5 Most Shorted Stocks Hedge Funds Are Buying

3. Voya Financial, Inc. (NYSE:VOYA)

Short % of Float (Nov 29, 2022): 23.85%

Number of Hedge Fund Holders: 31

Voya Financial, Inc. (NYSE:VOYA) is a financial services company that provides a range of retirement, investment, and insurance products and services to individuals and businesses. Voya Financial, Inc. (NYSE:VOYA) operates through a number of business segments, including retirement, investment management, and employee benefits.

Elyse Greenspan, an analyst at Wells Fargo, keeps an Overweight rating on Voya Financial, Inc. (NYSE:VOYA) with a price rate of $86. The analyst’s bullish view is based on the company’s expected 12%-17% growth of EPS in 2023. However, Voya Financial, Inc. (NYSE:VOYA) is currently trading at a forward P/E of 15.37 compared to the sector median of 10.77, which indicates that the company may be overvalued.

31 hedge funds were long on the company’s stock at the end of the third quarter, according to Insider Monkey’s database. Samlyn Capital had the biggest long position in the company at the end of Q3 2022.