4 Best Stocks to Buy According to Billionaire James Dinan

This article discusses the top 4 stock picks of James Dinan’s York Capital Management at the end of June 2022. If you want to read about the fund’s history, the assets it invests in, its investment style and recent changes it has made to its portfolio, please go to 8 Best Stocks to Buy According to Billionaire James Dinan.

4. PGT Innovations, Inc. (NYSE:PGTI)

York Capital Management’s Stake Value: $6,019,000

Percentage of York Capital Management’s 13F Portfolio: 1.95%

Number of Hedge Fund Holders: 12

PGT Innovations, Inc. (NYSE:PGTI) was the third stock – apart from Diebold Nixdorf, Incorporated (NYSE:DBD) and NCR Corporation (NYSE:NCR) – that made its debut in York Capital Management’s 13F portfolio during the second quarter. Founded in 1980, PGT Innovations, Inc. (NYSE:PGTI) manufactures and sells impact-resistant aluminum frame windows and doors. Shares of PGT Innovations, Inc. (NYSE:PGTI) have been far more resilient than most industrial stocks amid a selloff in broader markets this year. They are trading at the same levels as they were at this time last year and also near the same levels they traded in Q3 2018 when 26 hedge funds among those we track disclosed having a stake in the company.

For its fiscal year 2022 second quarter, PGT Innovations, Inc. (NYSE:PGTI) reported non-GAAP earnings per share of $0.67 on revenue of $407 million, beating analysts’ consensus estimates by $0.22 and $42.27 million, respectively. Despite this, on August 15, analysts at JPMorgan Chase & Co. lowered their price target on the stock to $19 from $22, representing a potential downside of 5.8% from the stock’s last closing price.