5 Best Stocks To Buy Under $10 According To Hedge Funds

4. Paysafe Limited (NYSE:PSFE)

Number of Hedge Fund Holders: 50

Paysafe Limited (NYSE:PSFE) is a London-based provider of specialized payment solutions globally. The company has an annual transactional volume of $100 billion and employs 3,400 people across more than a dozen locations globally. The company went public at the end of 2020 following a merger with SPAC that was supported by the Blackstone Group Inc (NYSE: BX) and CVC Capital Partners. Both these entities bought Paysafe back in 2017 for $4 billion.  

Of the 873 hedge funds being tracked by Insider Monkey, 50 hedge funds hold a position in Paysafe Limited (NYSE:PSFE) as of Q2 2021. The total worth of their position is $1.12 billion, which is equivalent to 19.1% of the company’s market capitalization.

Paysafe Limited (NYSE:PSFE) has an opportunity to reap the benefit of the growth potential in the online gambling industry in the US through its specialized products. The industry is expected to grow by 50% as more states are opening to online betting. Most recently, online sports betting started in Connecticut. Meanwhile, the proposal to start online sports betting is in the final stage in New York, and neighboring New Jersey became the first state to report $1 billion worth of sports bets in a month. Furthermore, the company also has digital wallets that can make it a play in the cryptocurrency universe as well.