Vistry rallies as US hedge fund Abrams Capital ups stake.
Vistry shares sparked on Thursday as it revealed that US hedge fund Abrams Capital Management has lifted its stake in the housebuilder to 10.2% from 8.2%.
Source: Sharecast
At 1030 GMT, the stock was up 1.8% at 610.50p.
Russ Mould, investment director at AJ Bell, said: "Changes to Vistry’s shareholder register caused investors to sit up and take notice.
"It isn’t the type of investor to want to own the company outright, but it might want to use the large shareholding to push for change in the business.
"Three profit warnings in three months capped off a disastrous end to 2024 for Vistry, so other investors might welcome Abrams leading the charge and calling for a strategic and/or board overhaul."
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
