4 Best Stocks to Buy Now According to This Under-the-Radar Value Investor

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This article discusses Mark Massey’s hedge fund AltaRock Partners’ top 4 stock picks at the end of June 2022. If you want to read a detailed report that discusses AltaRock Partners’ recent performance, investment philosophy, and its top 8 stock picks, please check out 8 Best Stocks to Buy According to Mark Massey’s AltaRock Partners.

4. Amazon.com, Inc. (NASDAQ:AMZN)

AltaRock Partners’ Stake Value: $325,472,000

Percentage of AltaRock Partners’ 13F Portfolio: 10.04%

Number of Hedge Fund Holders: 253

AltaRock Partners held 127,246 shares of Amazon.com, Inc. (NASDAQ:AMZN) at the end of March, which post the company’s 20-for-1 stock split means 2,544,920 shares. During the second quarter, the fund increased its holding in the company by 20% to 3,064,420 shares. Immediately after the split, Amazon.com, Inc.’s (NASDAQ:AMZN) saw a rapid decline, but it has been on an uptrend over the past month and is now trading down by only 16% year-to-date.

The online retail and cloud giant has been on an acquisition spree over the past few weeks. On July 21, Amazon.com, Inc. (NASDAQ:AMZN) announced through a press release that it would acquire 1Life Healthcare, Inc. (NASDAQ:ONEM) for $18 per share in an all-cash transaction that values the latter at approximately $3.9 billion. This $18 per share was a 76% premium from 1Life Healthcare, Inc.’s (NASDAQ:ONEM) stock’s last closing price before the announcement of the deal. Two weeks later on August 5, Amazon.com, Inc. (NASDAQ:AMZN) again announced that it would acquire iRobot Corporation (NASDAQ:IRBT) for $1.7 billion or $61 per share in an all-cash transaction. iRobot Corporation’s (NASDAQ:IRBT) stock closed at $49.99 on August 4 and opened close to $60 the next day post the deal’s announcement, registering a gain of 20%.

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