5 Best Value Stocks to Buy in 2023 According to Billionaire Mario Gabelli

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1. Garrett Motion Inc. (NASDAQ:GTX)

Stake Value of GAMCO Investors: $7,891,753

Number of Hedge Fund Holders: 29

Garrett Motion Inc. (NASDAQ:GTX) specializes in designing, manufacturing, and selling turbocharger and electric-boosting technologies for original equipment manufacturers (OEMs) of light and commercial vehicles. The company offers turbochargers for gasoline and diesel engines in light vehicles, as well as commercial vehicle turbochargers. In Q1 2023, Mario Gabelli boosted his position in Garrett Motion Inc. (NASDAQ:GTX) by 99%, holding a stake worth $7.8 million as of the end of March.

While the company reported mixed Q1 earnings, it reaffirmed its FY 2023 outlook. The projected net sales range for Garrett Motion Inc. (NASDAQ:GTX) is between $3.79 billion and $3.98 billion, versus the consensus estimate of $3.82 billion. As for net income (GAAP), it is expected to fall within the range of $231 million to $268 million. In terms of adjusted EBITDA (Non-GAAP), the forecasted range is between $585 million and $635 million.

According to Insider Monkey’s first quarter database, 29 hedge funds were long Garrett Motion Inc. (NASDAQ:GTX), compared to 25 funds in the earlier quarter. Howard Marks’ Oaktree Capital Management is the largest stakeholder of the company.

Alluvial Capital Management made the following comment about Garrett Motion Inc. (NASDAQ:GTX) in its Q4 2022 investor letter:

“On the topic of superchargers, our investment in Garrett Motion Inc. (NASDAQ:GTX) preferred shares is performing well. Garrett Motion shares have been rising as the semiconductor supply chain normalizes, unsnarling automotive production. Additionally, rumors of a possible sale began swirling in November. The company has not commented on the rumors, but an eventual sale has always been the most likely outcome for Garrett Motion. Should a sale come to pass, I think holders of Garrett’s convertible preferreds can expect at least $12.”

Follow Garrett Motion Inc. (NYSE:GTX)

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