5 Best Single Digit Stocks to Buy Now

1. ADT Inc. (NYSE:ADT)

Number of Hedge Fund Holders: 23    

Share Price as of October 21: $8.55 

ADT Inc. (NYSE:ADT) provides security, automation, and smart home solutions to consumer and business customers in the United States. It is one of the prominent single digit stocks to invest in. On August 30, Uber stated that it has partnered with ADT Inc to introduce a new option of safety to its app section. This integration will help the users in the United States to get live help, via text or phone, from ADT professional monitoring agents.  

At the end of the second quarter of 2022, 23 hedge funds in the database of Insider Monkey held stakes worth $214 million in ADT Inc. (NYSE:ADT), compared to 21 in the previous quarter worth $288.6 million.

In its Q2 2021 investor letter, Ariel Investments, an asset management firm, highlighted a few stocks and ADT Inc. (NYSE:ADT) was one of them. Here is what the fund said:

“During the quarter, we initiated a position in ADT Inc. (NYSE:ADT) in Ariel Fund and Ariel Appreciation Fund. Buying the same position across both strategies is rare but shows our enthusiasm for the name. Here, we have a 140-year old company that has been in and out of public ownership and as a result, everyone has looked right past it. In our view, ADT’s brand and national presence in the security industry is unmatched, resulting in leading market share, a high recurring revenue base and attractive free cash flow generation. While some are concerned do-it-yourself competition will erode the installation and technology-driven moat around the business, we believe the company is well-positioned to benefit from the secular growth of smart home adoption along with strategic partnerships with companies including Google.”

You can also take a peek at 10 Best Guru Stocks To Buy Now and Top 10 Health Insurance Stocks to Buy.

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