In this piece, we will take a look at the five best stocks under $20 to invest in according to Jim Simons’ Renaissance Technologies. If you want to learn more about Mr. Simons and his fund’s trading strategies, then head on over to 10 Best Stocks Under $20 According to Jim Simons’ Renaissance Technologies.
5. Kinross Gold Corporation (NYSE:KGC)
Renaissance Technologies’ Stake Value: $145 million
Percentage of Renaissance Technologies’ 13F Portfolio: 0.18%
Number of Hedge Fund Holders: 31
Share Price as of December 12: $6.13
Kinross Gold Corporation (NYSE:KGC), as the name suggests, is a gold mining company headquartered in Toronto, Canada. The firm has gold mining properties in which it has invested, developed, and operates in the United States, Russia, Brazil, Chile, and other countries.
Renaissance Technologies owned 24 million Kinross Gold Corporation (NYSE:KGC) shares during Q4 2021. These were worth $145 million and represented 0.18% of its investment portfolio. During the same time period, 31 of the 924 hedge fund holdings analyzed by Insider Monkey contained the company’s stock.
Kinross Gold Corporation (NYSE:KGC) reported $879 million in revenue and $0.08 in non-GAAP EPS for its fourth fiscal quarter, beating analyst EPS estimates but missing them for revenue. Jefferies raised its price target to $6 from $5.5 in March 2022, stating that the sector as a whole is poised for strong growth.
Kinross Gold Corporation (NYSE:KGC)’s largest investor after Renaissance is Eric Sprott’s Sprott Asset Management which owns 8.2 million shares worth $47 million.
4. Mobile TeleSystems Public Joint Stock Company (NYSE:MBT)
Renaissance Technologies’ Stake Value: $168 million
Percentage of Renaissance Technologies’ 13F Portfolio: 0.2%
Number of Hedge Fund Holders: 10
Share Price as of December 12: $5.5
Mobile TeleSystems Public Joint Stock Company (NYSE:MBT) is a Russian telecommunications services provider that is headquartered in Moscow. It offers cellular services, internet access, TV coverage, broadband, and banking services alongside others.
Mobile TeleSystems Public Joint Stock Company (NYSE:MBT) raked in RUB534 billion in revenue and RUB63.5 billion in net profit for its fiscal year 2021 which marked 8% revenue growth. During the earnings call, its CEO highlighted the strong execution of the company’s financial technology platform.
By the end of the fourth quarter of last year, Dr. Simons’ hedge fund had a $168 million stake in Mobile TeleSystems Public Joint Stock Company (NYSE:MBT). This came in the form of 21 million shares and it represented 0.2% of the firm’s investment portfolio. Insider Monkey scanned 924 hedge fund holdings for Q4 2021 and learned that 10 had invested in the firm.
Israel Englander’s Millennium Management is a large Mobile TeleSystems Public Joint Stock Company (NYSE:MBT) through a $22 million stake that comes via 2.7 million shares.
3. Palantir Technologies Inc. (NYSE:PLTR)
Renaissance Technologies’ Stake Value: $266 million
Percentage of Renaissance Technologies’ 13F Portfolio: 0.33%
Number of Hedge Fund Holders: 33
Share Price as of December 12: $12.46
Palantir Technologies Inc. (NYSE:PLTR) is a software platform provider for the American intelligence community. Its products allow the agencies to identify patterns from a wide variety of intelligence sources such as informant reports, signals intelligence, and datasets.
Renaissance Technologies had a $266 million stake in Palantir Technologies Inc. (NYSE:PLTR) during Q4 2021, via owning 14.6 million shares. Insider Monkey’s survey of 924 hedge funds during the same time period revealed that 33 had invested in the software company.
For its fiscal Q4, Palantir Technologies Inc. (NYSE:PLTR) reported $432 million in revenue and $0.02 in non-GAAP EPS, missing analyst EPS estimates but beating them for revenue. Monness Crespi set a $20 price target for the company in April 2022, citing a strong global presence and the need for the company’s products in the wake of the Russian invasion of Ukraine.
Catherine D. Wood’s ARK Investment Management is Palantir Technologies Inc. (NYSE:PLTR)’s largest investor. It has a $642 million stake that comes through owning 35 million shares.
Tao Value mentioned the company in its fourth quarter 2021 investor letter. Here is what the fund said:
“We have no new position this quarter and have made below changes to our portfolio. We also sold Palantir (PLTR) as I identified it subject to high retail bubble risk (using above method) and are not part of our core “Mindful Compounder” holdings.”
2. Vodafone Group Public Limited Company (NASDAQ:VOD)
Renaissance Technologies’ Stake Value: $388 million
Percentage of Renaissance Technologies’ 13F Portfolio: 0.48%
Number of Hedge Fund Holders: 17
Share Price as of December 12: $17.13
Vodafone Group Public Limited Company (NASDAQ:VOD) is a telecommunications service provider that is headquartered in the United Kingdom. The company provides mobile network coverage, broadband, television coverage, insurance, internet of things (IoT) products, and insurance.
Vodafone Group Public Limited Company (NASDAQ:VOD) reported €22.5 billion in revenue and €0.049 in non-GAAP EPS for its H1 2021, beating analyst revenue estimates. During the quarter, its revenue was driven by growth in Europe and Africa and post pandemic recovery. UBS lowered the company’s share price target to GBp 147 from GBp 157 in April 2022.
Renaissance Technologies had a $388 million stake in Vodafone Group Public Limited Company (NASDAQ:VOD) for its fourth quarter of 2021 holdings. This stake came through the investment firm holding 26 million shares. Insider Monkey’s Q4 2021 hedge fund analysis outlined that 17 out of 924 funds had also held a stake in the company.
Vodafone Group Public Limited Company (NASDAQ:VOD)’s largest investor after Renaissance is Steven Tananbaum’s GoldenTree Asset Management which owns 4.2 million shares worth $63 million.
1. AT&T Inc. (NYSE:T)
Renaissance Technologies’ Stake Value: $460 million
Percentage of Renaissance Technologies’ 13F Portfolio: 0.57%
Number of Hedge Fund Holders: 70
Share Price as of December 12: $19.56
AT&T Inc. (NYSE:T) is an American telecommunications services provider. It offers wireless voice and data plans, cloud solutions, different kinds of telephony services, and cloud solutions.
Dr. Simons’ hedge fund had owned 18.7 million AT&T Inc. (NYSE:T) shares during Q4 2021 for a $460 million stake that translated into 0.57% of its investment portfolio. During the same time period, 70 of the 924 hedge funds profiled by Insider Monkey had invested in the firm.
AT&T Inc. (NYSE:T)’s fiscal fourth quarter results revealed that it had brought in $41 billion in revenue and $0.78 in non-GAAP EPS, for a strong set of results that beat Wall Street estimates. Raymond James lowered its price target to $26 from $32 in April 2022, stating that some uncertainty still remains in regards to the company.
Ken Griffin’s Citadel Investment Group is AT&T Inc. (NYSE:T)’s largest investor. It owns 43 million shares worth $1 billion.
Weitz Investment Management mentioned the company in its fourth quarter investor letter as it outlined that:
“After several quarters of pandemic-induced outsized growth, new broadband connection growth has slowed for U.S. cable operators. This slower growth has coincided with a renewed push by competitors like Verizon and AT&T Inc. (NYSE:T) to offer high-speed data (either via wireless connects or by building new fiber-optic networks).”
Disclosure: None. You can also take a look at 13 Best Hemp Stocks to Buy Now and Billionaire Ken Fisher’s Top 10 High Dividend Stock Picks.
