5 Best NASDAQ Stocks Under $20

In this piece, we will take a look at the five best NASDAQ stocks under $20. If you take a look at what’s happening in the NASDAQ these days, then check out 12 Best NASDAQ Stocks Under $20.

5. American Airlines Group Inc. (NASDAQ:AAL)

Number of Hedge Fund Investors In Q1 2023: 36

American Airlines Group Inc. (NASDAQ:AAL) is one of America’s biggest airlines. There is quite a bit of positive sentiment surrounding the stock, as the boom in air travel after the pandemic should lead to it returning to 2019 capacity levels. At the same time, it is trading below the median industry forward price to earnings ratio, and the firm expects to further increase capacity this year.

36 of the 943 hedge funds polled by Insider Monkey for their Q1 2023 investments had bought and owned American Airlines Group Inc. (NASDAQ:AAL)’s shares. Jim Simons’ Renaissance Technologies is the largest shareholder through a $231 million stake.

4. Roivant Sciences Ltd. (NASDAQ:ROIV)

Number of Hedge Fund Investors In Q1 2023: 43

Roivant Sciences Ltd. (NASDAQ:ROIV) is a biotechnology company that develops treatments for immune system disorders. The firm has several impressive treatments in its portfolio, such as the one for dermatitis which demonstrated positive results in a Phase 3 trial.

Insider Monkey dug through 943 hedge funds for this year’s first quarter to find out that 43 had invested in the firm. Out of these, Roivant Sciences Ltd. (NASDAQ:ROIV)’s largest shareholder is Daniel Gold’s QVT Financial courtesy of an investment worth $904 million.

3. Hertz Global Holdings, Inc. (NASDAQ:HTZ)

Number of Hedge Fund Investors In Q1 2023: 45

Hertz Global Holdings, Inc. (NASDAQ:HTZ) is a car rental firm with a global operations base. Like American Airlines, it stands to benefit from a growth in global travel, but the hangover from its bankruptcy filing still lingers over investor sentiment. As evidence of a potential rebound, the firm has beaten analyst EPS estimates for all four of its previous quarters.

By the end of 2023’s first quarter, 45 out of the 943 hedge funds part of Insider Monkey’s database had held a stake in Hertz Global Holdings, Inc. (NASDAQ:HTZ). Out of these, Tom Wagner and Ara Cohen’s Knighthead Capital is the largest shareholder with a stake of $2.9 billion.

2. First Citizens BancShares, Inc. (NASDAQ:FCNCP)

Number of Hedge Fund Investors In Q1 2023: 45

First Citizens BancShares, Inc. (NASDAQ:FCNCP) is a regional bank that is more than a century old. It has a strong track record of waiting and then expanding by acquiring banks that stretch themselves too much during financial turmoil. For instance, it bought the defunct Silicon Valley Bank earlier this year; a decision that made it the second most profitable bank in America as of Q1 2023.

During the same time period, 45 out of the 943 hedge funds surveyed by Insider Monkey were perhaps wise enough to have invested in the bank’s Class A stock traded as First Citizens BancShares, Inc. (NASDAQ:FCNCA). Out of these, the wisest is John Armitage’s Egerton Capital Limited with a $586 million investment.

1. Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Number of Hedge Fund Investors In Q1 2023: 63

Warner Bros. Discovery, Inc. (NASDAQ:WBD) is another American entertainment giant with a strong franchise base that can prove to be a cash cow in the future. However, recent titles such as The Flash have failed to impress, but the firm’s direct to consumer segment seems to be providing some counter to the recent negative mood.

63 of the 943 hedge funds surveyed by Insider Monkey had bought Warner Bros. Discovery, Inc. (NASDAQ:WBD)’s shares in Q1 2023.

Disclosure: None. You can also take a look at 17 Biggest Finance Companies in the World and 15 High Growth Large Cap Stocks to Invest In.

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