Marc Lasry’s Avenue Capital Portfolio: Top 2 Stock Picks

In this article, we will be looking at the top 2 stock picks of Marc Lasry’s Avenue Capital. If you want to see our comprehensive analysis of Lasry’s history, investment philosophy, and hedge fund performance, go directly to Marc Lasry’s Avenue Capital Portfolio: Top Stock Picks

2. Amplify Energy Corp. (NYSE:AMPY)

Avenue Capital’s Stake Value: $13.62 million

Percentage of Avenue Capital’s 13F Portfolio: 8.42%

Number of Hedge Fund Holders: 15

Houston-based oil company Amplify Energy Corp. (NYSE:AMPY) is a top pick of Marc Lasry’s Avenue Capital. The firm deals in the exploration, drilling, and development of oil and natural gas properties in the United States. In the last year, Amplify Energy Corp. (NYSE:AMPY) gained 151%.

In 13F filings for the third quarter, Avenue Capital reported owning 2,561,375  shares in the company, valued at $13.62 million. The hedge fund reported owning the same number of shares in the company a quarter ago.

Investors were seen loading up on Amplify Energy Corp. (NYSE:AMPY), as 15 hedge funds tracked by Insider Monkey reported owning shares worth $24.74 million in the company. In contrast, 13 hedge funds owned $19.13 million worth of shares in the company a quarter ago.

For the third quarter, Amplify Energy Corp. (NYSE:AMPY) posted earnings per share of $0.28, which beat estimates by $0.10. The company raked in $80.39 million in revenue for the quarter, exceeding analysts’ expectations by $17.68 million.

On October 4, Roth Capital analyst John M. White downgraded the company stock to ‘Neutral’ from ‘Buy’. This update was issued after media organizations reported an oil spill of about 3000 barrels off the Southern California coast. The pipeline breach occurred under the operational management of Elly, a subsidy of Amplify Energy Corp. (NYSE:AMPY).

1. Vistra Corp. (NYSE:VST)

Avenue Capital’s Stake Value: $110.09 million

Percentage of Avenue Capital’s 13F Portfolio: 68.05%

Number of Hedge Fund Holders: 38

Vistra Corp. (NYSE:VST) is Marc Lasry’s top stock pick, representing 68.05% of his overall portfolio. Lasry’s Avenue Capital owns 6,438,245 shares in Vistra Corp. (NYSE:VST) worth $110.09 million, as of the end of the third quarter.
Vistra Corp. (NYSE:VST) is an energy company that provides electricity to consumers in the United States through its segments: Retail, Texas, East, West, Sunset, and Asset Closure.
Out of 867 elite hedge funds tracked by Insider Monkey, 38 hedge funds disclosed ownership of stakes in Vistra Corp. (NYSE:VST), as of the third quarter. This shows a bullish trend from the previous quarter where 32 hedge funds reported owning stakes in the company.
On October 13, BMO Capital analyst James Thalacker kept an ‘Outperform’ rating on Vistra Corp. (NYSE:VST) stock, revising the price target to $27 from $25.
The company reported an EPS (GAAP) of $0.01, which missed estimates by $1.67. Revenue for the quarter was $2.99 billion, which also fell below analysts’ forecasts by $1.88 billion.

You can also take a look at 10 Best Stocks To Buy Now According To Quant Billionaires and 10 Best Affordable Dividend Stocks to Buy.