5 New Stock Picks of Billionaire Mario Gabelli

1. Twitter, Inc. (NYSE:TWTR)

Number of Hedge Fund Holders: 69  

Twitter, Inc. (NYSE:TWTR) operates as a platform for public self-expression and conversation in real-time. According to the latest filings, GAMCO Investors owned over 9,200 shares of Twitter, Inc. (NYSE:TWTR) at the end of the second quarter of 2022 worth $344,000, representing a very small portion of the portfolio. 

On August 24, Rosenblatt analyst Barton Crockett downgraded Twitter, Inc. (NYSE:TWTR) stock to Neutral from Buy and lowered the price target to $37 from $52, noting the firm needed a fast resolution to the whistleblower saga.  

At the end of the second quarter of 2022, 69 hedge funds in the database of Insider Monkey held stakes worth $2.4 billion in Twitter, Inc. (NYSE:TWTR), compared to 68 in the preceding quarter worth $2 billion. 

In its Q2 2022 investor letter, RGIGA Investment Advisors, an asset management firm, highlighted a few stocks and Twitter, Inc. (NYSE:TWTR) was one of them. Here is what the fund said:

“Early in the second quarter, we sold our Twitter (NYSE:TWTR) shares on the official announcement that Elon Musk would acquire the company at $54.20 per share. Although we typically would wait for what was then a large 7% merger/arb spread to close, we figured in this market environment it would be beneficial to move aside in the event future drama might ensue while building cash in order to opportunistically deploy into better opportunities. During the quarter, we saw the chance to do so and bought shares in four companies.”

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