Billionaire Leon Cooperman Is Buying These 5 Stocks

In this article, we discuss the 5 stocks that billionaire Leon Cooperman is buying. If you want to read our detailed analysis of these stocks, go directly to Billionaire Leon Cooperman Is Buying These 10 Stocks.

5. General Motors Company (NYSE:GM)

Number of Hedge Fund Holders: 86 

Percentage Increase in Stake During Q3: 31%

General Motors Company (NYSE:GM) makes and sells automobiles. Regulatory filings show that Omega Advisors owned 490,000 shares in the company at the end of the third quarter of 2021 worth over $25 million, representing 1.36% of the portfolio. 

Wedbush analyst Daniel Ives recently kept an Outperform rating on General Motors Company (NYSE:GM) stock with a price target of $85, noting that a bull case scenario for the firm could result in the share price going up to $100 in the next year or so. 

Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Harris Associates is a leading shareholder in General Motors Company (NYSE:GM) with 34 million shares worth more than $2 billion. 

Junto Investments, in its Q4 2020 investor letter, mentioned General Motors Company (NYSE:GM). Here is what the fund has to say about General Motors Company in its letter:

“General Motors was the biggest gainer. We managed to buy it at a screamingly cheap price in the middle of March. A lot of interesting news has emerged about GM recently, including the new electric product delivery system BrightDrop and GM Cruise’s team-up with Microsoft Azure to commercialize self-driving cars in 2021. GM’s intrinsic value is crystallizing and the company is worth a whole lot more than is still reflected in the market.”