5 Best Penny Stocks to Buy Now

2. Pitney Bowes Inc. (NYSE:PBI)

Number of Hedge Fund Holders: 22

Share Price as of December 20: $3.85

Pitney Bowes Inc. (NYSE:PBI) provides shipping, global e-commerce logistics, mailing, and financial services. As of 2021, the company serves about 750,000 customers globally. The company is ranked high among the best penny stocks to buy now. Given its financial stability and expansion prospects, the company has the potential to grow earnings in the long term. On November 4, Pitney Bowes Inc. (NYSE:PBI) declared a quarterly dividend of $0.05 per share, in line with the previous. The company’s dividend yield on December 20 came in at 5.19%.

At the close of the third quarter of 2022, 22 hedge funds held stakes in Pitney Bowes Inc. (NYSE:PBI). The total value of these stakes amounted to $35.7 million. As of November 22, D E Shaw is the largest investor in Pitney Bowes Inc. (NYSE:PBI) and has a position worth $10 million.