In this piece, we will take a look at the five oversold midcap stocks to buy now. If you want to take a detailed look at overbought and midcap stocks, check out 11 Oversold MidCap Stocks To Buy Now.
5. Elanco Animal Health Incorporated (NYSE:ELAN)
Number of Q4 2023 Hedge Fund Shareholders: 35
Latest RSI Score: 20.21
Elanco Animal Health Incorporated (NYSE:ELAN) is Indiana based healthcare firm whose products cover animal health. The stock has been under quite a stress lately, as its management continues to deal with an activist investor and announce new board changes.
35 out of the 933 hedge funds part of Insider Monkey’s Q4 2023 database had bought and owned Elanco Animal Health Incorporated (NYSE:ELAN)’s shares. Frederick Disanto’s Ancora Advisors was the biggest investor through its $156 million investment.
Follow Elanco Animal Health Inc (NYSE:ELAN)
Follow Elanco Animal Health Inc (NYSE:ELAN)
4. The Liberty SiriusXM Group (NASDAQ:LSXMK)
Number of Q4 2023 Hedge Fund Shareholders: 48
Latest RSI Score: 20.04
The Liberty SiriusXM Group (NASDAQ:LSXMK) is an American content broadcaster headquartered in Englewood, Colorado. As we wait for the first quarter hedge fund filings, Warren Buffett’s Berkshire Hathaway is busy buying the stock as it bought more than 800,000 The Liberty SiriusXM Group (NASDAQ:LSXMA) shares in April 2024.
During last year’s fourth quarter, 48 out of the 933 hedge funds covered by Insider Monkey’s research had invested in the firm. The Liberty SiriusXM Group (NASDAQ:LSXMK)’s largest shareholder in our database is Warren Buffett’s Berkshire Hathaway through its $1.2 billion stake.
Follow Liberty Media Corp (NASDAQ:LSXMA)
Follow Liberty Media Corp (NASDAQ:LSXMA)
3. PowerSchool Holdings, Inc. (NYSE:PWSC)
Number of Q4 2023 Hedge Fund Shareholders: 9
Latest RSI Score: 18.64
PowerSchool Holdings, Inc. (NYSE:PWSC) is a software company that deals primarily with meeting the needs of schools. Its shares are rated Strong Buy on average, and the average analyst share price target is $27.83.
By December 2023 end, nine out of the 933 hedge funds surveyed by Insider Monkey were PowerSchool Holdings, Inc. (NYSE:PWSC) shareholders. Robert Smith’s Vista Equity Partners owned the biggest stake which was worth $1.6 billion.
Follow Powerschool Holdings Inc.
Follow Powerschool Holdings Inc.
2. McGrath RentCorp (NASDAQ:MGRC)
Number of Q4 2023 Hedge Fund Shareholders: 16
Latest RSI Score: 17.97
McGrath RentCorp (NASDAQ:MGRC) is a rental company that provides storage, electronics, and other items to businesses only. The firm is currently being bought for a $3.8 billion price tag by WillScot Mobile and the deal is expected to close by Q2 2024 end.
Two quarters prior, 16 out of the 933 hedge funds covered by Insider Monkey’s survey had invested in the firm. McGrath RentCorp (NASDAQ:MGRC)’s largest hedge fund investor is Richard Driehaus’s Driehaus Capital due to its $17.6 million investment.
Follow Mcgrath Rentcorp (NASDAQ:MGRC)
Follow Mcgrath Rentcorp (NASDAQ:MGRC)
1. VinFast Auto Ltd. (NASDAQ:VFS)
Number of Q4 2023 Hedge Fund Shareholders: 7
Latest RSI Score: 14.64
VinFast Auto Ltd. (NASDAQ:VFS) is a Vietnamese firm that makes and sells electric scooters. The shares tanked a whopping 30% in April 2024 after a disastrous first quarter report posted gross and operating losses alongside limited cash that indicated a capital raise might be necessary to ensure that VinFast Auto Ltd. (NASDAQ:VFS) remains operational.
Seven out of the 933 hedge funds surveyed by Insider Monkey were VinFast Auto Ltd. (NASDAQ:VFS)’s shareholders during Q4 2023, making it the least favored stock among hedge funds on our list.
Follow Vinfast Auto Ltd.
Follow Vinfast Auto Ltd.
Disclosure: None. You can also take a look at the 19 Best Alternatives to Discord in 2024 and Top 15 Cities Where Gen Z is Moving in the US.
Insider Monkey focuses on uncovering the best investment ideas of hedge funds and investors. Please subscribe to our daily free newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.
