Billionaire David Tepper is Dumping These 5 Stocks

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1. T-Mobile US, Inc. (NASDAQ:TMUS)

Number of Hedge Fund Holders: 91

T-Mobile US, Inc. (NASDAQ:TMUS) provides mobile communications services in the United States, Puerto Rico, and the Virgin Islands. David Tepper has held a position in T-Mobile US, Inc. (NASDAQ:TMUS) since Q4 2017. The billionaire owned 1.2 million shares of T-Mobile US, Inc. (NASDAQ:TMUS) in Q4 2021, worth $148 million, representing 3.8% of the total 13F portfolio. He disposed of his T-Mobile US, Inc. (NASDAQ:TMUS) stake in Q1 2022. 

On July 28, Cowen analyst Paul Gallant raised the price target on T-Mobile US, Inc. (NASDAQ:TMUS) to $187 from $179 and maintained an Outperform rating on the shares. The analyst said that T-Mobile US, Inc. (NASDAQ:TMUS) reported robust Q2 results and lifted 2022 guidance. He noted that the beat and raise further supports his view that the company is best positioned in the sector from both a micro and macro standpoint.

According to Insider Monkey’s data, 91 hedge funds were bullish on T-Mobile US, Inc. (NASDAQ:TMUS) at the end of Q1 2022, up from 86 funds in the last quarter. Andreas Halvorsen’s Viking Global is the leading shareholder of the company, with 13.4 million shares worth $1.72 billion. 

Here is what ClearBridge Investments Sustainability Leaders Strategy has to say about T-Mobile US, Inc. (NYSE:TMUS) in its Q4 2021 investor letter:

“As mentioned, the communication services sector has come under some pressure, and irrational pricing competition has negatively impacted wireless industry growth and profitability of late, weighing on T-Mobile. Faced with these headwinds, and with pressure from other wireless carriers and cable companies that could cause the company to cede share in subscriber growth in 2022, we exited our position in the fourth quarter.”

You can also take a look at 10 Stocks to Buy Now According to David Einhorn’s Greenlight Capital and 7 Energy Stocks to Buy Now According to Billionaire Leon Cooperman

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