NBCUniversal profits $86 million off Peloton stock sale

NBCUniversal participated in Peloton’s Series E and Series F fundraising rounds in 2017 and 2018, and it ended up with a double-digit ownership stake in the company prior to Peloton’s IPO. NBCUniversal recently sold its entire stake in Peloton for an $86 million profit.

The news comes from Hollywood Reporter.

In the SEC filing, NBCUniversal said it saw a $86 million gain on its investment in the company in the second quarter of this year. The company had previously sold about half its stake in Peloton, worth about $178 million, in the first quarter.

NBCUniversal has been looking for holdings to sell over the past year, as parent company Comcast seeks to pay down its long-term debt and to invest in its Peacock streaming service. The company liquidated its $500 million stake in Snapchat late last year for a $293 million gain, and last month sold its Bluprint VOD service to a marketing firm.

From the report, it’s clear that it wasn’t about NBCUniversal wanting out of the Peloton stock as much as it was about taking profits on its investment while it seeks to pay down debt from Peacock and other investments.

Peloton stock has been one of the high points of the 2020 investment market. It’s 52 week low is $17.70 while it hovers near its 52 week high of $69.73 per share. It was at $68.22 as of market close yesterday. As gym attendance stays low due to COVID-19 fears, Peloton stock has been an attractive option for investors looking for growth opportunities in the light of so much economic uncertainty.

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