The stock of Fidelity has been up 20% since January. Last week, the company reported about its public offering under which it plans to sell 17.25 million shares of its common stock for $26.75 apiece. In the third quarter of the year, the consolidated net revenue of Fidelity increased to $2.2 billion, from $2.0 billion a year ago. Net earnings, however, dropped to $98 million, from $234 million.
Jonathon Jacobson's Highfields Capital Management also holds shares of Fidelity, and his position contained around 6.4 million at the end of the second quarter.Disclosure: none Recommended Reading: Baker Bros. Advisors Sells Some MEI Pharma, Discloses a Massive Stake in Mirati Therapeutics David Abrams Continues His Engility Holdings Selling Spree 4 Halloween Hedge Fund Moves Worth Watching