In this article, we discuss 5 stocks to invest in now according to Viraj Mehta’s Arctis Global. If you want to read our detailed analysis of Mehta’s history, investment philosophy, and hedge fund performance, go directly to 10 Stocks to Invest In Now According to Viraj Mehta’s Arctis Global.
5. Popular, Inc. (NASDAQ:BPOP)
Arctis Global’s Stake Value: $21,394,000
Percentage of Arctis Global’s 13F Portfolio: 8.01%
Number of Hedge Fund Holders: 35
Popular, Inc. (NASDAQ:BPOP) is a holding corporation. The company is in the banking and financial services business. Popular, Inc. (NASDAQ:BPOP) reported financial results for Q1 2022 on April 26, posting earnings per share of $2.69, beating estimates by $0.39. The $649 million revenue grew 2.6% year-over-year, beating analysts’ predictions by roughly $1.84 million.
Hedge funds are loading up on Popular, Inc. (NASDAQ:BPOP), as Insider Monkey’s data shows that 35 hedge funds held stake in the company as of the end of the fourth quarter, compared to 33 funds at the end of the preceding quarter. Bernard Horn’s Polaris Capital Management is a significant shareholder of Popular, Inc. (NASDAQ:BPOP), with 3.35 million shares worth $274.59 million.
In the fourth quarter, Arctis Global cut its stake in Popular, Inc. (NASDAQ:BPOP) by 153,745 shares, reducing its total stake size by 38%. However, the hedge fund held 260,772 shares of Popular, Inc. (NASDAQ:BPOP), worth more than $21.39 million. On April 12, Keefe Bruyette analyst Kelly Motta reiterated an Outperform rating on Popular, Inc. (NASDAQ:BPOP) and a price target of $115.
4. BGC Partners, Inc. (NASDAQ:BGCP)
Arctis Global’s Stake Value: $27,701,000
Percentage of Arctis Global’s 13F Portfolio: 10.37%
Number of Hedge Fund Holders: 26
BGC Partners, Inc. (NASDAQ:BGCP) works in the financial markets, providing brokerage services. Fixed income, foreign currency, stocks, insurance, energy, commodities, and futures are among the products offered by the business, which also offers integrated voice, hybrid, and completely computerized brokerage.
BGC Partners, Inc. (NASDAQ:BGCP), on May 2, posted earnings for the first quarter of 2022. The reported EPS came in at $0.21, in line with estimates. Revenue over the period came in at $506.5 million, below estimates by $10.79 million. BGC Partners, Inc. (NASDAQ:BGCP) also issued a $0.01 per share quarterly dividend, in line with previous.
In the fourth quarter, Arctis Global sold 6.87 million shares of BGC Partners, Inc. (NASDAQ:BGCP), reducing its remaining stake by about 54%. At the end of the quarter, the hedge fund held more than 5.96 million shares of BGC Partners, Inc. (NASDAQ:BGCP), worth about $27.70 million.
An Outperform rating was assigned to BGC Partners, Inc. (NASDAQ:BGCP) and a $7 price objective by Credit Suisse analyst Gautam Sawant on February 15. According to Insider Monkey’s Q4 data, 26 hedge funds were long BGC Partners, Inc. (NASDAQ:BGCP), compared to 23 funds in the previous quarter.
3. MoneyGram International, Inc. (NASDAQ:MGI)
Arctis Global’s Stake Value: $29,222,000
Percentage of Arctis Global’s 13F Portfolio: 10.94%
Number of Hedge Fund Holders: 24
MoneyGram International, Inc. (NASDAQ:MGI) is a global financial services provider specializing in international money transfers, bill payment services, and money orders. In the fourth quarter of 2021, 24 hedge funds were bullish on MoneyGram International, Inc. (NASDAQ:MGI), up from 23 funds in the third quarter.
Northland analyst Mike Grondahl downgraded MoneyGram International, Inc. (NASDAQ:MGI) from Outperform to Market Perform on March 22 and lowered his price objective of $11 from $12.25. MoneyGram International, Inc. (NASDAQ:MGI) announced a formal agreement on February 15 under which Madison Dearborn Partners-affiliated funds will purchase all outstanding shares for $11 per share in an all-cash transaction scheduled to complete in Q4.
Viraj Mehta’s Arctis Global is a prominent shareholder of MoneyGram International, Inc. (NASDAQ:MGI) in Q4 2021, with 3.70 million shares worth $29.22 million. The fund first bought a stake in MoneyGram International, Inc. (NASDAQ:MGI) in the second quarter of 2021.
2. Fortress Transportation and Infrastructure Investors LLC (NASDAQ:FTAI)
Arctis Global’s Stake Value: $36,325,000
Percentage of Arctis Global’s 13F Portfolio: 13.6%
Number of Hedge Fund Holders: 17
Fortress Transportation and Infrastructure Investors LLC (NASDAQ:FTAI) is in the business of buying, selling, and managing transportation and transportation-related infrastructure and equipment. At the end of the fourth quarter of 2021, 17 hedge funds in the database of Insider Monkey held stakes worth $268.24 million in Fortress Transportation and Infrastructure Investors LLC (NASDAQ:FTAI), the same as in the previous quarter worth $141.59 million.
Fortress Transportation and Infrastructure Investors LLC (NASDAQ:FTAI) issued a quarterly dividend of $0.33 per share on April 28, in line with the previous. The firm posted earnings for the first fiscal quarter on April 28, reporting a revenue of $137.84 million, up 78.7% year-on-year. For the Russia/Ukraine war, Fortress Transportation and Infrastructure Investors LLC (NASDAQ:FTAI) wrote down $195 million in impairments, bad debt, and lost income, which it intends to recoup in full via insurance revenues, asset sales gains, and outstanding repayments.
Arctis Global held 1.26 million shares of Fortress Transportation and Infrastructure Investors LLC (NASDAQ:FTAI), worth $36.33 million, representing 13.6% of its portfolio. The hedge fund has increased its stake in Fortress Transportation (NASDAQ:FTAI) by a whopping 843% in the fourth quarter of 2021.
1. Alliance Data Systems Corporation (NYSE:ADS)
Arctis Global’s Stake Value: $50,829,000
Percentage of Arctis Global’s 13F Portfolio: 19.03%
Number of Hedge Fund Holders: 35
Alliance Data Systems Corporation (NYSE:ADS) is a company that specializes in data-driven marketing solutions. Alliance Data Systems Corporation (NYSE:ADS) stated on March 23 that it would be renamed Bread Financial Holdings, Inc. (NYSE:BFH), a tech-forward financial services firm.
Alliance Data Systems Corporation (NYSE:ADS) was downgraded from Overweight to Equal Weight by Morgan Stanley analyst Jeffrey Adelson on March 28, and a price objective of $67, down from $104.
In its Q4 2021 investor letter, Tao Value mentioned Alliance Data Systems Corporation (NYSE:ADS). Here is what the fund said:
“ADS, on the other hand, was a classic failed roll-up by a promotional wall street veteran CEO, optically looks very cheap. I was also lured by its seemingly drastic decision making in share-buybacks, which in retrospective, were merely clumsy “imitation” of the great capital allocator CEOs that investors loved to study.”
You can also take a peek at 10 Stock Picks of Rishi Bajaj’s Altai Capital and 10 Stocks to Sell Now According to Michael Zimmerman’s Prentice Capital Management
