7. CEMEX, S.A.B. de C.V. (NYSE:CX)
Number of Hedge Fund Holders: 23
A vertically integrated global heavy building materials firm with its headquarters in Mexico is CEMEX, S.A.B. de C.V. (NYSE:CX). The business offers solutions for urbanization as well as aggregates, cement, and ready-mix concrete in more than 100 nations throughout the world.
23 hedge funds had a collective stake in CEMEX, S.A.B. de C.V. of $601.78 million, according to Insider Monkey (NYSE:CX). This is equivalent to 5.5% of the market capitalisation of the firm.
The COVID-19 pandemic-related lockdowns have caused some economies to reopen, which has given the corporation a positive outlook. Given that the government is investing heavily in infrastructure as a means of stimulating the economy, the forecast for the US construction sector is positive.
On October 11, Citi’s Andres Cardona raised Cemex SAB de CV (ADR) (NYSE:CX) from Neutral to Buy with a $9.30 price objective, adding that the stock’s 27% decline offers investors the opportunity to “become buyers once again.”
6. DiDi Global Inc. (NYSE:DIDI)
Number of Hedge Fund Holders: 46
DiDi Global Inc. (NYSE:DIDI) is a popular ride-hailing company, holding a major chunk of market share of the industry in China.
As of the second quarter of 2021, 46 hedge funds tracked by Insider Monkey reported owning stakes in DiDi Global Inc. (NYSE:DIDI). The total value of the holding is nearly $925 million.
DiDi Global Inc.’s (NYSE:DIDI) revenue increased by 106% YoY to 42.2 billion yuan ($6.6 billion) in the first quarter of 2021. DiDi Global Inc. (NYSE:DIDI) reported having 493 million annual active users at the conclusion of the first quarter.
