In this article, we will take a look at the 5 oversold growth stocks to buy right now. To read our analysis of the recent trends and market activity, you can go to the 11 Oversold Growth Stocks to Buy Right Now.
5. Rogers Communications Inc. (NYSE:RCI)
14-day RSI as of April 5: 22.38
Latest Trailing P/E Ratio: 31.23
Number of Hedge Fund Holders: 23
Toronto, Canada-based Rogers Communications Inc. (NYSE:RCI) is Canada’s leading wireless, cable and media company that provides connectivity and entertainment to Canadian consumers and businesses across the country.
On February 1, Rogers Communications Inc. (NYSE:RCI) released its financial results for Q4 2023. Its revenue surged by 28% y-o-y to C$5.3 billion, while net income shrunk 35% y-o-y to C$328 million. Its normalized EPS of $0.89 surpassed consensus estimates by $0.06.
According to the Insider Monkey data on more than 900 leading hedge funds, 23 hedge funds were long Rogers Communications Inc. (NYSE:RCI) shares as of Q4 2023, with the total shares held by hedge funds valued at $586 million.