Hedge funds displayed notable interest in specific stocks during Q1 2023, with several investments flying under the radar. Notably, ride-hailing company Uber is highlighted as an attractive bet, having shown a 103% gain over two years but trading at a low valuation of 14.7 times its trailing P/E. Alongside Uber, other stocks such as EL and YETI are mentioned as intriguing value picks. Observing hedge fund investments can provide insights into where potential value may reside in a turbulent market.
...shares still don't look anything close to expensive. They look dirt-cheap, with shares currently trading at 14.7 times trailing price-to-earnings (P/E).
Following the smart money into these fresh value picks could be a smart move in the second half.
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