This article presents an overview of Jim Cramer Does Not Like These 5 Stocks. For a detailed overview of such stocks, read our article, Jim Cramer Does Not Like These 10 Stocks.
5. New York Community Bancorp, Inc (NYSE:NYCB)
Number of Hedge Fund Investors: 42
On March 1, Jim Cramer called New York Community Bancorp, Inc (NYSE:NYCB) a “skunk in a garden party.” New York Community Bancorp, Inc (NYSE:NYCB) is in the spotlight after the company said it plans to raise $1 billion from a group of investors led by former Treasury Secretary Steven Mnuchin’s firm. Joseph Otting would be the new CEO of New York Community Bancorp, Inc (NYSE:NYCB).
On March 7, New York Community Bancorp, Inc (NYSE:NYCB) cut its dividend by a whopping 80%.
4. Paramount Global Class B (NASDAQ:PARA)
Number of Hedge Fund Investors: 43
In January this year, Cramer was asked about Paramount Global Class B (NASDAQ:PARA). Here’s what he said about the company:
“That’s like the balance sheet from hell. We love good balance sheets, don’t like bad balance sheets. That’s got a bad one.”
As of the end of the fourth quarter of 2023, 43 hedge funds reported having stakes in Paramount Global Class B (NASDAQ:PARA), up from 33 funds in the previous quarter. This shows a significant jump in hedge fund sentiment.
3. Confluent Inc (NASDAQ:CFLT)
Number of Hedge Fund Investors: 43
Jim Cramer recently said during his program on CNBC that Confluent Inc (NASDAQ:CFLT) had “some issues” involving their financials and that’s why he’d “hold off” on buying the stock. Cramer said on his program Mad Money that he does not “back” companies whose financials are not “pristine.”
Confluent Inc (NASDAQ:CFLT) shares have gained about 43% year to date through March 10.
Last month, Confluent Inc (NASDAQ:CFLT) posted fourth quarter results. Adjusted EPS in the quarter came in at $0.09, beating estimates by $0.04. Revenue in the period jumped 26% year over year to $213 million, surpassing estimates by $7.72 million.
Alger Small Cap Growth Fund stated the following regarding Confluent, Inc. (NASDAQ:CFLT) in its fourth quarter 2023 investor letter:
“Confluent, Inc. (NASDAQ:CFLT) is a software company that develops data streaming platforms, which connects a company’s systems, applications, and data layers in real-time. The platform allows businesses to process data continuously in real-time, which can improve workflows, automation, and customer experiences. During the quarter, shares detracted from performance after the company reported weaker-than-expected cloud het dollar retention, along with management lowering their fiscal fourth quarter outlook, citing incremental macroeconomic pressure and some larger customers migrating back to on-premise.”
2. Transocean LTD (NYSE:RIG)
Number of Hedge Fund Investors: 45
Jim Cramer was recently asked about his thoughts on drilling company Transocean LTD (NYSE:RIG). Cramer said:
“Too down and out.”
Cramer said he’s been around the oil drilling industry for too long which has taught him that if you want to own any stocks in this sector it should be Schlumberger, Halliburton, or “you’re going to buy nobody.”
Smart money investors might not agree with Cramer here since Insider Monkey’s database of 933 hedge funds shows that 45 hedge funds had stakes in Transocean LTD (NYSE:RIG). The most notable stake in Transocean LTD (NYSE:RIG) is owned by David Greenspan’s Slate Path Capital which owns a $132 million stake in Transocean LTD (NYSE:RIG).
1. Qualcomm Inc (NASDAQ:QCOM)
Number of Hedge Fund Investors: 78
In a latest Lightning Round program on CNBC, Jim Cramer was asked about Qualcomm Inc (NASDAQ:QCOM). Cramer said Qualcomm is a “quandary” to him. He said while he understands that many people would like to own the stock, Qualcomm Inc (NASDAQ:QCOM) is “not for me.”
Earlier this month, Qualcomm Inc (NASDAQ:QCOM) increased its quarterly dividend by 6.3%.
As of the end of the fourth quarter of 2023, 78 hedge funds out of the 933 funds tracked by Insider Monkey had stakes in Qualcomm Inc (NASDAQ:QCOM), up from 67 hedge funds in the previous quarter.
Madison Sustainable Equity Fund stated the following regarding QUALCOMM Incorporated (NASDAQ:QCOM) in its fourth quarter 2023 investor letter:
“QUALCOMM Incorporated (NASDAQ:QCOM) also reported a solid fourth fiscal quarter with better than expected results. The company guided the first quarter ahead of expectations despite headwinds from Samsung as the inventory headwinds dissipate. Qualcomm remains well positioned in the mobile handset market and should benefit as Artificial Intelligence moves to edge devices which could drive an upgrade cycle.”
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