5 Best Cheap Stocks To Buy For 2024

3. General Motors Company (NYSE:GM)

Number of Hedge Fund Holders: 83

Forward P/E Ratio as of April 20: 4.66

General Motors Company (NYSE:GM) operates as a leading designer, manufacturer, and seller of automobiles and automotive parts. Its diverse portfolio includes vehicles marketed under several renowned brands such as Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling.

On April 2, General Motors Company (NYSE:GM) released its Q1 sales report, revealing the delivery of 594,233 vehicles in the U.S. during the quarter, accompanied by a noteworthy 6% year-over-year increase in retail sales.

During the fourth quarter of 2023, hedge funds displayed positive sentiment towards General Motors Company (NYSE:GM), with 83 hedge funds maintaining positions in the company. The total value of their investments amounted to $3.929 billion, marking a substantial rise compared to the previous quarter, where 66 funds held positions valued at $2.033 billion.