5 Best Streaming Stocks to Buy Now

3. Comcast Corporation (NASDAQ: CMCSA)

Number of Hedge Fund Holders: 84
Total Value of Hedge Fund Holdings: $8.83 Billion

Ranking 3rd in our list of 10 best streaming stocks to buy now is telecommunications company Comcast Corporation (NASDAQ:CMCSA). The Pennsylvania-based technology and entertainment company provides streaming services through Xfinity Stream with over 19.85 million subscribers.

Comcast Corporation (NASDAQ:CMCSA) has a market cap of $259.8 billion. In 2020, Comcast’s revenue came in at $103.5 billion. Shares of CMCSA rose 56% over the past twelve months. In April, Raymond James boosted Comcast from Market Perform to Outperform with a $61 price target.

There were 84 hedge funds that reported owning stakes in Comcast Corporation (NASDAQ:CMCSA) at the end of the fourth quarter, up from 82 funds a quarter earlier. The total value of these stakes at the end of Q4 is $8.83 billion.

Cooper Investors mentioned that the future for CMCSA’s NBCU and Sky’s media content properties has become somewhat unpredictable, although it remains a core area of management priority and resource allocation in its Q4 2020 investor letter:

“During the quarter the portfolio exited its position in Comcast, a long term holding having been in the portfolio since 2013. We were attracted to Comcast’s high quality cable assets which we view as a unique communication infrastructure that continues to perform well as it serves the persistent demand for high speed broadband. However, the outlook for their media and content assets in NBCU and Sky has become increasingly uncertain while remaining a key area of management focus and capital allocation. This clouded view on industry trends led us to seek more attractive investment propositions elsewhere.”

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