Market Overview

Cohen Increases Stake in Zynga

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On Thursday night, the SEC disclosed that Steven Cohen, founder of SAC Capital Advisors (SAC), has increased his stake in Zynga (NASDAQ: ZNGA) to 5.3 percent.

Steven Cohen increased the total number of beneficially owned shares to 38,694,391, which makes up approximately 5.3 percent of the total stake in the video-game publisher stock. The 13F filing on February 14 for the quarter ending December 31 showed that SAC had a 15.76 million share stake in Zynga, or an approximate 2.16 percent stake.

According to a regulatory filing yesterday, Cohen controls 38.7 million shares or approximately $173 million. SAC is now the second largest shareholder in Zynga following the increased stake disclosed on Thursday.

Shares of Zynga fell to $4.47 on Thursday, down 3.7 percent for the day. The stock regained some traction Friday morning with news surrounding the regulatory filing before taking a dip to $4.39, down as much as 1.8 percent. Shares are currently trading down 1.45 percent at $4.405.

Posted-In: SAC Capital Advisors SEC Steven CohenNews

 

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