5 Best Bargain Stocks To Buy in March

2. Hibbett, Inc. (NASDAQ:HIBB)

Number of Hedge Fund Holders: 25

Hibbett, Inc. (NASDAQ:HIBB) was founded in 1945 and is headquartered in Birmingham, Alabama. The company offers athletic footwear, athletic and fashion apparel, sports equipment, and related accessories. Hibbett, Inc. (NASDAQ:HIBB)’s Q4 comparable sales increased 15.5% compared to the prior-year quarter, and climbed 39.6% versus the same period pre-pandemic. It is one of the best cheap stocks to invest in. 

On November 29, Justin Kleber, an analyst at Baird, increased the target price of Hibbett, Inc. (NASDAQ:HIBB) from $70 to $75 and maintained an Outperform rating on the shares. Despite Hibbett, Inc. (NASDAQ:HIBB)’s Q4 results falling below Wall Street’s expectations, the analyst commented that the sales of footwear were strong, and the pressure on apparel clearance is expected to ease in the next quarter. Additionally, Kleber believes that the recent decline in the company’s stock price is unwarranted and sees a positive risk/reward ratio.

According to Insider Monkey’s Q4 data, 25 hedge funds were bullish on Hibbett, Inc. (NASDAQ:HIBB), compared to 21 funds in the prior quarter. Paul Marshall and Ian Wace’s Marshall Wace LLP is the largest stakeholder of the company, with 320,580 shares worth $21.8 million. 

Here is what Roubaix Capital has to say about Hibbett, Inc. (NASDAQ:HIBB) in their Q4 2020 investor letter:

“The second best short in the quarter was Hibbett Sports (HIBB), a sporting goods retailer. Many businesses were able to benefit from the spending shifts caused by the pandemic. For example, online retailers, companies that sell into the home improvement markets and grocery stores all saw varying degrees of improvement. We did not see HIBB as a clear beneficiary as they have historically underinvested in their online business. However, they managed to post very strong results during their third quarter from leisure spending trends and the stock reacted favorably. We shorted the strength of this rally and continue to hold our position as we do not see HIBB as a longer-term winner in its markets.”