5 Best Meme Stocks to Invest In

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1. Academy Sports and Outdoors, Inc. (NASDAQ: ASO)

Number of Hedge Fund Holders: 45

Percentage gain in the past month: 27.77%

Topping the list of 12 best meme stocks to invest in is Academy Sports and Outdoors, Inc. (NASDAQ: ASO). The company is based in Texas and offers sporting goods and outdoor recreational products in the US.

On September 10, Loop Capital analyst Daniel Adam maintained a Buy rating on Academy Sports and Outdoors, Inc. (NASDAQ: ASO) and increased his price target to $58 per share from $45 previously, highlighting the company’s solid Q2 results fueled by consistently strong demand in the categories of fitness, footwear, apparel, and team sports. 

The company has a market cap of $4.1 billion. In the second quarter of 2021, Academy Sports and Outdoors, Inc. (NASDAQ: ASO) reported an EPS of $2.34, beating estimates by $0.92. The company’s revenue in the second quarter came in at $1.79 billion and beat estimates by $125.64 million. The stock has gained 121%, year to date.

At the end of the second quarter of 2021, 45 hedge funds in the database of Insider Monkey held stakes worth $709 million in Academy Sports and Outdoors, Inc. (NASDAQ: ASO), up from 37 in the previous quarter worth $409 million.

Out of the hedge funds being tracked by Insider Monkey, a New York-based hedge fund firm, Samlyn Capital is a leading shareholder in Academy Sports and Outdoors, Inc. (NASDAQ: ASO) with 2,759,933 shares worth more than $113 million.

You can also take a peek at Billionaire Jeffrey Talpins’ Top 5 Stocks Picks and Top 10 Stocks to Buy Today According to Stephen Perkins’ Toronado Partners.

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