18 Best 52-Week Low Stocks to Buy Now According to Short Sellers

7. Comcast Corporation (NASDAQ:CMCSA)

52 Week Range: $36.43 – $47.30

Current Share Price: $40.24

Number of Hedge Fund Holders: 61

Short interest rate: 1.44%

Comcast Corporation (NASDAQ:CMCSA) is a communication services company that operates as a media and technology company offering residential broadband and wireless connectivity services. Its Business Services Connectivity segment offers broadband wireline voice and wireless services.

CMCSA’s lackluster performance compared to wider market benchmarks over the last year can be linked to its reduced customer acquisition rate in the initial three months. The firm experienced a customer loss of 65,000 during this period. However, the company surpassed Wall Street’s expectations for both revenue and earnings per share (EPS) in its quarterly report on April 25.

Comcast Corporation (NASDAQ:CMCSA) brought in $30.06 billion in revenues during the first three months, surpassing the $29.87 billion market forecasts. It also delivered $3.86 billion in net profit, or a profit per share (EPS) of 97 cents, which was higher than the market’s predictions of $3.63 billion and 91 cents per share, respectively.

It also saw strong growth in its mobile service segment, with an increase of 289,000 wireless subscriptions in the period. However, there was a decline of 487,000 in its cable and broadband customer base and 65,000 in its broadband customers. This drop in broadband subscribers has been a recurring problem for the entertainment and media conglomerate in the past few quarters.

Comcast Corporation (NASDAQ:CMCSA) stands out as one of the best 52-week low stocks to buy now, according to short sellers, as it has increased its dividend by 6.9% to $1.24 a share. The board has also approved a $15 billion stock buyback program affirming its dedication to returning value to shareholders.  The stock appears to be trading at a discount close to its 52-week low with a forward price-to-earnings multiple of 9 while offering a 3.11% dividend yield. The percentage of shares short as of the end of July stood at 1.44%

As per Insider Monkey’s database, 61 hedge funds owned stakes in Comcast Corporation (NASDAQ:CMCSA) at the end of June, down from 63 in the previous quarter. Among these hedge funds, First Eagle Investment Management was the company’s leading stakeholder in Q2, with stakes worth $1.25 billion.