Payne Capital Management Invests in Amazon.com
Payne Capital Management LLC has invested in Amazon.com, Inc. (NASDAQ:AMZN), purchasing 3,477 shares during the second quarter.
The investment is valued at approximately $829,000 and comprises about 0.2% of Payne Capital's portfolio, making it its 23rd biggest position.
This is not an isolated instance; other large investors have also increased their stakes in AMZN. Silvant Capital Management LLC bought a new stake worth $60,065,000, while Northstar Financial Companies Inc. acquired shares valued at about $3,376,000.
Amazon's stock price has been affected by various factors, including the proposed nationwide class-action lawsuit alleging systematic discrimination against pregnant warehouse employees and concerns about cash-flow pressure and returns timing.