In this piece, we will take a look at the five best value stocks picked by Seth Klarman to buy heading into 2024. If you want to learn more about the hedge fund investor and why he’s a value investing guru, then check out 12 Best Value Stocks To Buy Heading Into 2024 (Picked By Seth Klarman).
5. Clarivate Plc (NYSE:CLVT)
Baupost Group’s Q3 2023 Investment: $150 million
Latest Price to Forward Earnings Ratio: 7.5
Clarivate Plc (NYSE:CLVT) is a British technology company that helps researchers and businesses with their analytics and other software related needs. Despite a tough environment for organizational spending due to high interest rates and inflation, the firm has done well financially as it has beaten analyst EPS estimates in most of its latest quarters.
Insider Monkey dug through 910 hedge fund portfolios for their Q2 2023 investments and found 39 Clarivate Plc (NYSE:CLVT) investors. Leonard Green’s Leonard Green & Partners owned the largest stake among these, which was worth $1.1 billion.
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4. CRH plc (NYSE:CRH)
Baupost Group’s Q3 2023 Investment: $183 million
Latest Price to Forward Earnings Ratio: 12.12
CRH plc (NYSE:CRH) is an Irish construction materials provider. The firm’s average share price target of $69.89 prices in a $10 upside over the current share price, and seems like Baupost Group is cognizant of this since it added CRH plc (NYSE:CRH) to its portfolio during Q3 2023.
During the previous quarter, 20 among the 910 hedge funds part of Insider Monkey’s database had also bought the firm’s shares. CRH plc (NYSE:CRH)’s biggest hedge fund shareholder back then was Edgar Wachenheim’s Greenhaven Associates due to its $116 million investment.
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3. Willis Towers Watson Public Limited Company (NASDAQ:WTW)
Baupost Group’s Q3 2023 Investment: $325 million
Latest Price to Forward Earnings Ratio: 14.99
Willis Towers Watson Public Limited Company (NASDAQ:WTW) is a British financial services firm that is also one of the oldest on our list since it was set up in 1828. The firm’s investors were in for some good news as the Q3 filings rolled in as Brandes Investment Partners significantly upped its stake in Willis Towers Watson Public Limited Company (NASDAQ:WTW).
As of June 2023 end, 32 out of the 910 hedge funds polled by Insider Monkey had invested in Willis Towers Watson Public Limited Company (NASDAQ:WTW). Jean-Marie Eveillard’s First Eagle Investment Management owned the largest stake among these, which was worth $1.1 billion and came via 4.9 million shares.
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2. The Liberty SiriusXM Group (NASDAQ:LSXMA)
Baupost Group’s Q3 2023 Investment: $378 million
Latest Price to Forward Earnings Ratio: 8.82
The Liberty SiriusXM Group (NASDAQ:LSXMA) is an American entertainment company that provides radio networks and other services. Despite the fact that the firm has missed analyst EPS estimates in two of its four latest quarters, analysts have rated the shares as Strong Buy on average.
By the end of this year’s second quarter, 43 out of the 910 hedge funds part of Insider Monkey’s database had invested in the company. The Liberty SiriusXM Group (NASDAQ:LSXMA)’s biggest shareholder during the time period was Warren Buffett’s Berkshire Hathaway as it owned 43 million shares that were worth $1.4 billion.
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1. Fidelity National Information Services, Inc. (NYSE:FIS)
Baupost Group’s Q3 2023 Investment: $384 million
Latest Price to Forward Earnings Ratio: 11.16
Fidelity National Information Services, Inc. (NYSE:FIS) is a financial technology company that serves the needs of banks and other institutions. The firm has beaten analyst EPS estimates in all four of its latest quarters, and analysts have set an average share price target of $64.70.
67 out of the 910 hedge funds polled by Insider Monkey for their Q2 2023 investments had held a stake in Fidelity National Information Services, Inc. (NYSE:FIS). Seth Klarman’s Baupost Group owned the largest stake among these which was worth $370 million.
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Disclosure: None. You can also take a look at Morgan Stanley’s 15 Stock Picks for 2023 and Ark Invest Stock Portfolio: Top 11 Picks.
