In this article, we will take a look at the 5 best US stocks to invest in under $10. To explore more about such companies, head over to 16 Best US Stocks To Invest In Under $10.
5. BGC Group, Inc. (NASDAQ:BGC)
Number of Hedge Fund Holders: 34
BGC Group, Inc. (NASDAQ:BGC) is a global financial brokerage and technology firm that was founded in the bustling metropolis of New York in 1945. It provides a comprehensive array of brokerage solutions to both financial and non-financial entities across the globe.
The Q4 2023 earnings call transcript highlights a significant rise in liquidity, soaring to $701.4 million from the $524.3 million recorded in 2022. This substantial increase signifies a marked improvement in the company’s financial strength over the past year. Additionally, the company experienced robust revenue growth, with Q4 witnessing an impressive 18% increase to reach $516.8 million. Moreover, adjusted EBITDA surged significantly, achieving a substantial gain of $151.6 million during the same period.
Insider Monkey’s database reveals that
4. Kinross Gold Corporation (NYSE:KGC)
Number of Hedge Fund Holders: 35
Kinross Gold Corporation (NYSE:KGC) is a Canadian-based mining company established in 1993. It is primarily involved in the extraction and processing of gold and silver. In the Q3 report of 2023, the company made a substantial contribution of $10 million, comprising both monetary and in-kind contributions, along with other site investments. Tasiast, Paracatu and La Coipa accounted for nearly 70% of production and were the most cost-effective mines in the portfolio, driving significant cash flows.
Kinross Gold Corporation (NYSE:KGC) is considered one of the best American stocks to buy now, as it has made significant strides in improving its financial position. Q4 2023 earnings call transcript shows that the company has repaid $190 million of debt. And it ended the year with approximately $350 million in cash and $1.9 billion in total liquidity.
Israel Englander’s Millennium Management has the largest stake in the company, with shares amounting to 6.5 million and a net worth of approximately $39.1 million. From Insider Monkey’s database of the top 933 hedge funds, 35 shares were held by Kinross Gold Corporation (NYSE:KGC) in Q4 of 2023.
3. Alight, Inc. (NYSE:ALIT)
Number of Hedge Fund Holders: 39
Alight, Inc. (NYSE:ALIT) is a cloud-based provider that offers integrated digital human capital and business solutions. It operates through two segments: Employer Solutions and Professional Services.
On March 20, 2024, the company has announced an agreement to sell its Payroll and Professional Services Business for up to $1.2 billion to an affiliate of H.I.G Capital. The Q4 2023 earnings call transcript shows that the company repurchased $40 million in common stock under share repurchase program and experienced a significant gain of around 35% in operating cash flow to $386 million in 2023.
Bob Peck and Andy Raab’s FPR Partners have the largest stake in the company, with shares amounting to 28.2 million and a net worth of approximately $240.5 million. And from Insider Monkey’s database of top 933 hedge funds, 39 shares are held by Alight, Inc. (NYSE:ALIT) in Q4 of 2023.
2. New York Community Bancorp, Inc. (NYSE:NYCB)
Number of Hedge Fund Holders: 42
New York Community Bancorp, Inc. (NYSE:NYCB) was established in 1993 with headquarters in Westbury, NY. The company lends money for affordable rental properties and offers banking services to individuals and businesses.
On March 7, 2024, the company announced that it had secured over $1 billion in investments from Liberty Strategic Capital, Hudson Bay Capital Management, Reverence Capital Partners, Citadel Global Equities, other institutional investors, and certain members of the company’s management. Additionally, the company is also undergoing significant restructuring and changes in leadership. The company will add four new directors to its board, including Steven Mnuchin, former Treasury Secretary, and Joseph Otting, former comptroller of the currency, and Mr. Otting will assume the role of CEO.
In Q4 of 2023, New York Community Bancorp, Inc. (NYSE:NYCB) held stakes in 42 hedge funds from Insider Monkey’s list of 933.Irving Kahn’s Kahn Brothers is the largest stakeholder, with 6.2 million shares and a net worth of approximately $63 million.
1. Southwestern Energy Company (NYSE:SWN)
Number of Hedge Fund Holders: 44
Southwestern Energy Company (NYSE:SWN) is a holding company specializing in the exploration, development, and production of natural gas, oil, and NGLs. Southwestern Energy Company operates primarily in two segments: Exploration and Production.
As of December 31, 2023, the company had accumulated total debt of $4 billion in comparison to $4.4 billion last year and has recorded no outstanding letters of credit in 2023 earnings call report.
In the fourth quarter of 2023, Southwestern Energy Company (NYSE:SWN) had holdings in 44 hedge funds listed by Insider Monkey out of a total of 933. The primary shareholder, D.E. Shaw, possessed 24.1 million shares valued at approximately $157.6 million.
Disclosure: None. You can also take a look at the 15 Best U.S. Stocks to Buy Now Under $10 and the 10 Best Artificial Intelligence Stocks Under $10.
Insider Monkey focuses on uncovering the best investment ideas of hedge funds and investors. Please subscribe to our daily free newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.
