Gluskin Sheff & Assoc INC Decreased Stake in Comcast Corporation ‘A’ (NASDAQ:CMCSA) by $4.11 Million as Shares Rose


Gluskin Sheff & Assoc Inc decreased its stake in Comcast Corporation ‘A’ (NASDAQ:CMCSA) by 6.32% based on its latest 2016Q2 regulatory filing with the SEC. Gluskin Sheff & Assoc Inc sold 67,413 shares as the company’s stock rose 9.78% with the market. The institutional investor held 999,607 shares of the television services company at the end of 2016Q2, valued at $61.06 million, down from 1.07 million at the end of the previous reported quarter. Gluskin Sheff & Assoc Inc who had been investing in Comcast Corporation ‘A’ for a number of months, seems to be less bullish one the $158.29B market cap company. The stock is down 1.19% or $0.78 after the negative news, hitting $64.98 per share. About 6.26M shares traded hands. Comcast Corporation (NASDAQ:CMCSA) has risen 10.71% since February 8, 2016 and is uptrending. It has underperformed by 5.78% the S&P500.

Gluskin Sheff & Assoc Inc, which manages about $7.77 billion and $1.12 billion US Long portfolio, upped its stake in Jp Morgan Chase & Co. (NYSE:JPM) by 208,571 shares to 598,532 shares, valued at $35.45M in 2016Q2, according to the filing. It also increased its holding in Oracle Corporation (NYSE:ORCL) by 589,133 shares in the quarter, for a total of 1.02M shares, and has risen its stake in Diamondback Energy Inc (NASDAQ:FANG).

Gluskin Sheff & Assoc Inc is a Ontario, Canada-based institutional investor with more than $7.77 billion AUM in September, 2014. This fund invests only a small percentage of its assets in equities and options. Taken from Gluskin Sheff & Assoc latest Adv, the fund reported to have 127 full and part-time employees. Among which 32 performing investment advisory and research functions. The institutional investor had more than 3700 clients.

The institutional sentiment decreased to 0.94 in Q2 2016. Its down 0.07, from 1.01 in 2016Q1. The ratio dived, as 62 funds sold all CMCSA shares owned while 488 reduced positions. 82 funds bought stakes while 436 increased positions. They now own 1.91 billion shares or 3.22% less from 1.97 billion shares in 2016Q1.

Bluespruce Investments Lp holds 9.64% of its portfolio in CMCSA for 368,128 shares. Veritas Asset Management Llp owns 12.45 million shares or 8.92% of their US portfolio. Moreover, Egerton Capital (Uk) Llp has 8.69% invested in the company for 11.88 million shares. The New York-based Lakewood Capital Management Lp has invested 8.29% in the stock. Mcdonald Capital Investors Inc Ca, a California-based fund reported 1.15 million shares.

Out of 12 analysts covering Comcast (NASDAQ:CMCSA), 9 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 75% are positive. Comcast has been the topic of 23 analyst reports since September 16, 2015 according to StockzIntelligence Inc. Telsey Advisory Group maintained the stock on August 19 with “Outperform” rating. RBC Capital Markets maintained the shares of CMCSA in a report on April 28 with “Outperform” rating.

Comcast Corporation is a media and technology company. The company has a market cap of $158.29 billion. The Company’s primary businesses include Comcast Cable and NBCUniversal. It has a 19.76 P/E ratio. The Company’s Comcast Cable business operates in Cable Communications segment.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Leave a Reply