Billionaire David Tepper’s 5 Newest Stock Picks

3. The Beachbody Company, Inc. (NYSE:BODY)

Appaloosa Management LP’s Stake Value: $20,800,000
Percent of Appaloosa Management LP’s 13F Portfolio: 0.43%
Number of Hedge Fund Holders: 13

The Beachbody Company, Inc. (NYSE:BODY) is an American fitness and media company that also specializes in community-based in-home fitness. The company stands third on our list of billionaire David Tepper’s newest stock picks. 

In Q2 2021, Appaloosa Management bought 2 million shares in The Beachbody Company, Inc. (NYSE:BODY), valued at $20.8 million. The company currently accounts for 0.43% of the hedge fund’s 13F portfolio. In Q2 2021, The Beachbody Company, Inc. (NYSE:BODY) reported revenue of $223.1 million, up 2.2% from the prior-year quarter. This July, Guggenheim initiated its coverage of The Beachbody Company, Inc. (NYSE:BODY) with a ‘Buy’ rating and a $15 price target. 

As of Q2 2021, 13 hedge funds tracked by Insider Monkey have positions in The Beachbody Company, Inc. (NYSE:BODY), worth $72.4 million. The company did not have any hedge fund positions in the previous quarter.