In this article, we discuss 5 stocks to buy according to Himanshu Gulati’s Antara Capital. If you want to read our detailed analysis of Gulati’s history and hedge fund performance, go directly to 10 Stocks to Buy According to Himanshu Gulati’s Antara Capital.
5. Austerlitz Acquisition Corporation II (NYSE:ASZ)
Antara Capital Stake Value: $29,826,000
Percentage of Antara Capital’s 13F Portfolio: 1.47%
Number of Hedge Fund Holders: N/A
Austerlitz Acquisition Corporation II (NYSE:ASZ) is a blank check company. It focuses on purchasing companies in the financial technology and business services industries. Austerlitz Acquisition Corporation II (NYSE:ASZ), Bill Foley’s sixth blank check company, raised $1.2 billion in February 2021 by selling 120 million units for $10 each.
Antara Capital holds more than 3.07 million shares in Austerlitz Acquisition Corporation II (NYSE:ASZ), worth $29.83 million. This represents 1.47% of its Q4 portfolio. The hedge fund’s stake in Austerlitz Acquisition Corporation II (NYSE:ASZ) increased by 2969% in the fourth quarter of 2021. The fund first bought a stake in Austerlitz Acquisition Corporation II (NYSE:ASZ) in the second quarter of 2021. Glazer Capital is Austerlitz Acquisition Corporation II (NYSE:ASZ)’s most significant stakeholder, with 7.84 million shares worth $76.18 million.
4. International Game Technology PLC (NYSE:IGT)
Antara Capital Stake Value: $42,365,000
Percentage of Antara Capital’s 13F Portfolio: 2.09%
Number of Hedge Fund Holders: 35
Electronic gaming equipment, software, and network systems are designed, manufactured, and marketed by International Game Technology PLC (NYSE:IGT). Susquehanna analyst Joseph Stauff boosted his price objective on International Game Technology PLC (NYSE:IGT) from $11 to $24 on March 8 and maintained a Neutral rating on the stock.
According to Insider Monkey’s database, 35 hedge funds had a stake in International Game Technology PLC (NYSE:IGT) as of Q4 2021. The total value of the holdings was $ 575.13 million.
International Game Technology PLC (NYSE:IGT) is a new arrival in Himanshu Gulati’s portfolio, as his hedge fund bought about 1.47 million shares of the company, worth $42.37 million. 140 Summer Partners is the leading shareholder of International Game Technology PLC (NYSE:IGT), with a stake worth over $73.90 million.
Mittleman Brothers Investment Management, an investment management firm, in its fourth-quarter 2021 investor letter, mentioned International Game Technology PLC (NYSE:IGT). Here is what the fund said:
“For the third consecutive quarter, International Game Technology was among the top three contributors to portfolio results. The company reinstated a cash dividend and announced its first ever share buyback program in Q4. While both initiatives are modest in amount they are a good start given how cheap the shares remain at 7.7x EBITDA and 11x FCF. IGT’s lottery business proved its resilience through the pandemic and continues to see strong growth. The slot machine business has also stabilised and sports gambling provides a tailwind of a large secular growth story that is underappreciated with IGT. Their “PlaySports” technology is the backbone of 50 U.S. sports betting operations in 17 states, including the retail and mobile sportsbook for Resort World Las Vegas, and they are behind the scenes on many other high profile operators. MIM increased its estimate of IGT’s fair value to $39 during Q4 from $38 per share in Q3 (previously $29), which applies the same targeted EV/EBITDA multiple of 9x on estimate of 2022 EBITDA at $1.6B, and market cap. to FCF multiple of 14x estimated $550M in FCF for 2022, but with slightly lower net debt.
MIM believes its estimate is conservative as IGT’s closest peer, Scientific Games’ (SGMS) lottery business was recently sold to Brookfield Asset Management for 12x EBITDA ($6B / $500M EBITDA), and does not appear to be a better business than IGT’s lottery business (which is 80% of IGT’s overall EBITDA). https:// www.gamingintelligence.com/finance/manda/146780-scientificgames-to-sell-lottery-business-to-brookfield-business-partners/. Applying the same 12x multiple to IGT’s lottery EBITDA would boost the value of IGT’s stock to about $55 per share, well above MIM’s $39 target and the $29 year-end price.”
3. VICI Properties Inc. (NYSE:VICI)
Antara Capital Stake Value: $43,660,000
Percentage of Antara Capital’s 13F Portfolio: 2.15%
Number of Hedge Fund Holders: 37
VICI Properties Inc. (NYSE:VICI) is a casino, hospitality, and entertainment real estate investment trust that owns, buys, and develops properties. Following a limitation period, Citi analyst Smedes Rose initiated coverage of VICI Properties Inc. (NYSE:VICI) with a Buy rating and a $32 price target on February 7.
VICI Properties Inc. (NYSE:VICI) recently saw a decrease in hedge fund sentiment. Long hedge fund positions fell to 37 at the end of the fourth quarter, down from 47 at the end of the previous quarter.
Antara Capital strengthened its position in VICI Properties Inc. (NYSE:VICI) by buying 500,000 additional shares. This makes their stake in VICI Properties Inc. (NYSE:VICI) total 1.45 million shares worth $43.66 million.
2. Innoviz Technologies Ltd. (NASDAQ:INVZ)
Antara Capital Stake Value: $52,607,000
Percentage of Antara Capital’s 13F Portfolio: 2.59%
Number of Hedge Fund Holders: 22
Innoviz Technologies Ltd. (NASDAQ:INVZ) is a maker of high-performance solid-state LiDAR sensors and perception software for autonomous cars in mass manufacturing. Innoviz Technologies Ltd. (NASDAQ:INVZ) announced on March 8 that their LiDAR sensors would run on the BlackBerry Limited (NYSE:BB) QNX Automotive Operating System.
Antara Capital owned more than 6.77 million shares of Innoviz Technologies Ltd. (NASDAQ:INVZ), valued at over $52.61 million, representing 2.59% of the hedge fund’s Q4 portfolio. The hedge fund cut its stake in the firm by 4% compared to the third quarter of 2021. Antara Capital is the leading shareholder of Innoviz Technologies Ltd. (NASDAQ:INVZ).
The number of hedge funds tracked by Insider Monkey having stakes in Innoviz Technologies Ltd. (NASDAQ:INVZ) grew to 22 in Q4, up from 13 in the preceding quarter. These hedge funds hold a consolidated value of $116.90 million, up from $76.31 million.
1. Hertz Global Holdings, Inc. (NASDAQ:HTZ)
Antara Capital Stake Value: $148,339,000
Percentage of Antara Capital’s 13F Portfolio: 7.32%
Number of Hedge Fund Holders: 55
Hertz Global Holdings, Inc. (NASDAQ:HTZ) is a vehicle rental company that operates in the United States. On November 9, 2021, Hertz Global Holdings, Inc. (NASDAQ:HTZ) shares began trading on the Nasdaq Global Select Market under the symbol HTZ. Since emerging from bankruptcy in 2021, Hertz has been traded on the over-the-counter (OTC) markets as HTZZ.
On February 24, Deutsche Bank analyst Chris Woronka boosted his price objective on Hertz Global Holdings, Inc. (NASDAQ:HTZ) from $34 to $36 while maintaining a Buy rating on the stock. Hertz Global Holdings, Inc. (NASDAQ:HTZ) is one of the latest acquisitions of Antara Capital in Q4 2021. The hedge fund held shares worth over $148.34 million in the company, representing 7.32% of its 13F portfolio.
Overall, in the fourth quarter, 55 hedge funds monitored by Insider Monkey were bullish on Hertz Global Holdings, Inc. (NASDAQ:HTZ). The stakes held by these funds are valued at $7.10 billion. Tom Wagner and Ara Cohen’s Knighthead Capital is Hertz Global Holdings, Inc. (NASDAQ:HTZ)’s most significant stakeholder, with 181.46 million shares worth $4.53 billion.
You can also take a peek at 10 Stocks to Invest In Today According to Orkun Kilic’s Berry Street Capital and 9 Stocks to Buy Now According to Munir Javeri’s 3G Sahana Capital Management
