Activist Hedge Fund Takes a Stake in Comcast
Activist investor Trian Fund Management has taken a $900 million stake in cable TV and entertainment titan Comcast (NASDAQ: CMCSA). The hedge fund is best known for agitating for change at companies it targets, believing that shares are undervalued.
Trian's initial stake was confirmed by a securities filing that showed it accumulated nearly 7.2 million shares to close out the second quarter. Since then, that stake has grown to roughly 20 million shares (or roughly 0.4% of the company), according to a report Monday by The Wall Street Journal.
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Source Fool.com
