5 Best Multibagger Stocks To Buy Now

3. Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN)

12-Month Returns as of January 3: 293.28%

Number of Hedge Fund Holders: 10

Another top multibagger stock to purchase is Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN), providing a return of 293.28% in 2021. Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) is headquartered in South Africa, providing freight logistics and shipping services. 

Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) reported its third quarter results on November 17, posting earnings per share of $2.28, exceeding estimates by $0.19. Revenue over the period came in at $135.14 million, outperforming estimates by $19.06 million.

Jefferies analyst Randy Giveans on October 28 initiated coverage of Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) with a Buy rating and a $20 price target. The analyst sees an attractive outlook for dry bulk shipping and says the company has “a fortress balance sheet”. 

According to Insider Monkey’s Q3 records, 10 hedge funds reported owning stakes in Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN), up from only 2 funds in the preceding quarter.