Top 5 Stock Picks of Kenneth A. Moffet’s Hourglass Capital

In this article, we discuss top 5 stock picks of Kenneth A. Moffet’s Hourglass Capital. If you want to read our detailed analysis of Moffet’s history, investment philosophy, and hedge fund performance, go directly to Top 10 Stock Picks of Kenneth A. Moffet’s Hourglass Capital.

5. The Goldman Sachs Group, Inc. (NYSE:GS)

Hourglass Capital Stake Value: $8,782,000
Percentage of Hourglass Capital’s 13F Portfolio: 2.94%
Number of Hedge Fund Holders: 74

The Goldman Sachs Group, Inc. (NYSE:GS) is a company that offers various financial services to businesses, financial institutions, governments, and individuals all over the world. In the fourth quarter, Kenneth A. Moffet reduced his stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 34%, which is now worth about $8.78 million.

On January 28, Odeon Capital analyst Dick Bove downgraded The Goldman Sachs Group, Inc. (NYSE:GS) to Hold from Buy with a price objective of $350.65. According to the analyst, his downgrade was based on Federal Reserve Chairman Jay Powell’s assertion that the Fed may reduce its balance sheet size in 2022.

At the end of the third quarter of 2021, 74 hedge funds in the database of Insider Monkey held stakes totalling $5.45 billion in The Goldman Sachs Group, Inc. (NYSE:GS), up from 61 the preceding quarter worth $5.18 billion. 

In the second-quarter 2021 investor letter, Ariel Investments mentioned a few stocks, and The Goldman Sachs Group, Inc. (NYSE:GS) was one of them. Here is what the fund said: 

“Goldman Sachs Group Inc. (GS) returned +16.45%. Goldman has posted a series of excellent quarterly results. Merger and equity offering activity has been robust with trading profits bolstered by strong capital market volumes. Goldman’s asset management business has also performed well. Regulators recently moved to allow most large investment banks to return capital to shareholders through dividends and share repurchases. Fundamentally, we think Goldman Sachs is attractively priced at approximately 11 times earnings and a very reasonable multiple of book value.”