Goldman Sachs Penny Stocks: Top 5 Stock Picks

3. Banco Bradesco S.A. (NYSE:BBD)

Number of Hedge Fund Investors In Q4 2023: 16

Current Share Price: $2.83

Goldman Sachs’s Q4 2023 Investment: $56.2 million

Banco Bradesco S.A. (NYSE:BBD) is a Brazilian bank headquartered in Osasko, Brazil. Despite the fact that it’s a penny stock that trades close to $3, it is also one of the most valuable companies on our list due to a market capitalization of $30 billion. The shares tanked in February 2024 after the bank’s latest earnings report saw its R$2.8 billion net income miss analyst estimates of R$4.63 billion.

By the end of 2023’s December quarter, 16 out of the 933 hedge funds surveyed by Insider Monkey were Banco Bradesco S.A. (NYSE:BBD)’s shareholders. Howard Marks’s Oaktree Capital Management owned the largest stake which was worth $120 million.

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