Matrix Asset Advisors Dumps Fiserv After Earnings Miss; ABC Arbitrage Buys $1.2M Stake
Matrix Asset Advisors sold its entire Fiserv position after the company missed Q3 earnings and cut guidance, citing underinvestment and weak oversight under the new CEO. Separately, ABC Arbitrage SA purchased 9,575 Fiserv shares valued at about $1.24 million.
1. Matrix Exits Position After Earnings Miss
Matrix Asset Advisors exited its entire Fiserv holdings after the company reported a surprise Q3 earnings miss and sharply reduced its earnings guidance on the call. The firm’s investor letter highlighted underinvestment, poor financial oversight and overly optimistic goals under the new CEO, calling into question prior financial reports.
2. ABC Arbitrage Acquires Stake in Fiserv
ABC Arbitrage SA established a new position in Fiserv, purchasing 9,575 shares valued at approximately $1.235 million in its most recent SEC Form 13F filing, signaling selective accumulation despite broader sell-off concerns.