Top 5 Stock Picks of Tom Purcell’s Alua Capital Management

4. CIT Group Inc. (NYSE:CIT)

Alua Capital Management Stake Value: $231.4 million

Percentage of Alua Capital Management’ 13F Portfolio: 12.05%

No. of Hedge Fund Holders: 30

CIT Group Inc. (NYSE: CIT), headquartered in New York City, is a bank holding company as well as a financial holding company. The company mainly serves middle-market enterprises in North America and provides financing, leasing, and advising services to them. It is fourth on our list of top stock picks of Tom Purcell’s Alua Capital Management.

On April 29, investment advisory Wells Fargo kept an Equal Weight rating on CIT Group Inc. (NYSE: CIT) stock and increased the price target to $54 from $38, following good quarterly results.

Our data shows that Alua Capital Management is one of the biggest stakeholders of CIT Group Inc. (NYSE: CIT) with 4.5 million shares worth $231.4 million.

At the end of the second quarter of 2021, 30 hedge funds in the database of Insider Monkey held stakes worth $751.8 million in CIT Group Inc. (NYSE: CIT), up from 28 the preceding quarter worth $802 million.