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Investing for 2022? 2 dirt-cheap UK shares I’d buy today

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I’m searching for the best cheap UK shares to buy for 2022. Here are a couple of brilliant bargains I’m considering buying today.

Screen idol

Investor interest in Cineworld is dwindling rapidly as concerns over the cinema operator’s hulking great debt pile — and what this could mean if rising Covid-19 cases mean it’s forced to close its doors again — gain traction.

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This is perhaps a shame as box office data shows movielovers all over the world are returning to theatres in their droves.

I still think investing in this part of the leisure sector could be a good idea. Pleasingly, Everyman Media Group (LSE: EMAN) gives me the option to do this without having to worry about a debt-heavy balance sheet. Trading here has indeed remained extremely robust.

Everyman has hiked its full-year profit expectations, thanks to forecast-beating admissions. Encouragingly, the cinema giant has said that “the appetite for cinema remains strong” for next year, based on early indications.

I also prefer Everyman over Cineworld because it offers an experience that the mainstream cinema operators don’t. Its sites allow guests to grab a drink at a bar and sit down for a bite to eat before or after the showing starts.

Its film slate is also filled with independent and niche movies and shows in addition to the ticket-shifting blockbusters offered up by Hollywood. This makes it appeal to a wider audience than Cineworld, Odeon et al.

That’s not to say buying Everyman doesn’t come without risk, of course. The business isn’t expected to move back into profit until 2023, at the earliest. And that’s assuming that further Covid-19 lockdowns can be avoided.

Fresh waves of coronavirus cases could therefore have a serious effect on shareholder morale and cause Everyman’s share price to sink again. The cinema chain currently trades at 145p per share.

Business is revving up!

The severe supply problems that’s affecting new car production doesn’t seem to be going away. According to the Society of Motor Manufacturers and Traders, new auto sales in Britain fell to their lowest for 30 years in October.

Many in the industry are now expecting the semiconductor shortages that are causing stock shortages to last into 2022 too.

This bodes extremely well for used-car retailers like Motorpoint Group (LSE: MOTR). Used-car values are going through the roof as people trade down to pre-owned vehicles, due to said shortages. This saw market revenues rocket 56.1% year-on-year between April and September, data this week showed.

The result was also helped by strong demand following last year’s Covid-19 lockdowns and encouragingly market share grabs.

But I am concerned by how a slowing UK economy could impact demand for Motorpoint’s big-ticket items in 2022. Still, this is a risk I believe is baked in at current prices of 349p.

Analysts think the retailer will enjoy an 85% increase in annual earnings in the current fiscal year (to March 2022). This means the business trades on a forward price-to-earnings growth (PEG) ratio of just 0.3.

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Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has recommended Motorpoint. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

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