Catalyst Investment Management Invests Heavily in Amazon.com
Catalyst Investment Management LLC has invested $483,000 in Amazon.com's stock. This investment was made during the second quarter when Catalyst purchased 2,026 shares of AMZN's stock.
This is not an isolated instance as several other hedge funds have also shown interest in investing in Amazon. Northstar Financial Companies Inc., for example, acquired a new stake in Amazon worth approximately $3.38 million. Gryphon Financial Partners LLC and First Citizens Bank & Trust Co. both increased their stakes in the e-commerce giant during the first quarter.
In related news, Amazon's quarterly earnings report showed that the company beat analyst estimates with a profit of $5.75 per share. Revenue for the quarter was up 19.6% compared to the same period last year.