In this piece, we will take a look at the five most profitable penny stocks now. For more penny stocks, head on over to 15 Most Profitable Penny Stocks Now.
5. Lufax Holding Ltd (NYSE:LU)
Trailing Twelve Month Net Income: $1.75 billion (1CNY = 0.15USD)
Number of Hedge Fund Holders in Q3 2022: 14
Lufax Holding Ltd (NYSE:LU) is a Chinese financial services platform that provides different products such as loans and wealth management services. The firm is based in Shanghai, China.
Lufax Holding Ltd (NYSE:LU)’s shares have posted good returns this year, with the stock currently up 6% year to date. By the end of Q3 2022, 14 of the 920 hedge funds polled by Insider Monkey had held a stake in the firm.
Lufax Holding Ltd (NYSE:LU)’s largest investor is Thomas Steyer’s Farallon Capital which owns 38 million shares that are worth $74 million.
Follow Lufax Holding Ltd
Follow Lufax Holding Ltd
4. Ambev S.A. (NYSE:ABEV)
Trailing Twelve Month Net Income: $2.52 billion (1BRL = 0.19USD)
Number of Hedge Fund Holders in Q3 2022: 17
Ambev S.A. (NYSE:ABEV) is a Brazilian beverage company based in Sao Paulo. The firm sells both alcoholic and non-alcoholic drinks.
Ambev S.A. (NYSE:ABEV) refuted allegations of misstating tax claims in its financial statements in February 2023, insisting that it complies with all regulatory requirements when reporting its financials. Insider Monkey took a look at 920 hedge funds for their third quarter of 2022 investments to discover that 17 had bought the firm’s shares.
Ambev S.A. (NYSE:ABEV)’s largest investor is Jean-Marie Eveillard’s First Eagle Investment Management which owns 285 million shares that are worth $777 million.
Follow Ambev S.a. (NYSE:ABEV)
Follow Ambev S.a. (NYSE:ABEV)
3. Banco Bradesco S.A. (NYSE:BBD)
Trailing Twelve Month Net Income: $3.87 billion (1BRL = 0.19USD)
Number of Hedge Fund Holders in Q3 2022: 15
Banco Bradesco S.A. (NYSE:BBD) is a Brazilian regional bank that provides both banking and insurance services. The firm is based in Osasco, Brazil.
Banco Bradesco S.A. (NYSE:BBD) disappointed investors when it reported its 2022 financial results in February 2023 as it posted a massive 75% drop in net income and increased its loan loss provisions. As part of their September quarter of 2022 shareholdings, 15 of the 920 hedge funds surveyed by Insider Monkey had held a stake in the bank.
Out of these, Ken Fisher’s Fisher Asset Management is Banco Bradesco S.A. (NYSE:BBD)’s largest investor. It owns 22 million shares that are worth $66 million.
Follow Banco Bradesco S A (NYSE:BBD)
Follow Banco Bradesco S A (NYSE:BBD)
2. Nokia Oyj (NYSE:NOK)
Trailing Twelve Month Net Income: $4.49 billion (1EUR = 1.07USD)
Number of Hedge Fund Holders in Q3 2022: 24
Nokia Oyj (NYSE:NOK) is a Finnish communications hardware provider that sells products such as baseband equipment, routers, switches, and other products. It is headquartered in Espoo, Finland.
Nokia Oyj (NYSE:NOK) announced in January 2023 that it has extended a patent sharing agreement with Samsung through which the latter will use the firm’s crucial 5G designs. 24 of the 920 hedge funds part of Insider Monkey’s Q3 2022 research had invested in the company.
Nokia Oyj (NYSE:NOK)’s largest investor is Israel Englander’s Millennium Management which owns 27 million shares that are worth $128 million.
Follow Nokia Corp (NYSE:NOK)
Follow Nokia Corp (NYSE:NOK)
1. Banco Santander, S.A. (NYSE:SAN)
Trailing Twelve Month Net Income: $10.26 billion (1EUR = 1.07USD)
Number of Hedge Fund Holders in Q3 2022: 12
Banco Santander, S.A. (NYSE:SAN) is a Spanish bank that is one of the oldest of its kind since it was set up in 1875. The firm provides accounts, wealth management, and other banking services.
Banco Santander, S.A. (NYSE:SAN) made a big announcement in January 2023 when it revealed that it had topped Bloomberg’s Gender Equality Index survey for the financial sector. Insider Monkey dug through 920 hedge fund holdings for last year’s third quarter to find out that 12 had held a stake in the bank.
Out of these, John W. Rogers’ Ariel Investments is Banco Santander, S.A. (NYSE:SAN)’s largest hedge fund investor with a $16 million stake that comes via one million shares.
Follow Banco Santander Chile New (NYSE:SAN)
Follow Banco Santander Chile New (NYSE:SAN)
Disclosure: None. You can also take a peek at 15 Biggest Insurance Companies in the World and 10 Best MLP Stocks To Buy Now.
Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.
