5 Stocks to Buy According to Canyon Capital Advisors

In this article, we discuss 5 stocks to buy according to Canyon Capital Advisors. If you want to read our detailed analysis of Friedman and Julis’ history and hedge fund performance, go directly to 10 Stocks to Buy According to Canyon Capital Advisors.

5. Dell Technologies Inc. (NYSE:DELL)

Canyon Capital Advisors’ Stake Value: $128,292,000
Percentage of Canyon Capital Advisors’ 13F Portfolio: 4.36%
Number of Hedge Fund Holders: 62

Dell Technologies Inc. (NYSE:DELL) is a global provider of information technology solutions, products, and services that it designs, develops, produces, distributes, sells, and supports. Evercore ISI analyst Amit Daryanani upgraded Dell Technologies Inc. (NYSE:DELL) to Outperform from In-Line with a $60 price target on March 8.

Canyon Capital Advisors owns more than 2.28 million shares of Dell Technologies Inc. (NYSE:DELL) worth $128.29 million, despite selling 3.54 million shares in the fourth quarter.

A total of 62 hedge funds in the Q4 database of Insider Monkey were bullish on Dell Technologies Inc. (NYSE:DELL), up from 60 funds in the quarter earlier. Elliott Management is a prominent stakeholder of Dell Technologies Inc. (NYSE:DELL), owning a $532.71 million position in the company as of Q4 2021.

In its third-quarter investor letter, Third Point Management mentioned Dell Technologies Inc. (NYSE:DELL). Here is what the fund said:

“Michael Dell has created substantial value for shareholders since re-listing the company several years ago. Earlier this year, Dell Technologies announced that it would be spinning its $50 billion stake in VMWare, which we believe will unlock the underappreciated value of the Dell server and PC businesses. Dell’s best attribute has been strong free cash flow generation, which the company has used to de-lever and create significant latent value for equity holders. Looking ahead, we believe this core Dell business, which still trades at a discount to its hardware peer group, should instead command a premium multiple thanks to its leading market share, profitability, and impressive execution. There are few large cap companies which possess a nearly 10% FCF yield, 2.5% dividend yield and 1.5x leverage ratio; Dell is one of them.”