NEW YORK : Prominent hedge funds including Arrowstreet Capital LLC, D1 Capital Partners and Coatue Management LLC were among the investors that bought shares of Meta Platforms Inc in the first quarter of the year, amid an eye-popping rebound in the Facebook-parent’s stock. Meta Platforms, which suffered
NEW YORK : Prominent hedge funds including Arrowstreet Capital LLC, D1 Capital Partners and Coatue Management LLC were among the investors that bought shares of Meta Platforms Inc in the first quarter of the year, amid an eye-popping rebound in the Facebook-parent’s stock.
Meta Platforms, which suffered the worst decline among the mega-cap FANG stocks in 2022, jumped about 70 per cent during the first quarter after stunning Wall Street with better than expected earnings and steeper cost-cutting, while at the same time announcing a $40 billion share buyback. Shares of the company are now up nearly 100 per cent for the year to date.
Arrowstreet Capital added about 5 million shares during the quarter, brining its total position to slightly more than 7 million shares, while Coatue more than doubled its position in the company by buying 4.2 million shares. Winslow Capital Management, meanwhile, initiated a new position in the firm by buying about 927,000 shares, and D1 Capital Partners bought slightly more than 1 million shares.
T Rowe Price Group Inc and Nuveen Asset Management were the largest buyers among mutual fund companies, with each firming adding slightly more than 6 million shares of the company. Norges Bank, the central bank of Norway, was the largest seller among all firms, unloading more than 35 million shares during the quarter. Two Sigma Investments sold its entire stake of about 569,000 shares, while Glenview Capital Management, run by billionaire Larry Robbins, sold its entire stake of about 526,000 shares, according to filings.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Amazon optimises delivery network for speedier delivery, lower costsAmazon.com Inc said it has optimised its delivery network coming out of the Covid-19 pandemic, allowing it to increase delivery speeds and lower costs, while also reducing the ecommerce giant's carbon emissions. The online retailer on Saturday (May 13) said it has reduced delivery times, reshaped its inventory management system as well as search capabilities to show customers items closest...
Read more »
Pros and cons of paying off your mortgage earlyWith mortgage interest rates in Singapore on the rise, homeowners are starting to wonder if making full payments on their mortgage loans ahead of schedule is a smart way to save. While the basic answer is yes, the financial management style and goals of homeowners can make the answer less straightforward. At times, the amount of interest saved from repaying...
Read more »
Pros and Cons of Paying Off Your Mortgage Early - Singapore NewsWith mortgage interest rates in Singapore on the rise, homeowners are starting to wonder if making full payments on their mortgage loans ahead of schedule is a smart way to save. While the basic answer is yes, the financial management style and goals of homeowners can make the answer less straightforward.
Read more »
Analysis:Tesla’s new car-making process stokes debate among industry expertsTesla Inc's new vehicle-assembly system, which created instant buzz when it was unveiled in March, ignited a debate among auto manufacturing experts on whether CEO Elon Musk's so-called unboxed process is radical, revisionist or derivative - or all of the above.Musk believes the company needs to radically
Read more »
Shandong Nanshan may expand Indonesia site into $6 billion aluminium complexSINGAPORE/JAKARTA : China's Shandong Nanshan plans to expand its new Indonesian alumina plant to a $6 billion aluminium smelting complex by 2028, a company executive said, which would be among the largest foreign investments in the resource-rich nation.Shandong Nanshan is among a growing group of private
Read more »