Take-Two (TTWO) Moves Higher as One Noted Hedge Fund Sees Value
Tweet
Share
E-mailGet Alerts TTWO Hot Sheet
Join SI Premium – FREE
Take-Two Interactive (Nasdaq: TTWO) shares are moving into positive territory Friday morning following disclosure that a noted hedge fund nearly doubled its bet on the software market.
According to a Form 13G filed with the U.S. SEC today, Ken Griffin's Citadel boosted its stake 81 percent to over 5.5 million shares, or 6.06 percent.
The move today comes as Take-Two, along with peers Electronic Arts (Nasdaq: EA) and Activision Blizzard (Nasdaq: ATVI), was hit in mid-December following the tragic shooting in Newtown, CT. Many pointed the finger at violent video games like "Grand Theft Auto" (Take-Two) and "Call of Duty" (Activision) as contributors to those sorts of events.
We're not aiming to get into a political debate about whether those assumptions are true or not; we're a financial website, so we'll stick with the notion that Griffin sees some little value in Take-Two today. Shares have ended lower seven of the last eight sessions, losing about 16 percent of share value in the process. Electronic Arts and Activision have been on less dramatic slides.
According to a Form 13G filed with the U.S. SEC today, Ken Griffin's Citadel boosted its stake 81 percent to over 5.5 million shares, or 6.06 percent.
The move today comes as Take-Two, along with peers Electronic Arts (Nasdaq: EA) and Activision Blizzard (Nasdaq: ATVI), was hit in mid-December following the tragic shooting in Newtown, CT. Many pointed the finger at violent video games like "Grand Theft Auto" (Take-Two) and "Call of Duty" (Activision) as contributors to those sorts of events.
We're not aiming to get into a political debate about whether those assumptions are true or not; we're a financial website, so we'll stick with the notion that Griffin sees some little value in Take-Two today. Shares have ended lower seven of the last eight sessions, losing about 16 percent of share value in the process. Electronic Arts and Activision have been on less dramatic slides.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jane Street discloses 5% passive stake in Hertz Global
- Pembina joins proposed 1M bbl/day Alberta-to-coast pipeline plan
- Osprey Acquisition Corp. III raises $300M in Nasdaq IPO
Create E-mail Alert Related Categories
13Gs, Hedge Funds, Trader TalkRelated Entities
Citadel, Ken Griffin, Hedge Funds, 13GSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
