5 Stocks to Buy Under $50 According to Brian Higgins’ King Street Capital

In this article, we will take a look at the 5 stocks to buy under $50 according to Brian Higgins’ King Street Capital. You can see our detailed analysis of Higgins’ history, investment philosophy, and hedge fund performance, at 10 Stocks to Buy Under $50 According to Brian Higgins’ King Street Capital.

5. Arch Capital Group Ltd. (NASDAQ:ACGL)

Higgins’ Stake Value: $48.2 million

Percentage of Brian Higgins’ 13F Portfolio: 3.96%

Number of Hedge Fund Holders: 22

Stock Price as of October 6: $40.54

Arch Capital Group Ltd. (NASDAQ:ACGL), through its subsidiaries, provides insurance, additional coverage, and lease insurance products globally. Founded in 1995, the Bermuda-based company ranks fourth on our list of 10 stocks to buy  under $50 according to Brian Higgins’ King Street Capital.

On July 28, Arch Capital Group Ltd. (NASDAQ: ACGL) announced its second quarter 2021 revenue of $2.40 billion, beating the estimates by $450.15 million. The company also declared its earnings per share of $1.00, beating the market predictions by $0.16.

King Street Capital holds 1.24 million shares in the firm worth $48.2 million, representing 3.96% of the funds investment portfolio. At the end of the second quarter of 2021, 22 hedge funds in the database of Insider Monkey held stakes worth $1.43 billion in Arch Capital Group Ltd. (NASDAQ:ACGL). This is compared to 34 hedge funds in the preceding quarter with stakes worth roughly $1.67 billion.

On August 16, Wolfe Research analyst Michael Zaremski began coverage of Arch Capital Group Ltd. (NASDAQ:ACGL) with an Outperform rating and $51 price target.