5 Best Cheap Stocks To Buy Now According To Billionaire Abrams

4. Asbury Automotive Group Inc (NYSE: ABG)

Seth Klarman’s protege’s stock-picking strategy also worked in the case of Asbury Automotive Group Inc (NYSE: ABG) because shares of the automotive retailer jumped 15% year to date, enlarging twelve months gains to 78%. The hedge fund first initiated a position in Asbury during the third quarter of 2017. It is among the 10 cheap stocks to buy according to billionaire Abrams.

In a Q1 investor’s letter, Diamond Hill Capital commented on few stocks including Asbury Automotive Group. Here is what Diamond Hill Capital said:

“Car dealer Asbury Automotive Group, Inc. recently agreed to purchase a dealership in Dallas, Texas, to improve its poor new vehicle mix and geographic exposure; however, the deal fell through because the business needs cash to survive the impact of the coronavirus. We believe the core Asbury business is weak (although well run) and that the slowdown in sales from the coronavirus will have a long-term impact on the business.”