5 Stocks to Invest In Now According to Viraj Mehta’s Arctis Global

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In this article, we discuss 5 stocks to invest in now according to Viraj Mehta’s Arctis Global. If you want to read our detailed analysis of Mehta’s history, investment philosophy, and hedge fund performance, go directly to 10 Stocks to Invest In Now According to Viraj Mehta’s Arctis Global.

5. Popular, Inc. (NASDAQ:BPOP)

Arctis Global’s Stake Value: $21,394,000
Percentage of Arctis Global’s 13F Portfolio: 8.01%
Number of Hedge Fund Holders: 35

Popular, Inc. (NASDAQ:BPOP) is a holding corporation. The company is in the banking and financial services business. Popular, Inc. (NASDAQ:BPOP) reported financial results for Q1 2022 on April 26, posting earnings per share of $2.69, beating estimates by $0.39. The $649 million revenue grew 2.6% year-over-year, beating analysts’ predictions by roughly $1.84 million.

Hedge funds are loading up on Popular, Inc. (NASDAQ:BPOP), as Insider Monkey’s data shows that 35 hedge funds held stake in the company as of the end of the fourth quarter, compared to 33 funds at the end of the preceding quarter. Bernard Horn’s Polaris Capital Management is a significant shareholder of Popular, Inc. (NASDAQ:BPOP), with 3.35 million shares worth $274.59 million.

In the fourth quarter, Arctis Global cut its stake in Popular, Inc. (NASDAQ:BPOP) by 153,745 shares, reducing its total stake size by 38%. However, the hedge fund held 260,772 shares of Popular, Inc. (NASDAQ:BPOP), worth more than $21.39 million. On April 12, Keefe Bruyette analyst Kelly Motta reiterated an Outperform rating on Popular, Inc. (NASDAQ:BPOP) and a price target of $115.