5 Stocks Jim Cramer and Hedge Funds Have in Common

1. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 194

Meta Platforms, Inc. (NASDAQ:META) is one of Jim Cramer’s favorite stocks right now. He has mentioned the stock multiple times recently. Cramer is bullish on the stock because of the company’s cost-cutting measures and the growth of reels. According to Cramer, Meta Platforms, Inc. (NASDAQ:META) “is a horse” and he wants to “get on this horse”.

Meta Platforms, Inc. (NASDAQ:META) was held by 194 hedge funds at the end of Q4 2022. These funds disclosed positions worth $15.5 billion in the company. As of December 31, Eagle Capital Management is the top shareholder in the company and has a stake worth $1 billion.

Renaissance Investment Management made the following comment about Meta Platforms, Inc. (NASDAQ:META) in its Q4 2022 investor letter:

“Lastly, Meta Platforms, Inc. (NASDAQ:META) declined for the quarter after reporting disappointing earnings and guidance. The company’s plan to accelerate operating expenses and capital investments despite a slowdown in the digital advertising market was not well received by investors. However, the stock pared losses in the second half of the quarter after management reversed course and announced a reduction in operating expenses for 2023 along with substantial headcount reductions.”

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