1. Ford Motor Company (NYSE:F)
Number of Hedge Fund Holders: 51
Real-Time Share Price as of December 12: $21.45
Ford Motor Company (NYSE:F) makes and sells automotives. In early December, the company reported sales numbers for November, revealing 5.5% year-on-year sales growth in the US with EV sales growing at over 150%, more than three times the average for the overall EV market.
Ford Motor Company (NYSE:F) stock has rallied in recent weeks after the firm announced plans to be the second-largest electric vehicle producer within two years. The company plans to hit annual production capacity of 600,000 units to achieve that goal.
At the end of the third quarter of 2021, 51 hedge funds in the database of Insider Monkey held stakes worth $1.6 billion in Ford Motor Company (NYSE:F), compared to 55 in the preceding quarter worth $2.1 billion.
In its Q1 2020 investor letter, Greenlight Capital Fund, an asset management firm, highlighted a few stocks and Ford Motor Company (NYSE:F) was one of them. Here is what the fund said:
“General Motors (GM) was a disappointment. The damage from last year’s strike consumed most of the cash flow GM would have otherwise generated in 2019. We had expected a strong bounce back in earnings and cash flow in 2020, but the annual guidance, while meeting Wall Street expectations, was worse than we expected. Further, the cash burned during the strike needed to be re-earned in order to protect GM’s investment grade rating. Pre-crisis, there would have been, at best, a minimal share repurchase late in the year. At the analyst day, our hopes that 2020 would finally be the year were dashed. We sold our stock. Over our five-year holding period, we made a 9.6% IRR on GM. In the difficult environment, its most comparable peer, Ford, lost about half its value.”
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