Today we are going to discuss billionaire Michael Price’s top 5 stock picks, based on Insider Monkey’s compilation. The 68 year-old Michael Price operates hedge fund MFP Investors, that is located in New York. The fund owns $1 billion assets. Price graduated from the University of Oklahoma in 1973, and right after he went to work for value investor Max Heine as a research assistant. Michael Price follows the strategy to purchase stocks at a low price and wait until they reach their potential value. During the latest quarter he bought several underperforming stocks from the financial sector. Now he grew his financial sector weightage to 31% of the entire portfolio.
So what are billionaire Michael Price’s favourite stock picks? Keep up reading as we have brought up with a short summarize of Insider Monkey’s compilation. CIT Group Inc. ranks fifth on Price’s list. As of the fourth quarter of 2020 His company owned 645,606 shares, which mean 3.57% of the entire portfolio. CIT group shares rocketed by 33% comparing to the beginning of the year, due to financial numbers and growing market trends. The company’s revenue was $496 million in the fourth quarter, as for year over year revenue it grew 7.6%. CIT is a well-known and popular bank, and is involved in helping personal savers, and empowering businesses to achieve their goals. CIT Group Inc is followed by Dolby Laboratories Inc. on the fourth spot. Although Price sold 44% of his position in the company, it still remained the fourth largest stock holding for the legendary billionaire. Dolby shares boosted 49% during the past year, generating 49% increase in revenue in the fourth quarter of 2020. The second quarter of 2021 is projected to bring $280-310 million in revenue. S&W Seed Company stands on the second spot. as of 2021 the company’s shares increased by 18%, consequently twelve-month gains grew to 30%. The company operates in agriculture, focusing on growing, breeding, processing and trading alfalfa and sorghum seeds. In the latest quarter the company’s stock price went up by 21.9%. If you want to gain more valuable information about billionaire Michael Price’s top 5 stock picks, please click and jump to see the entire original article.
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