Israel Englander (Photo by OpalesqueTV)
In this uncertain market environment, the educated investor would do well to look for any signal to indicate stock buying options.
Among the legendary investors on Wall Street that everyone has their eyes on, is Israel “Izzy” Englander, the chairman and CEO of Millennium, the hedge fund he founded in 1989. The $35 million that the fund started with has turned over the years into $58 billion in assets under management. Englander himself is currently worth about 11 billion.
for our purposes. Englander has been busy with some big buys lately, and the TipRanks database has tracked two of his latest acquisitions.
Gular L.N.G. (GLNG)
The first stock supported by Englander is Golar LNG, a company that provides liquefied gas transportation services. Golar plans, builds, owns and supervises marine infrastructure that converts natural gas to LNG and LNG back to natural gas.
However, it wasn’t all plain sailing recently when the company delivered a mixed Q4 2022 report. Revenue fell 48.6% year-over-year to $59.14 million, while also coming in $8.74 million below expectations. On the other hand, fourth quarter net income of $71 million came in well above the $8 million generated in the same period a year ago, while adjusted EBITDA of $87 million compared to the $56 million reported in the fourth quarter.
Englander must think that the advantages here far outweigh the disadvantages. In the first quarter he bought 1,974,028 shares, and now he owns 5,216,087 in total. His current share of ownership in the company stands at 4.9% and amounts to over 110 million dollars.
More in-
And he is not the only one who is optimistic about her. Other analysts are no less enthusiastic; Based on buys alone – 7, in total – the stock claims a consensus rating of Strong Buy. The average target is $34.64 and implies a 63% upside from current levels.
And from a completely different field: Evolus is a company with excellent performance in the aesthetics market. The company has been delivering consistent year-over-year growth for some time, a trend that continued in the last reported quarter, the fourth quarter of 2022.
The company’s revenues reached a record of 43.65 million dollars, reflecting a 26% increase from year to year. However, Q4 EPS of -$0.23 missed the forecast of -$0.21. For the full year of 2022, revenue totaled $148.6 million, up 49% from the previous year. Looking ahead to 2023, the company anticipates revenue growth between 21% and 28%, expecting revenues of between $180 million and $190 million, which is more than double the expected growth rate of the aesthetic neurotoxin market.
Englander stepped in with a purchase of 1,871,407 shares in the first quarter and now owns a total of 3,328,597 shares. His current share of ownership in the company stands at 5.9%, and is valued at $27.63 million.
EOLS also receives strong support from analysts; With one exception, all 6 recent analyst reviews are positive, making the consensus view here a strong buy. Moreover, the mean target is an optimistic target; At $17.14, the figure indicates growth of ~105% over the coming year.
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