Baillie Gifford has lifted its stake in Hargreaves Lansdown to over 5%, taking advantage of a fresh slump in the D2C platform's share price last week.
The asset manager now holds a 5.04% stake in the firm, according to a stock market filing issued this morning, having added to its stake on Friday 26 September. The purchase came a day after a note from RBC which sent shares tumbling. RBC's analysts cut their target price on the stock by 35% to £10.75, a move which subsequently sent shares down 4% to 923p. Baillie Gifford owned 4.6% of the company as of this May, according to data from S&P Capital IQ, spread across a variety of institutional and retail mandates, including the Baillie Gifford UK Equity Alpha fund. Its latest purc...
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