Here’s what, besides Disney, hedge fund Third Point recently charged

Activist investor Daniel Loeb’s Third Point LLC has bought new stakes in T-Mobile US Inc. and Colgate Palmolive Co. and sold stakes in electric vehicle makers Rivian Automotive Inc. and Amazon.com Inc., among others, according to a filing late Monday.

Third Point announced a new stake in Walt Disney Co. early Monday and said it will seek changes at the media giant.

In a letter to Disney DIS,
+2.21%,
The fund, which manages approximately $14 billion in assets, proposed cost cuts, a continuation of the dividend freeze to conserve cash and a spin-off of Disney’s ESPN business, among other proposals. Third Point purchased 1 million shares of Disney stock during the quarter ended June 30, according to the filing.

Third Point also bought nearly 1.99 million shares of Colgate Palmolive CL,
+1.18%,
and nearly half a million shares of T-Mobile TMUS,
+0.16%.

The hedge fund sold its Amazon.com AMZN,
-0.26%
and Rivian RIVN,
-4.16%
Holdings and their Dell Technologies Inc. DELL,
+0.17%,
Intuit Inc. INTU,
+0.53%
and Microsoft Corp. MSFT,
+0.53%
positions.

Third Point also sold all of its shares in Western Digital Corp. wdc,
-2.09%
and Zendesk Inc. ZEN,
-0.05%,
among other.

https://www.marketwatch.com/story/heres-what-else-besides-disney-that-hedge-fund-third-point-loaded-up-on-recently-11660600981?rss=1&siteid=rss Here’s what, besides Disney, hedge fund Third Point recently charged

Brian Lowry

InternetCloning is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@internetcloning.com. The content will be deleted within 24 hours.

Related Articles

Back to top button