This Asset Manager Has a Nearly $200 Million Bet on Macy's Stock — What Should Long-Term Investors Know?

London-based RWC Asset Management disclosed the purchase of Macy's (NYSE:M) shares in an SEC filing on Monday, adding 255,473 shares worth an estimated $3.6 million.According to a filing with the Securities and Exchange Commission released Monday, RWC Asset Management increased its position in Macy's during the third quarter. The fund purchased 255,473 additional shares, bringing its total position to 10.9 million shares. The estimated value of the transaction, based on the average closing price during the quarter, was $3.6 million.The buy brings the Macy's stake to 9.5% of RWC Asset Management's reportable U.S. equity assets under management.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool