5 Best Extremely Profitable Stocks to Buy

In this piece, we will take a look at five best extremely profitable stocks to buy. If you want to take a look at our market analysis and more stocks, head on to 12 Best Extremely Profitable Stocks to Buy.

5. First Industrial Realty Trust, Inc. (NYSE:FR)

Number of Hedge Fund Investors in Q1 2023: 22

First Industrial Realty Trust, Inc. (NYSE:FR) is a real estate investment trust that focuses on developing and managing industrial properties. The firm’s shares are rated Buy on average, with four of eight analysts having Buy or Strong Buy ratings.

By the end of this year’s first quarter, 22 out of the 943 hedge funds part of Insider Monkey’s database had taken a stake in First Industrial Realty Trust, Inc. (NYSE:FR). Dmitry Balyasny’s Balyasny Asset Management is the biggest investor with a $101 million investment.

4. Equity Commonwealth (NYSE:EQC)

Number of Hedge Fund Investors in Q1 2023: 23

Equity Commonwealth (NYSE:EQC) is an office real estate investment trust with more than a million square feet of property. The firm announced in June 2023 that it has authorized a $150 million share repurchase program.

As of March 2023, 23 of the 943 hedge funds profiled by Insider Monkey had bought the firm’s shares. Equity Commonwealth (NYSE:EQC)’s largest hedge fund investor among these is John W. Rogers’s Ariel Investments through a $138 million stake.

3. Immersion Corporation (NASDAQ:IMMR)

Number of Hedge Fund Investors in Q1 2023: 25

Immersion Corporation (NASDAQ:IMMR) is a software company that develops products for tactile feedback. Out of six analyst notes released about its shares, four rate them as Buy.

After sifting through 943 hedge funds for their March quarter of 2023 shareholdings, Insider Monkey found out that 25 had invested in the firm. Out of these, Israel Englander’s Millennium Management is the biggest investor through a $11.2 million investment.

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

Number of Hedge Fund Investors in Q1 2023: 28

New York Community Bancorp, Inc. (NYSE:NYCB) is a regional bank headquartered in Hicksville, New York. It is one of the older firms on our list, set up in 1859. The bank has been on an acquisitional spree this year, having acquired a whopping $38 billion of assets in March alone. At the same time, it also had to assume $36 billion in liabilities.

Insider Monkey’s first quarter of 2023 survey of 943 hedge funds revealed that 28 had bought New York Community Bancorp, Inc. (NYSE:NYCB)’s shares. The bank’s largest investor in our database is Ken Griffin’s Citadel Investment Group with a stake worth $98 million.

1. MGIC Investment Corporation (NYSE:MTG)

Number of Hedge Fund Investors in Q1 2023: 29

MGIC Investment Corporation (NYSE:MTG) is an insurance company with operations focused primarily in the U.S. It provides different kinds of mortgage insurance to loan and other financial providers. Out of 12 analysts covering the stock, ten have rated it Buy or better.

As of March 2023, 29 of the 943 hedge funds polled by Insider Monkey had owned a stake in the firm. MGIC Investment Corporation (NYSE:MTG)’s biggest shareholder is Steven Tananbaum’s GoldenTree Asset Management with a $50 million stake.

Disclosure: None. You can also take a look at 10 Dirt Cheap Stocks To Buy and 11 Most Undervalued Foreign Stocks To Buy.

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