5 Cash-Rich Penny Stocks Hedge Funds Are Buying

3. Playstudios Inc (NASDAQ:MYPS)

Number of Hedge Fund Investors: 14

Free Cash Flow (TTM): $3M

Las  Vegas-based Playstudios Inc (NASDAQ:MYPS) ranks third in our list of the best cash-rich penny stocks to buy according to smart money investors. In November Playstudios Inc (NASDAQ:MYPS) posted Q3 results. Revenue jumped 5.3% year over year to $75.9 million.

As of the end of the third quarter of 2023, 14 hedge funds in the database of Insider Monkey held stakes in Playstudios Inc (NASDAQ:MYPS).