5 Stocks to Buy Under $50 According to Brian Higgins’ King Street Capital

1. 8×8, Inc. (NYSE:EGHT)

Higgins’ Stake Value: $66.6 million

Percentage of Brian Higgins’ 13F Portfolio: 5.45%

Number of Hedge Fund Holders: 29

Stock Price as of October 6: $23.84

8×8, Inc. (NYSE:EGHT) is a voice over IP company that provides cloud-based voice, video and mobile communications for businesses and enterprises. The California-based company ranks first on our list of the 10 stocks to buy according to Brian Higgins’ King Street Capital.

On August 4, the company issued its quarterly earnings report for the second quarter of 2021, with reported earnings per share at -$0.40, falling short of the estimates by $0.08. On the other hand, the declared revenue for the quarter amounted to $148.33 million, surpassing market estimates by $5.26 million.

Based on the latest 13F Filings, Brian Higgins’ King Street Capital holds 2.4 million shares of 8×8, Inc. (NYSE:EGHT), amounting to over $66.6 million in worth and representing 5.45% of the fund’s total portfolio value. By the end of the second quarter of 2021, 29 hedge funds out of the 873 tracked by Insider Monkey held stakes in 8×8, Inc. (NYSE:EGHT) worth roughly $928 million. This is compared to 24 hedge funds in the preceding quarter that held stakes worth approximately $1 billion.

On June 21, Needham analyst Ryan Koontz initiated coverage of 8×8, Inc. (NYSE:EGHT) with a Buy rating and $32 price target.

You can also take a look at 15 Dividend Stocks People Buy for Early Retirement and Cathie Wood Is Selling These 10 Stocks.

Follow Insider Monkey on Twitter