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Comcast Corp. (CMCSA) Shares Rise Amid Entrance to Mobile Internet Sphere

Comcast Corp. (NASDAQ:CMCSA) rose 2.17% to $38.15 during midday trading on April 6, after its move to enter the mobile internet domain with Xfinity Mobile – boasting a very low price, especially for existing premier subscribers of the traditional cable bundle.

The latest addition to its services recognizes the shift of consumers from traditional TV to mobile. To alleviate the thinning of cable popularity, it required subscription to a cable bundle to avail of Xfinity Mobile but it does place nice perks to the deal.

Comcast Corp. (NASDAQ:CMCSA) will charge no additional fees to let you add up to five lines if you add the Xfinity Mobile deal into your Xfinity Internet service, it provides unlimited call and text, plus users can easily switch between the unlimited plan ($45-$65) and pay “by the gig” plan ($12 per gigabyte).

“Xfinity Mobile uses America’s largest, most reliable 4G LTE network along with Comcast’s 16 million Wi-Fi hotspots to provide consumers with a better wireless experience, for less money, on today’s most popular devices,” the cable giant said in a press release.

What Does The Smart Money Sentiment Say?

Jean-Marie Eveillard of First Eagle Investment Management dumped 8% of its shares as of Dec. 31, 2016, which now stands at over 22 million shares or $1.53 billion. However, smart money showed strong confidence in Comcast Corp. (NASDAQ:CMCSA) shares as we see them in 97 hedge funds with a total of $10.20 billion as of the fourth quarter of 2016, compared to only 83 hedge funds with $8.27 billion in the previous quarter of the same year.

At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 39.7% gains over the past 12 months and outperformed the 24.1% gain enjoyed by the S&P 500 ETFs. Our enhanced small-cap hedge fund strategy returned more than 45% over the last 12 months and outperformed SPY by more than 30 percentage points over the last 4.5 years (see details here).

The Bottom Line

Traders are buying Comcast Corp. (NASDAQ:CMCSA) shares after the company’s move to mobile internet service. To step away from the day’s heavy doldrums, here are 16 biggest internet hoaxes that fooled the world.

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Disclosure: none.

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