Mutual fund giant Fidelity Management & Research has increased its stake in Homestore to approximately 13.5 million shares, or 11 percent, according to FindProfit.com, an independent investment service for long- and short-term investors.
Fidelity Management & Research is one of Homestore’s major institutional investors and previously held 7.9 million shares, or 6.5 percent at the end of 2003.
Homestore (Nasdaq: HOMS) stock traded at $5.05 a share today.
In the last four years since going public in the summer of 1999, Homestore’s stock has experienced dramatic highs and lows, reaching $128 a share in January 2000 and dipping to 37 cents in November 2002.
Other top institutional holders of Homestore at year-end 2003 included Capital Research and Management with 13.6 million shares, Amerindo Investment Advisors with 5 million shares, RS Investment Management with 3.6 million shares and Barclays Bank with 3.6 million shares.
Homestore operates the Realtor.com Web site for the National Association of Realtors and sells Realtor.com-related marketing opportunities to Realtors, among other business lines.
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