5 Best Affordable Stocks Under $30

In this article, we discuss 5 best affordable stocks under $30. If you want to read our detailed discussion about the stock market performance, head directly to 12 Best Affordable Stocks Under $30. 

5. Coupang, Inc. (NYSE:CPNG)

Number of Hedge Fund Holders: 47

Share Price as of August 18: $18.50

Coupang, Inc. (NYSE:CPNG) operates the largest e-commerce platform in South Korea. It operates through two major segments – Product Commerce and Developing Offerings. It offers consumer goods of multiple categories, along with fresh groceries, restaurant deliveries, and streaming services through different brands. On August 8, Coupang, Inc. (NYSE:CPNG) announced a Q2 GAAP EPS of $0.08 and a revenue of $5.8 billion, outperforming Wall Street estimates by $0.03 and $140 million, respectively. It is one of the top affordable stocks to invest in.

According to Insider Monkey’s second quarter database, a total of 47 hedge funds were bullish on Coupang, Inc. (NYSE:CPNG). This remained unchanged from the previous quarter. Lee Ainslie’s Maverick Capital is the biggest shareholder in the company, with 79.5 million shares worth $1.38 billion. 

This is what Baron Funds specifically said about Coupang, Inc. (NYSE:CPNG) in its Q3 2022 investor letter:

“Coupang, Inc. (NYSE:CPNG), the largest e-commerce platform in South Korea, contributed after reporting a sizable beat on second quarter earnings and raising annual EBITDA guidance. Upside was concentrated in e-commerce, where Coupang is now driving sequential margin expansion while maintaining a growth rate that is triple that of the industry average, lending credence to the investment case that Coupang will consolidate the fragmented e-commerce industry in Korea across both general merchandise and grocery, with healthy long-term margins to follow.”

4. PG&E Corporation (NYSE:PCG)

Number of Hedge Fund Holders: 51

Share Price as of August 18: $16.97 

PG&E Corporation (NYSE:PCG) is one of the largest electric utility companies in the United States. It is engaged in the supply of electricity and natural gas to consumers. It operates plants using nuclear, photovoltaic, hydro-electric, and fuel cell sources. On July 27, PG&E Corporation (NYSE:PCG) announced a Q2 revenue of $5.29 billion and a non-GAAP EPS of $0.23, falling short of the market consensus by $200 million and $0.03, respectively. However, based on hedge fund sentiment, PG&E Corporation (NYSE:PCG) remains one of the best affordable stocks to buy. 

According to Insider Monkey’s second quarter database, a total of 51 hedge funds were bullish on PG&E Corporation (NYSE:PCG). In comparison, 52 hedge funds had invested in the company during the last quarter. Dan Loeb’s Third Point held the largest stake in PG&E Corporation (NYSE:PCG), with 54 million shares worth $933.1 million. 

Third Point Management said this about PG&E Corporation (NYSE:PCG) in its Q1 2023 investor letter:

“Our strategy is to preserve liquidity and buying power to take advantage of markets when they “break”. While overall indices remain elevated, we are finding more chances to provide liquidity across all three asset classes in which we invest – credit, structured credit, and equity – opportunities which have been key drivers of performance for the fund. Our portfolio is balanced across industries with a focus on event-driven names including companies involved in spin-offs, significant cost-cutting, or other types of under-appreciated business transformation. PG&E Corporation (NYSE:PCG), which is still our largest position, continues to deliver strong performance, down 50bps in the first quarter but up 6.2% for the year to date after the Fire Victims Trust sold another 60 million shares in a block trade.”

3. AT&T Inc. (NYSE:T)

Number of Hedge Fund Holders: 56

Share Price as of August 18: $14.10

AT&T Inc. (NYSE:T) is one of the largest American telecommunication giants with a worldwide presence. While It provides data, voice, and texting services, the company also provides networking gadgets. On July 26, AT&T Inc. (NYSE:T) announced a Q2 revenue of $29.92 billion and a non-GAAP EPS of $0.63. While the revenue was lower than the market estimates by $30 million, the EPS outperformed expectations by $0.03. AT&T Inc. (NYSE:T) is one of the best affordable stocks to monitor. 

According to Insider Monkey’s second quarter database, 56 hedge funds were bullish on AT&T Inc. (NYSE:T). In comparison, 58 hedge funds had invested in the company during the past quarter. D E Shaw had the largest position in the company, with 14.1 million shares worth $225.8 million. 

2. Pinterest, Inc. (NYSE:PINS)

Number of Hedge Fund Holders: 62

Share Price as of August 18: $26.21 

Pinterest, Inc. (NYSE:PINS) is a household name for providing a platform for visual discovery. The company operates a search engine that lets users to seek and share ideas, such as home decor, recipes, and product designing. On August 1, Pinterest, Inc. (NYSE:PINS) announced a Q2 revenue of $708.2 million and a GAAP loss per share of $0.05, beating Street estimates by $12.53 million and $0.05, respectively. 

According to Insider Monkey’s second quarter database, a total of 62 hedge funds were bullish on Pinterest, Inc. (NYSE:PINS). In comparison, 66 hedge funds were long Pinterest, Inc. (NYSE:PINS) during the last quarter. Paul Singer’s Elliott Management is the largest investor in the company, with 28 million shares worth $765.5 million.

TimesSquare U.S. Mid Cap Growth Strategy said this about Pinterest, Inc. (NYSE:PINS) in its Q4 2022 investor letter:

“Slightly countering that decline was the 4% gain for Pinterest, Inc. (NYSE:PINS), an image-based social media company. The company posted better-than-expected third quarter results and forward guidance was in line with Street estimates. Pinterest expects significant margin improvement after a relatively heavy investment cycle.”

1. Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Number of Hedge Fund Holders: 67

Share Price as of August 18: $13.19  

Warner Bros. Discovery, Inc. (NASDAQ:WBD) is a market leading entertainment company that operates under three major segments – Studios, Network, and DTC. On August 3, Warner Bros. Discovery, Inc. (NASDAQ:WBD) announced a Q2 revenue of $10.36 billion and a GAAP loss per share of $0.51, falling short of market consensus by $80 million and $0.10, respectively. However, based on investor sentiment, Warner Bros. Discovery, Inc. (NASDAQ:WBD) remains one of the best affordable stocks.

According to Insider Monkey’s second quarter database, 67 hedge funds were bullish on Warner Bros. Discovery, Inc. (NASDAQ:WBD), compared to 63 in the previous quarter. 

Smead Value Fund had this to say about Warner Bros. Discovery, Inc. (NASDAQ:WBD) in its first quarter 2023 investor letter:

“Our best-performing stocks in the quarter were Warner Bros. Discovery, Inc. (NASDAQ:WBD), NVR (NVR) and Lennar (LEN). Warner was our worst performer in Q4 2022 and bounced back from tax selling. The home builders fooled everyone by growing their market share and making good money in the violent Fed tightening of 2022-2023.”

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