5 Stocks to Buy According to Cheyne Capital

Page 1 of 5

In this article, we discuss 5 stocks to buy according to Cheyne Capital. If you want to check out a detailed analysis of the fund’s investment philosophy and current portfolio allocation strategies, go directly to 10 Stocks to Buy According to Cheyne Capital.

5. Switch, Inc. (NYSE:SWCH)

Cheyne Capital’s Stake Value: $4,389,000
Percentage of Cheyne Capital’s 13F Portfolio: 3.7%
Number of Hedge Fund Holders: 14

Switch, Inc. (NYSE:SWCH) provides technical infrastructure. The company declared financial results on August 8 for the three months ending June 30, 2022. Switch, Inc. (NYSE:SWCH) announced consolidated revenue of $168.2 million, a 19% increase over the second quarter of 2021. In addition, the reported EPS came in at $0.02, below the analysts’ estimate by $0.04.

On May 24, Nate Crossett of Berenberg downgraded Switch, Inc. (NYSE:SWCH) from ‘Buy’ to ‘Hold’ with a $34.25 price objective after the firm reached an agreement to be bought by Australian investment fund IFM and DigitalBridge Group, Inc. (NYSE:DBRG) for $34.25 per share.

According to the 13F filings for the second quarter of 2022, Cheyne Capital held 131,000 shares of Switch, Inc. (NYSE:SWCH), amounting to more than $4.39 million. The company represented 3.7% of the hedge fund’s 13F portfolio. Pentwater Capital Management held the most prominent stake in Switch, Inc. (NYSE:SWCH), with 6.53 million shares worth $218.59 million.



Page 1 of 5