In this article, we will be taking a look at the 3 best stocks to buy now according to billionaire Marc Lasry’s Avenue Capital. To read our detailed analysis of Lasry’s profile, investment strategy, and 13F holdings, you can go directly to see the 8 Best Stocks to Buy According to Billionaire Marc Lasry.
03. Paramount Global (NASDAQ:PARA)
Avenue Capital’s Stake Value: $8.473 million
Percentage of Avenue Capital’s 13F Portfolio: 12.89%
Number of Hedge Fund Holders: 42
A media and entertainment business, Paramount Global (NASDAQ:PARA) operates internationally. Before changing its name to Paramount Global in February 2022, Paramount Global was known as ViacomCBS Inc. The business was founded in 1986 and is based in New York. For Q2, 2022, Avenue Capital increased its stake in Paramount Global (NASDAQ:PARA) by 24% in Q2, holding 214,606 of its shares worth roughly $8.473 million. As of Q2 2022, 42 of the 895 hedge funds tracked by Insider Monkey have positions in Paramount Global (NASDAQ:PARA), worth $2.58 billion.
On August 5, Bryan Kraft, an analyst at Deutsche Bank, maintained a Buy rating on the shares while lowering his price target for Paramount Global (NASDAQ:PARA) from $35 to $32.
02. Alexander’s, Inc. (NYSE:ALX)
Avenue Capital’s Stake Value: $8.586 million
Percentage of Avenue Capital’s 13F Portfolio: 13.06%
Number of Hedge Fund Holders: 9
Alexander’s, Inc., a real estate investment trust, owns seven properties in the greater New York City metropolitan area. Year to date, Alexander’s, Inc. (NYSE:ALX) lost a 13% value and on September 16, it had a closing price of $231.99.
For the quarter that ended on June 2022, Alexander’s, Inc. (NYSE:ALX) reported revenues of $49.82 million, falling short of the consensus estimate by 0.35%.
The stock is a generous dividend payer with a yield of 7.7%, making it an attractive option for income investors. This makes it one of the best stocks to buy now, according to billionaire Marc Lasry. Nine hedge funds held stakes in Alexander’s, Inc. (NYSE:ALX) in the second quarter of 2022, with a total stake value of $66.9 million. Of these funds, Frank Brosen’s Taconic Capital was the largest stakeholder in the company, holding 142,300 shares worth $31.6 million.
01. Amplify Energy Corp. (NYSE:AMPY)
Avenue Capital’s Stake Value: $16.751 million
Percentage of Avenue Capital’s 13F Portfolio: 25.49%
Number of Hedge Fund Holders: 13
Amplify Energy Corp. (NYSE:AMPY) is a company that buys, develops, exploits, and produces oil and natural gas resources in the US. As of December 31, 2021, it had 2,417 gross producing wells and total estimated proved reserves of about 121.2 million barrels of oil equivalent. The company is based in Houston, Texas. The stock has gained 113.5% value year to date.
Out of 895 hedge funds in our database, 13 hedge funds were long Amplify Energy Corp. (NYSE:AMPY) in the second quarter of 2022. Their total stake value was about $33.5 million. Avenue Capital has maintained a stake in Amplify Energy Corp. (NYSE:AMPY), comprising a constant number of shares (2.561 million) since Q4, 2019. The stock comprises 25.49% of Avenue Capital’s 13F portfolio.
You can also take a look at 10 High-Yield Dividend Stocks for Stable Income and 10 Dividend Stocks to Buy According to Billionaire Cliff Asness.
