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Five Cheap Stocks Billionaires Are Bullish On

#3 Office Depot Inc (NASDAQ:ODP)

– Billionaires with Long Positions (as of March 31): 7

– Value of Billionaires’ Holdings (as of March 31): $269.50 million

Shares of Office Depot Inc (NASDAQ:ODP) fell to a new 52-week low in mid-May after the company terminated its merger with Staples. In this way, year-to-date, the stock is down by more than 35%. For the second quarter, Office Depot reported EPS of $0.03, lower than the expected $0.06, while revenue of $3.22 billion declined by 6.4% on the year and topped the consensus estimate by some $20 million. The company also reported a 7% annual decline in sales in its North American Retail Division and a 1% decline in same-store sales, while international division sales declined by 4% to $600 million. The number of billionaire investors bullish on the company rose by two during the March quarter.

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#2 Hertz Global Holdings Inc (NYSE:HTZ)

– Billionaires with Long Positions (as of March 31): 7

– Value of Billionaires’ Holdings (as of March 31): $1.11 billion

Hertz’s stock has slid by more than 19% since the beginning of the year amid a continuous decline in revenue reported for the past several quarters. At the beginning of July, Hertz completed the spin-off of its equipment-rental business into Herc Holdings. For the second quarter, Hertz posted a loss of $0.33 per share, adjusted for the separation of the equipment-rental business, while revenue slid by 2% on the year to $2.27 billion. On the other hand, analysts had expected an adjusted profit of $0.31 and revenue of $2.27 billion.

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#1 Staples, Inc. (NASDAQ:SPLS)

– Billionaires with Long Positions (as of March 31): 8

– Value of Billionaires’ Holdings (as of March 31): $347.66 million

The number of billionaires’ funds from our database bullish on Staples fell by two during the first quarter. The failed merger with Office Depot also hurt Staples, Inc. (NASDAQ:SPLS), but strong gains in the first four months of the year offset the decline and the stock is trading just 2.96% in the red year-to-date. In June, Staples launched same-day delivery in large metropolitan areas, which should strenghten its position in eCommerce, which should help it boost sales during the back-to-school season that is about to end.

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Disclosure: None

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