5 Best One Dollar Stocks to Buy According To Hedge Funds

Page 5 of 5

1. Cazoo Group Ltd (NYSE:CZOO)

Number of Hedge Fund Holders: 27

Share Price as of January 26: $0.2059

Cazoo Group Ltd (NYSE:CZOO) is an online car retailer based in London, enabling individuals to buy, finance, and subscribe to a vehicle online and have it delivered or picked up. Cazoo Group Ltd (NYSE:CZOO)’s goals for 2023 include 40,000-50,000 units being sold at retail locations in the United Kingdom. It is also anticipated that sales at retail locations will increase during the FY24 and in subsequent years. Cazoo Group Ltd (NYSE:CZOO) is one of the best one dollar stocks to invest in according to hedge funds. 

On August 10, Berenberg analyst Saim Saeed double upgraded Cazoo Group Ltd (NYSE:CZOO) to Buy from Sell with a price target of $2.33, up from 49c. He noted that after the company reported its first half results, management announced a review of its European operations, which is expected to lead to a full exit. The analyst believes that this will help the company to better focus on its UK business, eliminate funding gaps, and ultimately create more value for shareholders. He believes that the stock currently does not reflect this change and sees this as an important positive development that is happening sooner than anticipated.

According to Insider Monkey’s data, 27 hedge funds were long Cazoo Group Ltd (NYSE:CZOO) at the end of Q3 2022, compared to 29 funds in the prior quarter. Bruce Emery’s Greenvale Capital is the largest position holder in the company, with 46.8 million shares worth $21.5 million. 

Follow Cazoo Group Ltd

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily enewsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also check out 11 Most Undervalued Foreign Stocks To Buy and 15 Most Undervalued NASDAQ Stocks.

Page 5 of 5