Is Comcast Corp. (CMCSA)’s Shares Still Worth Buying?

Mawer Investment Management, an investment management firm, published its third-quarter 2022 investor letter – a copy of which can be downloaded here. In its third-quarter letter, the fund mentioned that the valuation correction experienced in 2022 has its benefits in that gravity is being restored to the system and that the probability of a global economic slowdown remains high. Try to spare some time to check the fund’s top 5 holdings for you to have an idea about their best stock picks this 2022.

In its Q3 2022 investor letter, Mawer Investment Management mentioned Comcast Corporation (NASDAQ:CMCSA) and explained its insights for the company. Founded in 1963, Comcast Corporation (NASDAQ:CMCSA) is a Philadelphia, Pennsylvania-based telecommunications company with a $132.6 billion market capitalization. Comcast Corporation (NASDAQ:CMCSA) delivered a -40.29% return since the beginning of the year, while its 12-month returns are down by -43.54%. The stock closed at $30.05 per share on October 14, 2022.

Here is what Mawer Investment Management has to say about Comcast Corporation (NASDAQ:CMCSA) in its Q3 2022 investor letter:

“There are a few other segments of our portfolios that displayed weakness in the quarter. Cable and telecommunication companies have been an area that has lagged the broader market as their worlds are increasingly colliding. Companies such as Comcast (NASDAQ:CMCSA) has been impacted as wireless operator is spending heavily to attract internet subscribers with fixed wired access and the cable companies are trying to build wireless businesses.”

Our calculations show that Comcast Corporation (NASDAQ:CMCSA) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Comcast Corporation (NASDAQ:CMCSA) was in 75 hedge fund portfolios at the end of the second quarter of 2022, compared to 78 funds in the previous quarter. Comcast Corporation (NASDAQ:CMCSA) delivered a -25.88% return in the past 3 months.

In April 2021, we also shared another hedge fund’s views on Comcast Corporation (NASDAQ:CMCSA) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q3 page.

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Disclosure: None. This article is originally published at Insider Monkey.