5 Best Very Cheap Stocks To Buy Now According To Hedge Funds

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In this article, we discuss the 5 best very cheap stocks to buy in 2022. If you want to see more stocks in this selection, check out 11 Best Very Cheap Stocks To Buy Now According To Hedge Funds.

05. Under Armour, Inc. (NYSE:UA)

Number of Hedge Fund Holders as of Q2, 2022: 38

Stock Price as of October 27: $6.42

Under Armour, Inc. (NYSE:UA) is a Baltimore, Maryland-based manufacturer and seller of sports apparel, athletic shirts, and other products. On October 26, Citi analyst Paul Lejuez lowered his price target on Under Armour, Inc. (NYSE:UA) to $8 from $10 and kept a Neutral rating on the shares.

Under Armour, Inc. (NYSE:UA) anticipates its annual topline growth to be around 6% during FY23. The company has undergone restructuring to improve its sales and gross profit margins.  Experts believe the stock is cheap, with a forward EV/Sales multiple below 0.6.  On October 20, Williams Trading analyst Sam Poser upgraded Under Armour, Inc. (NYSE:UA) to Hold from Sell with a $6.50 price target.

According to Insider Monkey’s Q2 data, Under Armour, Inc. (NYSE:UA) was found in the public stock portfolios of 38 hedge funds, with collective stakes in the company worth $486.74 million. Adage Capital Management was the top shareholder of Under Armour Inc (NYSE:UA) in the second quarter, with a $96.69 million stake consisting of 12.75 million shares. Moreover, Renaissance Technologies increased its investment in Under Armour, Inc. (NYSE:UA) by 96% during Q2 2022.

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