2 hours ago

Insider Selling: Jason Armstrong Unloads $1.04M Of Comcast Stock

Revealing a significant insider sell on November 7, Jason Armstrong, CFO at Comcast (NASDAQ:CMCSA), as per the latest SEC filing.

What Happened: After conducting a thorough analysis, Armstrong sold 23,248 shares of Comcast. This information was disclosed in a Form 4 filing with the U.S. Securities and Exchange Commission on Thursday. The total transaction value is $1,042,544.

The latest update on Friday morning shows Comcast shares down by 0.61%, trading at $43.92.

Delving into Comcast's Background

Comcast is made up of three parts. The core cable business owns networks capable of providing television, internet access, and phone services to 63 million US homes and businesses, or nearly half of the country. About 50% of the locations in this territory subscribe to at least one Comcast service. Comcast acquired NBCUniversal from General Electric in 2011. NBCU owns several cable networks, including CNBC, MSNBC, and USA, the NBC network, the Peacock streaming platform, several local NBC affiliates, Universal Studios, and several theme parks. Sky, acquired in 2018, is a large television provider in the UK and has invested heavily in proprietary content to build this position. Sky is also a large pay-television provider in Italy and has a presence in Germany and Austria.