5 Best Cheap Stocks To Buy For Long Term

In this piece, we will take a look at the five best cheap stocks to buy now for the long term. If you want to learn more about value stocks, then read 11 Best Cheap Stocks To Buy For Long Term.

5. New York Community Bancorp, Inc. (NYSE:NYCB)

Latest Price To Earnings Ratio: 6.92

Number of Hedge Fund Investors In Q3 2023: 35

New York Community Bancorp, Inc. (NYSE:NYCB) is a regional bank headquartered in Hicksville, New York. After a regional banking crisis in March created troubles for the sector, New York Community Bancorp, Inc. (NYSE:NYCB) is also currently dealing with a lot of bad loans in the commercial and office real estate space.

35 out of the 910 hedge funds polled by Insider Monkey during Q3 2023 had invested in New York Community Bancorp, Inc. (NYSE:NYCB). Out of these, the largest investor was Irving Kahn’s Kahn Brothers through its $71.3 million stake.

4. Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Latest Price To Earnings Ratio: 3.71

Number of Hedge Fund Investors In Q3 2023: 36

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) is Brazil’s state-owned oil and gas producer. 2024 is an important year for the company and the broader environment as a Brazilian agency is set to decide whether Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) can drill for oil near the Amazon River.

By the end of 2023’s third quarter, 36 out of the 910 hedge funds part of Insider Monkey’s database were the firm’s shareholders. Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)’s biggest hedge fund shareholder is Rajiv Jain’s GQG Partners as it owns $3.1 billion worth of shares.

3. Hertz Global Holdings, Inc. (NASDAQ:HTZ)

Latest Price To Earnings Ratio: 4.84

Number of Hedge Fund Investors In Q3 2023: 42

Hertz Global Holdings, Inc. (NASDAQ:HTZ) is an American car rental company with operations all over the world. The firm’s third quarter financials provided a troubling set of results as a price slash by Tesla, Inc. (NASDAQ:TSLA) led to its fleet devaluation.

During this year’s September quarter, 42 out of the 910 hedge funds profiled by Insider Monkey had bought and owned Hertz Global Holdings, Inc. (NASDAQ:HTZ)’s shares. Out of these, the largest investor is Tom Wagner and Ara Cohen’s Knighthead Capital due to its $2.2 billion stake.

2. Southwestern Energy Company (NYSE:SWN)

Latest Price To Earnings Ratio: 6.34

Number of Hedge Fund Investors In Q3 2023: 44

Southwestern Energy Company (NYSE:SWN) is a Texas-based oil and gas exploration and production company. A slowdown in the natural gas industry was evident during its third quarter earnings, which saw net income drop substantially to $45 million from the year ago quarter’s $450 million.

For their third quarter of 2023 shareholdings, 44 out of the 910 hedge funds in Insider Monkey’s database were the firm’s investors. Southwestern Energy Company (NYSE:SWN)’s biggest shareholder in our database is D. E. Shaw’s D E Shaw as it owns $185 million worth of shares.

1. First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Latest Price To Earnings Ratio: 7.75

Number of Hedge Fund Investors In Q3 2023: 46

First Citizens BancShares, Inc. (NASDAQ:FCNCA) is a regional bank headquartered in Raleigh, North Carolina. The bank has had a busy November, as it has been arranging financing and credit for firms in the healthcare, energy, and healthcare industries.

As of Q3 2023 end, 46 out of the 910 hedge funds tracked by Insider Monkey had held a stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA). Natixis Global Asset Management’s Harris Associates is the largest shareholder among these due to its $681 million stake.

Disclosure: None. You can also take a look at Citadel Stock Holdings: 12 Biggest Energy Stocks and 23 Richest Countries in Asia by GDP Per Capita in 2023.

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