5 Stocks to Buy According to Canyon Capital Advisors

1. Berry Global Group, Inc. (NYSE:BERY)

Canyon Capital Advisors’ Stake Value: $181,890,000
Percentage of Canyon Capital Advisors’ 13F Portfolio: 6.19%
Number of Hedge Fund Holders: 43

Berry Global Group, Inc. (NYSE:BERY) provides tailored solutions for value-added engineered materials, non-woven specialty materials, and consumer packaging. Berry Global Group, Inc. (NYSE:BERY) stock represents 6.19% of Canyon Capital Advisors’ fourth quarter securities, with the hedge fund holding 2.47 million shares worth $181.89 million.

Morgan Stanley analyst Angel Castillo lifted his price objective on Berry Global Group, Inc. (NYSE:BERY) to $79 from $71 on January 20 and kept an Equal Weight rating on the stock. Ricky Sandler’s Eminence Capital is the most significant stakeholder of Berry Global Group, Inc. (NYSE:BERY), with 2.71 million shares worth $199.68 million.

As of the end of the fourth quarter, 43 hedge funds in Insider Monkey’s database held stakes in Berry Global Group, Inc. (NYSE:BERY), an increase compared to 39 funds in the preceding quarter.

Rhizome Partners, an investment management firm, in its third-quarter 2021 investor letter, mentioned Berry Global Group, Inc. (NYSE:BERY). Here is what the fund said:

“Berry Global does what Berry Global does well. It generates a good chunk of cash flow. Building on our Berry Global experience, we built a 3% position in the SPAC warrants of Gores Holdings V. The company purchased the aluminum-packaging business of Ardagh and now trades as Ardagh Metal Packaging. Unlike most SPACs, Gores has a track record of achieving its EBITDA forecast. Ardagh Metal trades at a significant discount to Ball Corporation and has more exposure to higher-margin specialty cans. We believe the SPAC warrants have 3-4x upside and the common stock has the potential to double. The company may force us to exchange the warrants for common shares at a premium. In that case, our upside will be capped at about a triple.”

You can also take a peek at Top 6 Stocks to Buy Today According to Stephen Feinberg’s Cerberus Capital Management and 10 Stocks to Buy According to Himanshu Gulati’s Antara Capital

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