In this article, we will discuss the 5 best stocks to buy according to Richard Mashaal’s Senvest Management. If you want to read our detailed analysis of Mashaal’s history, investment philosophy, and hedge fund performance, go directly to the 10 Best Stocks to Buy According to Richard Mashaal’s Senvest Management.
5. Silvergate Capital Corporation (NYSE: SI)
Mashaal’s Stake Value: $147,302,000
Percentage of Richard Mashaal’s 13F Portfolio: 4.63%
Number of Hedge Fund Holders: 28
Silvergate Capital Corporation (NYSE: SI) functions as a bank holding company for Silvergate Bank that provides banking products and services. The company was founded in 1988 and ranks fifth on the list of 10 best stocks to buy according to Richard Mashaal’s Senvest Management. Silvergate shares have gained a whopping 658.45% over the last 12 months.
On July 20, Silvergate Capital Corporation (NYSE: SI) posted earnings for the second quarter of 2021. It reported earnings per share of $0.80, surpassing expectations by $0.29. The revenue for the second quarter of 2021 was $42.45 million, up 97.5% year over year, beating expectations by $6.02 million. On June 30, 2021, the company reported that there were 1,224 digital currency customers compared to 881 as on June 30, 2020. On June 14, Goldman Sachs analyst Will Nance initiated a coverage on Silvergate Capital with a “Neutral” rating and a $120 price target.
Senvest Management trimmed its stake in the stock by 15% to 1.04 million shares in the first quarter of 2021, worth $147.30 million. Hedge funds are loading up on Silvergate Capital Corporation (NYSE: SI), as Insider Monkey’s data shows that 28 hedge funds held stakes in the company in the first quarter of 2021, compared to 20 funds a quarter earlier.