5 Stocks Getting Attention of Elite Hedge Funds

In this article, we discuss the 5 stocks getting the attention of elite hedge funds. If you want to read our detailed analysis of these stocks, go directly to the 10 Stocks Getting Attention of Elite Hedge Funds.

5. XPO Logistics, Inc. (NYSE: XPO)

Number of Hedge Fund Holders: 57    

XPO Logistics, Inc. (NYSE: XPO) is ranked fifth on our list of 10 stocks getting the attention of elite hedge funds. The firm provides supply chain solutions and operates from Connecticut. 

On August 12, investment advisory Morgan Stanley initiated coverage of XPO Logistics, Inc. (NYSE: XPO) stock with an Equal Weight rating and a price target of $75, noting it may be a while before the market realizes the true value of the company. 

Out of the hedge funds being tracked by Insider Monkey, Bermuda-based investment firm Orbis Investment Management is a leading shareholder in XPO Logistics, Inc. (NYSE: XPO) with 11 million shares worth more than $1.5 billion. 

In its Q4 2020 investor letter, Adestella Investment Management, an asset management firm, highlighted a few stocks and XPO Logistics, Inc. (NYSE: XPO) was one of them. Here is what the fund said:

“XPO Logistics (XPO) – the XPO thesis was very simple, but it proved very successful. As the stock irrationally sold off in the spring and made only a tepid recovery in the following months, we were able to buy into a well-operated business with plenty of growth drivers at a compelling price. Sentiment surrounding the company improved thanks to a strong earnings, the resumption of asset sale plans that had been shelved in the spring, and the announcement of a spinoff to unlock the SOTP value. As the stock approached our estimate of a $115 fair value, we exited with more than a clean double from our cost basis.”