5 Dirt Cheap Stocks To Buy According to Hedge Funds

2. General Motors Company (NYSE:GM)

PE Ratio as of April 3: 6.17

Number of Hedge Fund Holders: 83

General Motors Company (NYSE:GM) is a designer, manufacturer, and seller of automobiles and automobile parts. The company sells its vehicles under different brands, including Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling. The stock has a PE ratio of 6.17 as of April 3.

20 Wall Street analysts have covered General Motors Company (NYSE:GM) in the last three months, and 13 keep a Buy-equivalent rating on the stock. As of April 3, the average price target of $50.16 represents an upside of 11.05% from present levels.

On April 2, General Motors Company (NYSE:GM) unveiled its Q1 sales figures, which showed that the company delivered 594,233 vehicles in the U.S. in the quarter, and its retail sales went up by 6% year-over-year.

In the fourth quarter of 2023, hedge fund sentiment was positive toward General Motors Company (NYSE:GM), which is why it is the 2nd dirt cheap stock to buy according to hedge funds. In the quarter, 83 hedge funds held positions in the company, and their stakes amounted to $3.929 billion. This is compared to 66 funds in the third quarter, with positions worth $2.033 billion. As of December 31, 2023, Harris Associates is the most dominant shareholder in the company and has a position worth $1.284 billion.