In this article, we will take a look at the 5 oversold growth stocks to buy right now. To read our analysis of the recent trends and market activity, you can go to the 11 Oversold Growth Stocks to Buy Right Now.
5. Rogers Communications Inc. (NYSE:RCI)
14-day RSI as of April 5: 22.38
Latest Trailing P/E Ratio: 31.23
Number of Hedge Fund Holders: 23
Toronto, Canada-based Rogers Communications Inc. (NYSE:RCI) is Canada’s leading wireless, cable and media company that provides connectivity and entertainment to Canadian consumers and businesses across the country.
On February 1, Rogers Communications Inc. (NYSE:RCI) released its financial results for Q4 2023. Its revenue surged by 28% y-o-y to C$5.3 billion, while net income shrunk 35% y-o-y to C$328 million. Its normalized EPS of $0.89 surpassed consensus estimates by $0.06.
According to the Insider Monkey data on more than 900 leading hedge funds, 23 hedge funds were long Rogers Communications Inc. (NYSE:RCI) shares as of Q4 2023, with the total shares held by hedge funds valued at $586 million.
4. WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC)
14-day RSI as of April 5: 21.71
Latest Trailing P/E Ratio: 26.76
Number of Hedge Fund Holders: 53
Based in Phoenix, Arizona, WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) is a leading business services provider specializing in temporary space solutions. Its product offerings include modular office complexes, mobile offices, classrooms, temporary restrooms, portable storage containers, and climate-controlled storage units, among others.
In Q4 2023, WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) revenue increased by 4% y-o-y to $612 million, while net income remained nearly constant y-o-y at $86 million. Its normalized EPS of $0.47, missed consensus estimates by $0.06.
On January 29, WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) announced that it has entered into a definitive agreement to acquire McGrath RentCorp (NASDAQ:MGRC), a leading business-to-business rental company based in Livermore, California. The cash and stock transaction values the target company at $3.8 billion and is expected to close in Q2 2024.
3. Zoetis Inc. (NYSE:ZTS)
14-day RSI as of April 5: 21.07
Latest Trailing P/E Ratio: 29.54
Number of Hedge Fund Holders: 50
Parsippany, New Jersey-based Zoetis Inc. (NYSE:ZTS) is a leading animal health company with a portfolio and pipeline of medicines, vaccines, diagnostics, and technologies offered in over 100 countries. Formerly a subsidiary of Pfizer Inc. (NYSE:PFE), the company became independent through a spinoff in 2013.
Zoetis Inc. (NYSE:ZTS) has been continuously making efforts to increase its product franchises in major markets. During the fourth quarter, the company received approvals for Simparica Trio, the company’s triple combination oral parasiticide for dogs, in China. While the company’s injectable monoclonal antibody for the alleviation of pain associated with osteoarthritis in cats, Solensia, received approval in Brazil.
Zoetis Inc. (NYSE:ZTS) has paid regular dividends since its spinoff from Pfizer Inc. (NYSE:PFE) with consecutive dividend increases for several years. The board of directors of the company declared a dividend of $0.432 per share for Q2 2024, on February 6.
As of Q4 2023, Zoetis Inc. (NYSE:ZTS) shares were owned by 50 hedge funds, one of the highest on our list of 11 oversold growth stocks to buy right now. William Von Mueffling’s Cantillon Capital Management was its lead hedge fund shareholder with ownership of 1.4 million shares valued at $280 million.
2. Ziff Davis, Inc. (NASDAQ:ZD)
14-day RSI as of April 5: 20.05
Latest Trailing P/E Ratio: 65.41
Number of Hedge Fund Holders: 19
New York-based Ziff Davis, Inc. (NASDAQ:ZD) is a vertically focused digital media and internet company whose portfolio includes leading brands in technology, shopping, gaming and entertainment, connectivity, health, cybersecurity, and martech.
On February 21, Ziff Davis, Inc. (NASDAQ:ZD) released its financial results for Q4 2023. Its generated a revenue of $390 million and a net income of $63 million. Its normalized EPS of $2.33 surpassed consensus estimates by $0.02.
As of Q4 2023, Ziff Davis, Inc. (NASDAQ:ZD) shares were owned by 19 leading hedge funds tracked by Insider Monkey, for a total value of $249 million. Chuck Royce’s Royce & Associates was the largest shareholder with ownership of 1.5 million shares valued at $102 million.
1. Lululemon Athletica Inc. (NASDAQ:LULU)
14-day RSI as of April 5: 18.26
Latest Trailing P/E Ratio: 27.42
Number of Hedge Fund Holders: 52
Vancouver, Canada-based Lululemon Athletica Inc. (NASDAQ:LULU) is a healthy lifestyle inspired athletic apparel company for yoga, running, training, and other sweaty pursuits.
On March 21, Lululemon Athletica Inc. (NASDAQ:LULU) released its financial results for the quarter ended January 28, 2024. Its revenue went up by 16% year-on-year to $3.2 billion while its net income surged by 459% year-on-year to $669 million.
Lululemon Athletica Inc. (NASDAQ:LULU) has been a consistent component of hedge fund portfolios. As of Q4 2023, its shares were held by 52 hedge funds tracked by Insider Monkey. In its Q4 2023 “Artisan Mid Cap Fund” investor letter, Artisan Partners, an investment management company, made the following comments about Lululemon Athletica Inc. (NASDAQ:LULU):
“Lululemon is a designer and retailer of yoga-inspired apparel. An upgraded management team has delivered impressive results in recent years, strengthening all operational functions—supply chain, product design, e-commerce, digital marketing—and driving higher traffic in both brick-and-mortar and online stores. Recent financial results suggest the profit cycle remains nicely in motion as the company beat estimates across both brick-and-mortar and digital sales along with margins.”
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