Palestra Capital Management LLC Has Increased Its Comcast Corp New (CMCSA) Stake

October 2, 2018 - By Winifred Garcia

Comcast Corporation (NASDAQ:CMCSA) LogoInvestors sentiment increased to 1.07 in Q2 2018. Its up 0.08, from 0.99 in 2018Q1. It increased, as 79 investors sold CMCSA shares while 480 reduced holdings. 122 funds opened positions while 475 raised stakes. 3.60 billion shares or 1.67% less from 3.67 billion shares in 2018Q1 were reported. 894,482 are owned by Birch Hill Advsrs Lc. Johnson Counsel has invested 0.73% of its portfolio in Comcast Corporation (NASDAQ:CMCSA). 100,480 are owned by Private Wealth Prtn Ltd Co. Diker Limited Liability reported 8,606 shares. Charter Tru has 0.15% invested in Comcast Corporation (NASDAQ:CMCSA) for 37,955 shares. Century stated it has 0.01% of its portfolio in Comcast Corporation (NASDAQ:CMCSA). Altrinsic Advisors Llc has 1.75 million shares for 2.27% of their portfolio. Denali Advsrs Limited Liability Corp has 388,000 shares. Citadel Advsrs Ltd Co holds 2.49M shares or 0.04% of its portfolio. First Foundation Advisors owns 14,061 shares or 0.03% of their US portfolio. Boyar Asset Mngmt Incorporated reported 105,776 shares. Klingenstein Fields Ltd Liability Com invested 1.92% in Comcast Corporation (NASDAQ:CMCSA). Veritable Limited Partnership invested in 0.29% or 419,300 shares. Tcw Gru stated it has 1.23% in Comcast Corporation (NASDAQ:CMCSA). Exane Derivatives holds 73,308 shares or 0% of its portfolio.

Since April 17, 2018, it had 0 insider purchases, and 2 insider sales for $83,010 activity.

Palestra Capital Management Llc increased its stake in Comcast Corp New (CMCSA) by 27.6% based on its latest 2018Q2 regulatory filing with the SEC. Palestra Capital Management Llc bought 1.05 million shares as the company’s stock rose 11.66% with the market. The hedge fund held 4.85 million shares of the television services company at the end of 2018Q2, valued at $159.25 million, up from 3.80 million at the end of the previous reported quarter. Palestra Capital Management Llc who had been investing in Comcast Corp New for a number of months, seems to be bullish on the $162.75B market cap company. The stock increased 0.31% or $0.11 during the last trading session, reaching $35.52. About 20.43M shares traded or 4.74% up from the average. Comcast Corporation (NASDAQ:CMCSA) has declined 4.78% since October 2, 2017 and is downtrending. It has underperformed by 20.40% the S&P500.

Palestra Capital Management Llc, which manages about $755.46 million and $2.29 billion US Long portfolio, decreased its stake in Alphabet Inc by 29,070 shares to 61,930 shares, valued at $69.93 million in 2018Q2, according to the filing. It also reduced its holding in Ihs Markit Ltd by 256,000 shares in the quarter, leaving it with 1.84 million shares, and cut its stake in Dowdupont Inc.

More notable recent Comcast Corporation (NASDAQ:CMCSA) news were published by: Fool.com which released: “Comcast Is Helping Disney Destroy It” on September 28, 2018, also Seekingalpha.com with their article: “Will Comcast Stock Continue To Outperform The Market?” published on October 01, 2018, Seekingalpha.com published: “Fox to sell Sky stake to Comcast” on September 26, 2018. More interesting news about Comcast Corporation (NASDAQ:CMCSA) were released by: Seekingalpha.com and their article: “Comcast Outbids Fox To Win Sky – Now What?” published on September 25, 2018 as well as Seekingalpha.com‘s news article titled: “Merger Arbitrage Mondays – October 1, 2018” with publication date: October 02, 2018.

Comcast Corporation (NASDAQ:CMCSA) Ratings Coverage

Among 10 analysts covering Comcast (NASDAQ:CMCSA), 7 have Buy rating, 0 Sell and 3 Hold. Therefore 70% are positive. Comcast had 12 analyst reports since April 20, 2018 according to SRatingsIntel. The stock of Comcast Corporation (NASDAQ:CMCSA) has “Outperform” rating given on Monday, July 30 by Robert W. Baird. The stock of Comcast Corporation (NASDAQ:CMCSA) has “Overweight” rating given on Monday, August 6 by Atlantic Securities. The stock of Comcast Corporation (NASDAQ:CMCSA) has “Perform” rating given on Monday, September 24 by Oppenheimer. The stock of Comcast Corporation (NASDAQ:CMCSA) earned “Outperform” rating by Raymond James on Thursday, July 19. The rating was initiated by Jefferies with “Buy” on Thursday, June 7. Pivotal Research maintained the stock with “Buy” rating in Tuesday, June 26 report. The firm earned “Buy” rating on Friday, April 20 by Scotia Capital. The rating was maintained by KeyBanc Capital Markets on Wednesday, September 26 with “Overweight”. The firm has “Neutral” rating given on Monday, September 24 by Moffett Nathanson. The rating was initiated by KeyBanc Capital Markets on Wednesday, May 16 with “Buy”.

Comcast Corporation (NASDAQ:CMCSA) Institutional Positions Chart

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