What’s going on:
Jump Financial LLC recently made an investment in WeWork, purchasing 15,391 of its shares with a total estimated value of $41,000, as revealed in the company’s filing to the Securities and Exchange Commission.
Institutional investors own 81.61% of the company’s stock.
Why it matters:
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company.
- Royal Bank of Canada has significantly increased its stake in WeWork, jumping by 114.7% in the first quarter alone. With the acquisition of an additional 2,724 shares, the Bank now owns a total of 5,099 shares valued at $35,000.
- In the second quarter, Maryland State Retirement & Pension System invested $50,000 in shares of WeWork.
- First Affirmative Financial Network bought a new position in shares of WeWork in the third quarter valued at $27,000.
- Principal Financial Group Inc. invested $68,000 in WeWork shares during the second quarter.
- SG Americas Securities LLC bought a new position in shares of WeWork in the third quarter valued at $40,000.
How it’ll impact the future:
Although WeWork has been closing many of its location as of late, it seems that investors are still keen to put their money into the company. Time will tell if this confidence from hedge funds and investors will help the potentially struggling company.