In this article, we will take a look at the 5 aggressive stocks picked by hedge funds. To see more such companies, go directly to Aggressive Stock Portfolio: 12 Stocks Picked by Hedge Funds.
5. RPC, Inc. (NYSE:RES)
Number of Hedge Fund Holders: 20
Oil and gas services company RPC, Inc. (NYSE:RES) has gained more than 6% over the past six months. RPC, Inc. (NYSE:RES) recently crushed analyst estimates for Q4 and also doubled its quarterly dividend.
RPC, Inc. (NYSE:RES)’s net income in the fourth quarter increased to a whopping $87 million from $12.3 million posted in the same quarter of last year. RPC, Inc. (NYSE:RES)’s management said that it expects “continued robust drilling and completion activities based on indications from most customers.”
At the end of the last quarter of 2022, 20 hedge funds tracked by Insider Monkey reported having stakes in RPC, Inc. (NYSE:RES). The total value of these shares was about $96 million. The biggest stakeholder of RPC, Inc. (NYSE:RES) during this period was Mario Gabelli’s GAMCO Investors which had a $28 million stake in the company.
4. Stride, Inc. (NYSE:LRN)
Number of Hedge Fund Holders: 21
Education services company Stride, Inc. (NYSE:LRN) ranks 3rd in our list of aggressive portfolio stock picks of hedge funds. Stride, Inc. (NYSE:LRN) recently posted fiscal first quarter results. Revenue in the period jumped about 12% to reach $458.4 million. Net income in the quarter totaled $50.7 million, versus $42 million posted in the comparable period last year.
A total of 21 hedge funds tracked by Insider Monkey had stakes in Stride, Inc. (NYSE:LRN) at the end of the fourth quarter of 2022.
3. Warrior Met Coal, Inc. (NYSE:HCC)
Number of Hedge Fund Holders: 25
Coal mining company Warrior Met Coal, Inc. (NYSE:HCC) is a decent stock pick because of its growth potential as well as its dividend payments. In February, Warrior Met Coal, Inc. (NYSE:HCC) announced a whopping 16.7% increase in its quarterly dividend as compared to its previous dividend. Forward dividend yield came in at 0.75%. The dividend was payable on February 27 to shareholders of record as of February 20.
Warrior Met Coal, Inc. (NYSE:HCC) also declared a special dividend $0.88 per share. As of the end of the fourth quarter of 2022, 25 hedge funds tracked by Insider Monkey reported having stakes in Warrior Met Coal, Inc. (NYSE:HCC). The total worth of these stakes was $249 million.
2. Semtech Corporation (NASDAQ:SMTC)
Number of Hedge Fund Holders: 28
Semtech Corporation (NASDAQ:SMTC) is a California-based company that supplies analog and mixed-signal semiconductors and advanced algorithms. Semtech Corporation (NASDAQ:SMTC) recently closed its $1.2 billion acquisition of Sierra Wireless (NASDAQ:SWIR). The deal will nearly double Semtech Corporation (NASDAQ:SMTC)’s annual revenues. Semtech Corporation (NASDAQ:SMTC) also said that Sierra Wireless will bring about $100 million in high-margin Internet of Things cloud services recurring revenues.
In November, Semtech Corporation (NASDAQ:SMTC) posted its third quarter results. Adjusted EPS in the quarter came in at $0.65, beating estimates by $0.02. Revenue in the quarter fell by about 8.9% on a YoY basis to reach $177.62 million, still beating estimates by $2.07 million. For the fourth quarter Semtech Corporation (NASDAQ:SMTC) expects its net sales to come in the range of $145.0 million to $155.0 million, versus the consensus of $165.65 million.
At the end of the fourth quarter of 2022, 28 hedge funds tracked by Insider Monkey reported having stakes in Semtech Corporation (NASDAQ:SMTC). The biggest stakeholder of Semtech Corporation (NASDAQ:SMTC) among these hedge funds was D E Shaw which has a $49 million stake in the firm.
Carillon Tower Advisers made the following comment about Semtech Corporation (NASDAQ:SMTC) in its Q3 2022 investor letter:
“Semtech Corporation (NASDAQ:SMTC) makes mixed-signal and analog semiconductors used across end markets that include computing, communications, and the “Internet of Things” (IoT). The stock sold off significantly after Semtech announced that it plans to acquire an IoT solutions provider in a deal that is expected to add significant scale benefits to the company but also to create a meaningful drag on its margin profile.”
1. CONSOL Energy Inc. (NYSE:CEIX)
Number of Hedge Fund Holders: 32
Pennsylvania-based coal company CONSOL Energy Inc. (NYSE:CEIX) recently announced Q4 results. GAAP EPS in the period came in at $5.39. Revenue in the period jumped about 33% on a YoY basis. CONSOL Energy Inc. (NYSE:CEIX) also declared a quarterly dividend of $1.10 per share. The dividend was payable on February 28 for shareholders on record as of February 17.
As of the end of the fourth quarter of 2022, 32 hedge funds tracked by Insider Monkey reported owning stakes in CONSOL Energy Inc. (NYSE:CEIX). The net worth of these shares was about $298 million.
You can also take a peek at 19 Biggest Outdoor Brands and Companies and 10 Most Undervalued Solar Stocks to Buy.
