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The following is a list of undervalued stocks, when comparing Monday's close to the average analyst target price (i.e. discount to analyst fair value). All of these stocks have market caps north of $1.0B, and have seen significant institutional inflows over the last 3 months.

The smart money seems to think these stocks are undervalued. What do you think? Institutional data sourced from Reuters.com, and analyst target prices sourced from Zacks Investment Research.



The list has been sorted by the increase in institutional ownership.

1. Popular Inc. (NASDAQ:BPOP): Market cap of $1.6B. Last close at $2.53, vs. avg. target price of $4.57 (implies a discount of -44.64% to analyst fair value, based on a survey of 7 analysts). Institutional investors currently own 739,861,848 shares vs. 308,786,491 shares held 3 months ago (+139.6% change).

2. Fortress Investment Group LLC (NYSE:FIG): Market cap of $1.5B. Last close at $3.17, vs. avg. target price of $6.50 (implies a discount of -51.23% to analyst fair value, based on a survey of 6 analysts). Institutional investors currently own 42,899,849 shares vs. 33,894,291 shares held 3 months ago (+26.57% change).

3. Micron Technology Inc (NASDAQ:MU): Market cap of $6.5B. Last close at $6.54, vs. avg. target price of $14.26 (implies a discount of -54.14% to analyst fair value, based on a survey of 20 analysts). Institutional investors currently own 925,825,896 shares vs. 796,483,713 shares held 3 months ago (+16.24% change).

4. DryShips Inc (NASDAQ:DRYS): Market cap of $1.1B. Last close at $4.03, vs. avg. target price of $7.20 (implies a discount of -44.03% to analyst fair value, based on a survey of 8 analysts). Institutional investors currently own 61,189,843 shares vs. 54,233,054 shares held 3 months ago (+12.83% change).

5. NuVasive Inc (NASDAQ:NUVA): Market cap of $1.2B. Last close at $29.49, vs. avg. target price of $47.67 (implies a discount of -38.14% to analyst fair value, based on a survey of 21 analysts). Institutional investors currently own 51,573,296 shares vs. 46,858,615 shares held 3 months ago (+10.06% change).

6. China Real Estate Information Corp (NASDAQ:CRIC): Market cap of $1.2B. Last close at $8.20, vs. avg. target price of $14.00 (implies a discount of -41.43% to analyst fair value, based on a survey of 2 analysts). Institutional investors currently own 17,487,627 shares vs. 15,958,830 shares held 3 months ago (+9.58% change).

7. Live Nation Entertainment Inc (NYSE:LYV): Market cap of $1.5B. Last close at $8.6, vs. avg. target price of $15 (implies a discount of -42.67% to analyst fair value, based on a survey of 2 analysts). Institutional investors currently own 152,656,741 shares vs. 140,742,810 shares held 3 months ago (+8.47% change).

8. ITT Educational Services Inc (NYSE:ESI): Market cap of $1.9B. Last close at $54.64, vs. avg. target price of $103.45 (implies a discount of -47.18% to analyst fair value, based on a survey of 17 analysts). Institutional investors currently own 42,820,217 shares vs. 40,057,766 shares held 3 months ago (+6.9% change).

9. Dendreon Corp (NASDAQ:DNDN): Market cap of $4.8B. Last close at $35.69, vs. avg. target price of $57.6 (implies a discount of -38.04% to analyst fair value, based on a survey of 14 analysts). Institutional investors currently own 92,181,291 shares vs. 87,473,659 shares held 3 months ago (+5.38% change).

10. Blackstone Group LP (NYSE:BX): Market cap of $2.4B. Last close at $10.02, vs. avg. target price of $16.13 (implies a discount of -37.88% to analyst fair value, based on a survey of 9 analysts). Institutional investors currently own 94,095,434 shares vs. 89,326,157 shares held 3 months ago (+5.34% change).

11. International Paper Co (NYSE:IP): Market cap of $8.7B. Last close at $19.97, vs. avg. target price of $34.67 (implies a discount of -42.4% to analyst fair value, based on a survey of 13 analysts). Institutional investors currently own 371,792,850 shares vs. 355,574,861 shares held 3 months ago (+4.56% change).

12. Brunswick Corp (NYSE:BC): Market cap of $1.1B. Last close at $12.98, vs. avg. target price of $21 (implies a discount of -38.19% to analyst fair value, based on a survey of 5 analysts). Institutional investors currently own 103,993,112 shares vs. 99,531,198 shares held 3 months ago (+4.48% change).

13. Skechers USA Inc (NYSE:SKX): Market cap of $1.2B. Last close at $25.66, vs. avg. target price of $52 (implies a discount of -50.65% to analyst fair value, based on a survey of 6 analysts). Institutional investors currently own 34,807,921 shares vs. 33,372,048 shares held 3 months ago (+4.3% change).

14. InterOil Corp (NYSE:IOC): Market cap of $2.4B. Last close at $56.86, vs. avg. target price of $100 (implies a discount of -43.14% to analyst fair value, based on a survey of 3 analysts). Institutional investors currently own 20,396,265 shares vs. 19,573,771 shares held 3 months ago (+4.2% change).

15. Atwood Oceanics Inc (NYSE:ATW): Market cap of $1.6B. Last close at $25.18, vs. avg. target price of $40.88 (implies a discount of -38.41% to analyst fair value, based on a survey of 11 analysts). Institutional investors currently own 54,925,226 shares vs. 53,111,508 shares held 3 months ago (+3.41% change).

16. Atlas Energy Inc (NYSE:ATLS): Market cap of $2.1B. Last close at $27.13, vs. avg. target price of $45.25 (implies a discount of -40.04% to analyst fair value, based on a survey of 9 analysts). Institutional investors currently own 69,092,407 shares vs. 67,199,106 shares held 3 months ago (+2.82% change).

17. Veeco Instruments Inc (NASDAQ:VECO): Market cap of $1.4B. Last close at $34.06, vs. avg. target price of $57.1 (implies a discount of -40.35% to analyst fair value, based on a survey of 12 analysts). Institutional investors currently own 44,621,438 shares vs. 43,503,763 shares held 3 months ago (+2.57% change).

18. Thor Industries Inc (NYSE:THO): Market cap of $1.2B. Last close at $23.45, vs. avg. target price of $39.33 (implies a discount of -40.38% to analyst fair value, based on a survey of 5 analysts). Institutional investors currently own 38,363,824 shares vs. 37,412,078 shares held 3 months ago (+2.54% change).

19. ON Semiconductor Corp (NASDAQ:ONNN): Market cap of $2.7B. Last close at $6.31, vs. avg. target price of $10.86 (implies a discount of -41.9% to analyst fair value, based on a survey of 21 analysts). Institutional investors currently own 399,064,078 shares vs. 389,591,081 shares held 3 months ago (+2.43% change).

20. Atlas Air Worldwide Holdings Inc (NASDAQ:AAWW): Market cap of $1.1B. Last close at $43.8, vs. avg. target price of $72.5 (implies a discount of -39.59% to analyst fair value, based on a survey of 7 analysts). Institutional investors currently own 27,864,016 shares vs. 27,208,856 shares held 3 months ago (+2.41% change).

Disclosure: No positions

Source: 20 Most Undervalued Stocks Being Chased by the Smart Money