Vistry rallies as US hedge fund Abrams Capital ups stake

(Sharecast News) - Vistry shares sparked on Thursday as it revealed that US hedge fund Abrams Capital Management has lifted its stake in the housebuilder to 10.2% from 8.2%. At 1030 GMT, the stock was up 1.8% at 610.50p.

Russ Mould, investment director at AJ Bell, said: "Changes to Vistry's shareholder register caused investors to sit up and take notice.

"It isn't the type of investor to want to own the company outright, but it might want to use the large shareholding to push for change in the business.

"Three profit warnings in three months capped off a disastrous end to 2024 for Vistry, so other investors might welcome Abrams leading the charge and calling for a strategic and/or board overhaul."