In this article, we will look at the 5 best stocks to buy that are trading for less than $10 a share. If you want to explore similar stocks, you can read 10 Best Stocks Under $10 To Buy Right Now.
5. Vacasa, Inc. (NASDAQ:VCSA)
Share Price as of October 21: $3.70
Number of Hedge Fund Holders: 13
Vacasa, Inc. (NASDAQ:VCSA) is a vacation rental management company. The company offers a full-service experience to rental homeowners and guests. The company’s services include listing rentals, cleaning and maintaining rentals, managing guest communications, and providing 24/7 guest support. Vacasa, Inc. (NASDAQ:VCSA) has a strong growth story, a unique business model, and a large addressable market.
Vacasa, Inc. (NASDAQ:VCSA) has been generating activity on Wall Street. The stock has an average 3-month trading volume of 3 million and on October 3, Deutsche Bank analyst Lee Horowitz took coverage of Vacasa, Inc. (NASDAQ:VCSA) with a Hold rating and a $3 price target.
At the end of Q2 2022, 13 hedge funds were eager on Vacasa, Inc. (NASDAQ:VCSA) and held stakes worth $222.5 million in the company. Of those, Silver Lake Partners was the largest investor in the company and held stakes worth $179.9 million.
4. Golden Ocean Group Limited (NASDAQ:GOGL)
Share Price as of October 21: $8.61
Number of Hedge Fund Holders: 14
Golden Ocean Group Limited (NASDAQ:GOGL) is a leading international dry bulk shipping company. The company owns and operates a modern fleet of dry bulk vessels and a diversified global customer base. The company’s vessels transport a wide range of dry bulk commodities including iron ore, coal, grain, and fertilizers. The company has a strong track record of financial and operational performance. Golden Ocean Group Limited (NASDAQ:GOGL) is well-positioned to capitalize on the continued growth in global demand for dry bulk commodities.
Golden Ocean Group Limited (NASDAQ:GOGL) is cash-rich, profitable, and efficient at making profits for shareholders. The company has a trailing twelve-month operating margin of 47%, an ROE of 36.82%, and free cash flows of $643 million. The company is committed to utilizing its cash efficiently and on October 4, Golden Ocean Group Limited (NASDAQ:GOGL) announced a share repurchase program of up to $100 million of the company’s common stock for a period of up to 12 months. As of September 26, Jefferies analyst Omar Nokta has a Hold rating and a $10 price target on Golden Ocean Group Limited (NASDAQ:GOGL).
At the close of Q2 2022, 14 hedge funds were long Golden Ocean Group Limited (NASDAQ:GOGL) and held stakes worth $62.3 million in the company. Of those, Renaissance Technologies was the most prominent shareholder and held stakes worth $30.8 million in the company.
3. Beazer Homes USA, Inc. (NYSE:BZH)
Share Price as of October 21: $9.95
Number of Hedge Fund Holders: 15
Beazer Homes USA, Inc. (NYSE:BZH) is one of the largest homebuilders in the United States and has a strong track record of delivering shareholder value. Beazer Homes USA, Inc. (NYSE:BZH) has a diversified portfolio of assets and a strong balance sheet. The company has a trailing twelve-month operating margin of 10% and an ROE of 23.8%. As of October 21, the stock is trading at a PE multiple of 1.64 at $9.95 a share.
Wall Street analysts are bullish on Beazer Homes USA, Inc. (NYSE:BZH). On October 18, B. Riley analyst Alex Rygiel revised his price target on Beazer Homes USA, Inc. (NYSE:BZH) to $15 from $19 and maintained a Buy rating on the shares.
At the close of Q2 2022, 15 hedge funds held stakes in Beazer Homes USA, Inc. (NYSE:BZH). The total value of these stakes amounted to $32.5 million, up from $28.2 million in the previous quarter with 14 positions. The hedge fund sentiment for the stock is positive.
As of June 30, Millennium Management is the most prominent investor in Beazer Homes USA, Inc. (NYSE:BZH) and has stakes worth $6.2 million in the company.
2. Crescent Point Energy Corp. (NYSE:CPG)
Share Price as of October 21: $7.52
Number of Hedge Fund Holders: 19
Crescent Point Energy Corp. (NYSE:CPG) is a leading oil and gas producer with a diversified portfolio of high-quality assets located in the Western Canadian Sedimentary Basin. The company’s strong financial position provides it with the flexibility to pursue its growth objectives and continue to pay a sustainable dividend. Crescent Point Energy Corp. (NYSE:CPG) has free cash flows of C$983 million and is offering a forward dividend yield of 2.23% to investors, as of October 21.
Wall Street is bullish on Crescent Point Energy Corp. (NYSE:CPG). On September 30, National Bank analyst Travis Wood revised his price target on Crescent Point Energy Corp. (NYSE:CPG) to C$18 from C$20 and reiterated an Outperform rating on the shares.
At the close of Q2 2022, 19 hedge funds were long Crescent Point Energy Corp. (NYSE:CPG) and held stakes worth $227.5 million in the company. Of those, D E Shaw was the largest investor in the company and had stakes worth $46.9 million.
1. Algoma Steel Group Inc. (NASDAQ:ASTL)
Share Price as of October 21: $6.99
Number of Hedge Fund Holders: 45
Algoma Steel Group Inc. (NASDAQ:ASTL) is a leading steel manufacturer based in Canada. The company operates through two segments: Steel and Iron Ore. The company has a strong market position and is well-positioned to benefit from the continued growth of the Canadian economy. Shares of Algoma Steel Group Inc. (NASDAQ:ASTL) have pulled back in 2022 and are offering investors the chance to buy into weakness. As of October 21, the stock is trading at a PE ratio of 1.05 and is offering a forward dividend yield of 2.86%. Algoma Steel Group Inc. (NASDAQ:ASTL) has free cash flows of C$ 1.19 billion and a trailing twelve-month operating margin of 37.58%.
This September, BMO Capital analyst David Gagliano revised his price target on Algoma Steel Group Inc. (NASDAQ:ASTL) to C$14 from C$16 and reiterated an Outperform rating on the shares. On October 20, Stifel analyst Ian Gillies adjusted his price target on Algoma Steel Group Inc. (NASDAQ:ASTL) to C$10.75 from C$11.25 and maintained a Hold rating on the shares.
At the end of Q2 2022, 45 hedge funds were long Algoma Steel Group Inc. (NASDAQ:ASTL) and held stakes worth $446 million in the company. Of those, Contrarian Capital was the largest shareholder and held stakes worth $74 million in the company.
You can also take a look at 10 Best Dividend Stocks on Robinhood and 11 Best Metal Stocks To Buy Now.
