation concerns, the AI-driven rally could push stocks further higher. Wells Fargo analysts said in new commentary that S&P 500 valuations are “stretched” by “most measures.” However, the stock could still rise as the company’s earnings and sales growth remain at “acceptable” levels, they said. Wells Fargo analysts also drew a contrast between the tech bubble of March 2000 and today’s market rally, saying that because of the underlying strengths of companies, today’s market conditions are similar to past tech bubbles. No, he added. But Wells Fargo analysts are urging investors to reduce their exposure to sectors they believe are overvalued, such as IT, communications services and consumer discretionary, and instead invest in sectors such as energy, industrials and health care. He recommended investing in undervalued stocks in the sector.
UBS still hoping for a soft landing
UBS also said in its report after the Federal Reserve’s latest decision that it continues to believe the U.S. economy remains on a healthy trajectory, with three interest rate cuts scheduled from June this year. Ta. UBS said it still believes a soft landing scenario “makes sense” due to “moderate” growth, falling inflation and expected rate cuts. Against this backdrop, UBS said it continues to recommend investors buy blue-chip stocks and bonds.
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Which blue chip stocks are in demand right now? In this article, we decided to see which stocks are being piled on by company insiders and hedge funds. To do so, we first used Insider Monkey’s Insider Traded Stock Screener to identify stocks with high insider buying activity over the past few weeks. From these stocks, we selected the 10 stocks with the highest number of hedge fund investors. Topping the list are Humana Inc. (NYSE:HUM), Snowflake Inc. (NYSE:SNOW), and Caesars Entertainment Inc. (NASDAQ:CZR). But why is it important to monitor hedge fund and insider activity? The top 10 consensus stocks chosen by hedge funds have outperformed the S&P 500 index by more than 140 percentage points over the past 10 years (Please see here for the detail).
10. Devon Energy Corporation (NYSE:DVN)
Number of hedge fund investors: 50
Devon Energy Corporation (NYSE:DVN) ranks #10 on the list of stocks watched by hedge funds and company insiders. Devon Energy Corporation (NYSE:DVN) CEO Rick Mancrief on March 4th added 15,000 shares of Devon Energy Corporation (NYSE:DVN) stock at a price of $44.42 per share. Since then, the stock price has increased 9%.
At the end of Q4 2023, 50 hedge funds out of 933 funds tracked by Insider Monkey held shares in Devon Energy Corporation (NYSE:DVN).
9. Blackstone Corporation (NYSE:BX)
Number of hedge fund investors: 51
Reginald J. Brown is a director of Blackstone Inc. (NYSE:BX). On February 21st, Brown purchased 2,400 shares of Blackstone Corporation (NYSE:BX) at a price of $125.63 per share. Since then, the stock price has increased by just 1.24%.
Morgan Stanley recently released a list of stocks it believes will thrive as U.S. productivity increases on the back of the AI wave. Blackstone Corporation (NYSE:BX) was named to the list.
51 hedge funds out of 933 hedge funds in Insider Monkey’s database hold shares in Blackstone Inc. (NYSE:BX). The largest stake in Blackstone (NYSE:BX) is held by Stephen Mandel’s Lone Pine Capital, which owns $290 million in Blackstone (NYSE:BX) stock.
Barron Real Estate Fund said the following about Blackstone, Inc. (NYSE:BX) in its Q4 2023 investor letter:
“We remain optimistic about our long-term outlook. Blackstone Co., Ltd. (NYSE:BX) and Brookfield because we believe both companies have strong potential to expand market share in the long-term growth opportunity in alternative assets.
Institutional investor allocations to alternative investment assets such as real estate, infrastructure, and private equity are likely to continue to increase significantly in the coming years. This is because alternative investments have a long track record of producing attractive relative and absolute returns with lower volatility than some other investment options.
We are bullish on Blackstone and Brookfield’s long-term prospects. Both companies are led by outstanding management teams that attract and retain top talent. Both companies are the world’s largest real estate management companies with impressive investment track records. Blackstone and Brookfield both have global franchises, strong brands, and loyal customers.
We believe the stocks of both companies are attractively valued and are optimistic about the long-term potential of the Fund’s investments in both companies. ”
8. Biogen (NASDAQ:BIIB)
Number of hedge fund investors: 51
Biogen Inc. (NASDAQ:BIIB) ranks #8 on the list of stocks with recent insider purchases and is also popular among hedge funds. On February 15th, Eric K. Rowinski, a director on the board of directors of Biogen, Inc. (NASDAQ:BIIB), accumulated 455 shares of Biogen, Inc. (NASDAQ:BIIB) at a price of $222.54 per share. . The stock price has fallen about 2.35% since then.
Of the 933 funds tracked by Insider Monkey, 51 hedge funds hold shares in Biogen Inc. (NASDAQ:BIIB). The largest stakeholder in Biogen, Inc. (NASDAQ: BIIB) is Samuel Isaly’s OrbiMed Advisors, which owns $214 million in Biogen, Inc. (NASDAQ: BIIB) stock.
In addition to BIIB, we’re also seeing insider buying activity in stocks such as Humana Inc. (NYSE:HUM), Snowflake Inc. (NYSE:SNOW), and Caesars Entertainment Inc. (NASDAQ:CZR).
Last month, the company spoke about its outlook for 2024 at its financial results conference.
“Consistent with previous years, we expect the first quarter to be seasonally weaker than the fourth quarter for our U.S. MS business, driven by higher discounts and benefits and We also expect contract manufacturing revenues, driven by the completion of certain batch commitments in 2023 as part of the 2020 sale of Hillerod in Denmark. Part cause. Our company had manufacturing operations there. And these batch commitments, which contributed approximately $320 million in 2023, will not recur in 2024.
Increased revenue from new product launches and lower contract manufacturing revenue, as well as lower idle equipment usage fees, are expected to have a positive impact on cost of goods sold as a percentage of revenue in 2024. We also believe that we can expand operating income. Compared to 2023, sales are in his low double digits and operating margins are in his mid single digits. We expect this to be driven by an improvement in cost of goods sold as a percentage of revenue and an expected decrease in operating expenses. This is the result of our ‘Fit for Growth’ initiative. “Fit for Growth” continues to project total savings of approximately $1 billion by 2025, with savings excluding reinvestment of $800 million. We expect to achieve approximately $200 million in savings in 2023 and another $200 million in 2024. This will deliver half of the total net savings, or $400 million, by the end of this year, with the remainder remaining in 2025.
In 2024, we expect 50% of our SG&A expenses to be in LEQEMBI, which is not included in our growth fit assumption and will be largely offset by the reallocation of resources to ADUHELM . Taking all of this into account, we expect our full-year 2024 R&D and SG&A expenses to total approximately $4.3 billion. We expect our other income and expenses to continue to be headwinds this year given the decrease in interest income and increase in interest expense from the Riata acquisition. Therefore, in 2024, we expect an improved revenue profile, improved margins, and a return to non-GAAP EPS growth. Our overarching goal remains a return to sustainable growth, and we remain committed to achieving this goal and creating long-term value for our shareholders. ”
Please read the full transcript of the financial results conference here.
7. American International Group (NYSE:AIG)
Number of hedge fund investors: 51
American International Group (NYSE:AIG) is one of the interesting stocks that is being bought by both hedge funds and company insiders. On March 14, John Inglis, a director on the board of directors of American International Group (NYSE:AIG), purchased 659 shares of American International Group (NYSE:AIG) at a price of $75.39 per share. . Since then, through March 21, the stock price has increased about 1.1%.
51 hedge funds out of 933 funds in Insider Monkey’s database hold shares in American International Group (NYSE:AIG). The largest hedge fund shareholder in American International Group (NYSE:AIG) during this period was Harris Associates of Natixis Global Asset Management, which owns $1.5 billion in American International Group (NYSE:AIG) stock. Met.
In addition to AIG, hedge funds have also acquired Humana Inc. (NYSE:HUM), Snowflake Inc. (NYSE:SNOW), and Caesars Entertainment Inc. (NASDAQ:CZR).
Diamond Hill Large Cap Strategy has this to say about American International Group (NYSE:AIG) in its Q4 2023 Investor Letter:
“Other top contributors in the fourth quarter included All-State; American International Group Co., Ltd. (NYSE:AIG) and Target. Insurer AIG has similarly benefited from improved underwriting margins, while continuing to sell its stake in life insurer CoreBridge and reallocate the proceeds to buy back shares at attractive prices. ing. ”
6. Willscot Mobile Mini Holdings (NASDAQ:WSC)
Number of hedge fund investors: 53
Wilscot Mobile Mini Holdings (NASDAQ:WSC), a provider of workspace and storage solutions, ranks #6 on the list of stocks that hedge funds and insiders are buying. Will Scott Mobile Mini Holdings (NASDAQ:WSC) CEO Bradley L. Soultz announced on March 4th that he sold 5,000 shares of Will Scott Mobile Mini Holdings (NASDAQ:WSC) at a price of 47.76 per share. I bought it for dollars. Since then, the stock price has fallen about 1.8%.
53 hedge funds tracked by Insider Monkey held shares in Wilscot Mobile Mini Holdings Corporation (NASDAQ:WSC) at the end of the fourth quarter of 2023. The most notable stock in WillScot Mobile Mini Holdings Corp (NASDAQ:WSC) is owned by Leon Cooperman’s Omega Advisors, which owns $133 million in WillScot Mobile Mini Holdings Corp (NASDAQ:WSC) stock. Masu.
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Disclosure. none. Hedge funds and insiders are buying these 10 stocks. Originally published on Insider Monkey.
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