5 Stock Picks of Rishi Bajaj’s Altai Capital

3. Sunlight Financial Holdings Inc. (NYSE:SUNL)

Altai Capital’s Stake Value: $1,893,000
Percentage of Altai Capital’s 13F Portfolio: 0.83%
Number of Hedge Fund Holders: 17

Sunlight Financial Holdings Inc. (NYSE:SUNL) is a technology-based point-of-sale lending company. Third-party lenders use Sunlight Financial Holdings Inc. (NYSE:SUNL)’s platform to provide homeowners with secured and unsecured loans for the purchase and installation of solar energy systems and other home improvements.

Citi analyst Arren Cyganovich decreased his price objective on Sunlight Financial Holdings Inc. (NYSE:SUNL) to $6 from $10 on April 10 and maintained a Buy recommendation on the stock. The analyst noted a move in his valuation to adjusted price-to-earnings vs. adjusted EBITDA, signaling that Sunlight Financial Holdings Inc. (NYSE:SUNL) will trade more like a thriving consumer finance company than a higher fledgling fintech multiple.

Altai Capital owned 396,000 Sunlight Financial Holdings Inc. (NYSE:SUNL) shares in its fourth quarter 2021 investment portfolio. These were worth $1.89 million, representing 0.83% of the portfolio. Sunlight Financial Holdings Inc. (NYSE:SUNL) was in 17 hedge funds portfolios at the end of the fourth quarter of 2021. There were 20 hedge funds in our database with Sunlight Financial Holdings Inc. (NYSE:SUNL) holdings at the end of the previous quarter.