5 Cash-Rich Penny Stocks Hedge Funds Are Buying

In this article, we will take a look at the 5 cash-rich penny stocks hedge funds are buying. To see more such companies, go directly to 13 Cash-Rich Penny Stocks Hedge Funds Are Buying.

5. Citizens, Inc. (NYSE:CIA)

Operating Cashflow (TTM): 56.45M

Number of Hedge Fund Holders: 7

Citizens Inc. is a Texas-based insurance company that offers life and disability insurance products. As of the end of the third quarter, 7 hedge funds tracked by Insider Monkey reported having stakes in Citizens, Inc. (NYSE:CIA), compared to 11 funds in the previous quarter. Some of the notable hedge fund stakeholders of Citizens, Inc. (NYSE:CIA) include Thomas E. Claugus’ GMT Capital, Israel Englander’s Millennium Management and Jim Simons’ Renaissance Technologies. In November, Citizens Inc posted its third quarter results. Citizens, Inc. (NYSE:CIA)’s total premium revenue in the quarter jumped 1% to total $43.9 million.

In November, Citizens, Inc. (NYSE:CIA) also announced that it entered into a white-label partnership with The Titan Agency to market and sell Citizens’ newly developed life and final expense insurance products.