Top 5 Stock Picks of Billionaire Louis Bacon

3. Capital One Financial Corporation (NYSE:COF)

Moore Global Investments’ stake value: $67 million

Percentage of Moore Global Investments’ portfolio: 1.33%

Number of hedge fund holders: 61

Louis Bacon’s investment firm raised its stake in Capital One Financial Corporation (NYSE:COF) by 79% during the fourth quarter of 2021. It appears that Moore Global saw the dip in its share price as a buying opportunity. Shares of the American bank holding company are falling since it hit a 52-weeks high of $177 a share in September 2021. Interest rate hikes and bearish broader market performance negatively impacted its stock price in the past two quarters. On the positive side, the company continues paying dividends to shareholders. It currently offers a dividend yield of 1.80%.

Of the 924 hedge funds tracked by Insider Monkey, 61 were bullish about Capital One Financial Corporation as of December.