NEW YORK (TheStreet) -- Prominent activist investors are making noise again. It might be worth following them in their latest investments.Activist investors, who take stakes in companies and shake up management or change strategies to wring out investment gains, have been busy doing their homework on undervalued stocks. With keen eyes for companies with turnaround potential, Carl Icahn and Daniel Loeb have found the latest targets. On the other hand, David Einhorn knows when to take the other side of the bet on an overvalued stock and has made a short position in his latest victim. This flurry of activity could be a sign for a new investment opportunities. Given the solid track records of these famous investors for getting the value that they want out of a company, it's worth taking a look at these stocks.