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Do Hedge Funds Love Comcast Corporation (CMCSA)?

Now, key money managers have jumped into Comcast Corporation (NASDAQ:CMCSA) headfirst. Ascend Capital, managed by Malcolm Fairbairn, assembled the most valuable position in Comcast Corporation (NASDAQ:CMCSA). The fund reportedly had $86.1 million invested in the company at the end of the quarter. Howard Guberman’s Gruss Asset Management also made a $85.3 million investment in the stock during the quarter. The other funds with brand new CMCSA positions are Michael Hintze’s CQS Cayman LP, Matthew Mark’s Jet Capital Investors, and Jane Mendillo’s Harvard Management Co.

Let’s now take a look at hedge fund activity in other stocks similar to Comcast Corporation (NASDAQ:CMCSA). These stocks are International Business Machines Corp. (NYSE:IBM), Merck & Co., Inc. (NYSE:MRK), PepsiCo, Inc. (NYSE:PEP), and Cisco Systems, Inc. (NASDAQ:CSCO). This group of stocks’ market values match CMCSA’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
IBM 63 13494699 4
MRK 62 2250136 -12
PEP 57 6739297 0
CSCO 67 4240851 -5

As you can see these stocks had an average of 62 hedge funds with bullish positions and the average amount invested in these stocks was $6.68 billion. That figure was $8.57 billion in CMCSA’s case. Cisco Systems, Inc. (NASDAQ:CSCO) is the most popular stock in this table. On the other hand PepsiCo, Inc. (NYSE:PEP) is the least popular one with only 57 bullish hedge fund positions. Comcast Corporation (NASDAQ:CMCSA) is miles ahead, having registered 80 long hedge fund positions at the end of the quarter. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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