In this article, we discuss the 5 stocks that billionaire Leon Cooperman is buying. If you want to read our detailed analysis of these stocks, go directly to Billionaire Leon Cooperman Is Buying These 10 Stocks.
5. General Motors Company (NYSE:GM)
Number of Hedge Fund Holders: 86
Percentage Increase in Stake During Q3: 31%
General Motors Company (NYSE:GM) makes and sells automobiles. Regulatory filings show that Omega Advisors owned 490,000 shares in the company at the end of the third quarter of 2021 worth over $25 million, representing 1.36% of the portfolio.
Wedbush analyst Daniel Ives recently kept an Outperform rating on General Motors Company (NYSE:GM) stock with a price target of $85, noting that a bull case scenario for the firm could result in the share price going up to $100 in the next year or so.
Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Harris Associates is a leading shareholder in General Motors Company (NYSE:GM) with 34 million shares worth more than $2 billion.
Junto Investments, in its Q4 2020 investor letter, mentioned General Motors Company (NYSE:GM). Here is what the fund has to say about General Motors Company in its letter:
“General Motors was the biggest gainer. We managed to buy it at a screamingly cheap price in the middle of March. A lot of interesting news has emerged about GM recently, including the new electric product delivery system BrightDrop and GM Cruise’s team-up with Microsoft Azure to commercialize self-driving cars in 2021. GM’s intrinsic value is crystallizing and the company is worth a whole lot more than is still reflected in the market.”
4. Sierra Metals Inc. (NYSE:SMTS)
Number of Hedge Fund Holders: 7
Percentage Increase in Stake During Q3: 17%
Sierra Metals Inc. (NYSE:SMTS) is a diversified metals and mining firm with core interests in Peru and Mexico. It explores for silver, copper, lead, zinc, and gold deposits. The company has a market cap of $223 million and is headquartered in Canada.
According to the latest data, Omega Advisors owned 3.4 million shares in Sierra Metals Inc. (NYSE:SMTS) at the end of September 2021 worth $6.1 million, representing 0.32% of the portfolio.
Among the hedge funds being tracked by Insider Monkey, New York-based firm Renaissance Technologies is a leading shareholder in Sierra Metals Inc. (NYSE:SMTS) with 1.2 million shares worth more than $2.1 million.
3. Vertiv Holdings Co (NYSE:VRT)
Number of Hedge Fund Holders: 36
Percentage Increase in Stake During Q3: 15%
Vertiv Holdings Co (NYSE:VRT) makes and sells critical digital infrastructure technologies. Securities filings show that Omega Advisors owned 1.7 million shares in the company at the end of the third quarter of 2021 worth $42 million, representing 2.27% of the portfolio.
On October 28, investment advisory Deutsche Bank maintained a Buy rating on Vertiv Holdings Co (NYSE:VRT) stock and raised the price target to $32 from $30, appreciating the third quarter earnings of the firm.
Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Brahman Capital is a leading shareholder in Vertiv Holdings Co (NYSE:VRT) with 5.7 million shares worth more than $137 million.
2. SunOpta Inc. (NASDAQ:STKL)
Number of Hedge Fund Holders: 26
Percentage Increase in Stake During Q3: 8%
SunOpta Inc. (NASDAQ:STKL) markets food and beverage products that are plant or fruit-based. The company was founded in 1973 and is headquartered in Minnesota. It has a market cap of $710 million.
Omega Advisors owned 1.9 million shares in SunOpta Inc. (NASDAQ:STKL) at the end of September 2021 worth $17 million, representing 0.94% of the portfolio.
At the end of the second quarter of 2021, 26 hedge funds in the database of Insider Monkey held stakes worth $514 million in SunOpta Inc. (NASDAQ:STKL), up from 21 in the previous quarter worth $633 million.
1. PennyMac Financial Services, Inc. (NYSE:PFSI)
Number of Hedge Fund Holders: 26
Percentage Increase in Stake During Q3: 282%
PennyMac Financial Services, Inc. (NYSE:PFSI) is a California-based banking and investment firm. It recently posted earnings for the third quarter, reporting earnings per share of $3.80, beating estimates by $0.33. The revenue over the period was $786 million.
The hedge fund of billionaire Leon Cooperman owned 382,328 shares of PennyMac Financial Services, Inc. (NYSE:PFSI) at the end of the third quarter of 2021 worth more than $23 million, representing 1.23% of the total portfolio.
Among the hedge funds being tracked by Insider Monkey, Boston-based investment firm MFN Partners is a leading shareholder in PennyMac Financial Services, Inc. (NYSE:PFSI) with 3.5 million shares worth more than $215 million.
You can also take a peek at 10 Best Micro-Cap Stocks to Invest In and Top 10 Stocks to Buy According to Charles Pollnow’s Triple Frond Partners.
