Caledonia Investments now holds 16.45% of Zillow stock
So Australian investment fund Caledonia Investments increases it holding in Zillow to 16.45% as reported in todays Schedule 13G/A SEC filing. Makes you wonder what their strategy is, particularly as they have built a 13.7% holding in Zillow competitor Trulia, The Caledonia buying is they main reason behind the recent share price increase in both these companies so it begs the question if they know something about separate bids for both companies. Or maybe they just don't realize how massively over valued both Z and TRLA are.
Well with several investment funds owning substantial holdings in both Zillow and Trulia maybe the merger rumor is a diversionary tactic to cover big 2nd quarter losses from both companies and avoid both stocks crashing.