5 Best Beaten Down Stocks to Buy Now

In this article, we will be taking a look at the 5 best beaten down stocks to buy now. To read our detailed analysis of undervalued stocks and their potential, you can go directly to see the 11 Best Beaten Down Stocks to Buy Now.

5. BlackRock, Inc. (NYSE:BLK)

Number of Hedge Fund Holders: 49

Year-to-Date Price Share Decline as of August 1: 26.6%

Date of BlackRock, Inc. (NYSE:BLK) hitting a 52-week low: June 16

BlackRock, Inc. (NYSE:BLK), a publicly-owned investment manager, is next on our list. The company provides services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, governments, and others.

This July, a Buy rating was reiterated on BlackRock, Inc. (NYSE:BLK) shares, alongside a $270 price target. The price target and rating were set by Brian Bedell at Deutsche Bank.

BlackRock, Inc.’s (NYSE:BLK) stock price had plunged by 29% as of this July, creating an opportunity for investors to buy the 52-week low stock at a discounted price. The company is set to benefit from its $90 billion in net capital inflows as of the second quarter of 2022, a figure that can propel the company’s revenue and EPS higher, leading analysts to believe that BlackRock, Inc. (NYSE:BLK) will benefit from diluted EPS growth of 6.4% annually for the next five years. Being a stable dividend-payer that raised its yield for the past 18 years as well, the company is even more attractive to investors with its 2.9% yield as of August 1.

Out of 912 hedge funds, 49 hedge funds were long BlackRock, Inc. (NYSE:BLK) in the first quarter. In the previous quarter as well, 49 hedge funds were long the stock. Their total stake values were $1.8 billion and $1.5 billion respectively.

Carillon Tower Advisers, an investment management firm, mentioned BlackRock, Inc. (NYSE:BLK) in its first quarter 2022 investor letter. Here’s what they said:

“BlackRock (NYSE:BLK) shares underperformed due to a decline in equity market performance. As a reminder, market weakness typically drives assets under management lower, which in turn leads to lower revenues.”