Yelp Inc (NYSE:YELP) and Mastec, Inc. (NYSE:MTZ) were named by Wunderlich Securities Chief Market Strategist Art Hogan as among his best stock ideas at the moment in an interview with CNBC.
The CNBC hosts asked the Wunderlich representative why they picked Yelp Inc (NYSE:YELP) out of all the other companies in the social media space. According to Hogan, Yelp Inc (NYSE:YELP) was chosen because his firm wanted exposure to social media but with a company that now has a reasonable valuation.
Hogan also said that though they could have picked another social media company for their focus list, a couple of companies they were looking at did not get Buy ratings from them. Furthermore, he considers Yelp Inc (NYSE:YELP) as having the potential to bring change in the social media industry.
As for Mastec, Inc. (NYSE:MTZ), Hogan was asked whether the stock, which was down 12% during the interview, is a great entry for investors who have not heard about the stock or the company’s story. CNBC reported that the company has just had a guidance warning that earnings is not as high as expected.
The strategist said, however, that they think that this miss is just a pushout. Moreover, what is interesting about Mastec, Inc. (NYSE:MTZ), he noted, is that the company said that they missed earnings because they could not hire enough people to do the jobs they have at the moment. He said that the miss is due to the company’s backlog.
It was also pointed out in the discussion that Mastec, Inc. (NYSE:MTZ) is in the infrastructure side and that it has contracts with telecommunications companies. Hogan also noted that the company builds infrastructure for the energy industry and the power transmission industry. According to Hogan, he thinks the stock is “amazingly priced now”.
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Among the shareholders of Yelp Inc (NYSE:YELP) is Donald Chiboucis‘ Columbus Circle Investors, which owns 2.16 million shares, with an aggregate value of $166.36 million, according to its latest 13F filing. While Columbus has upped its stake by 7% over the quarter, Philippe Laffont‘s Coatue Management seems to be more confident about the company, raising its holding by over 850% on the quarter to some 990,100 shares.
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