Billionaire Steven Cohen Initiates Position in Midstates Petroleum Company Inc (MPO); Boosts Stake in Zynga Inc (ZNGA)

In two new filings with the SEC, Steven Cohen and his hedge fund SAC Capital Advisors revealed adding Midstates Petroleum Company Inc (NYSE:MPO) to their equity portfolio and boosting their passive stake in Zynga Inc (NASDAQ:ZNGA) to over 5.0% of the class A stock. In Midstates, Mr. Cohen currently owns a total of 3.55 million shares, which make the passive stake equal to 5.0% of the common stock. The value of the holding amounts to over $17.93 million at the closing price of Midstates on Thursday.

SAC CAPITAL ADVISORS

The share price of Midstates Petroleum Company Inc (NYSE:MPO) tumbled since February, losing, overall, more than 23% since the beginning of the year, and, with the closing price of $5.05, the shares are slightly above the 52-week low. The independent oil exploration and production company reported a net income of $5.0 million, or $0.08 per share for the fourth quarter of 2013, versus a net loss of around $800,000, or $0.01 per share posted for the same period of last year. Moreover, the company expects production of 36,500 Barrels of oil equivalent per day during the current year, raising the guidance from the previous amount of 33,500 Boe. In addition, in a recent statement, Midstates Petroleum Company Inc (NYSE:MPO) announced that its President and CEO, John A. Crum has resigned from his positions, “in order to allow the company to pursue new leadership and strategic direction.”

Robert Henry Lynch‘s Aristeia Capital also owns a major position in Midstates Petroleum Company Inc (NYSE:MPO), which amasses almost 3.99 million shares, up by 50% over the quarter.

In Zynga Inc (NASDAQ:ZNGA), Mr. Cohen currently owns roughly 38.69 million shares, with SAC holding 36.95 million shares of the aggregate amount, more than double in comparison to 15.76 million shares disclosed in the most recent 13F filing.

Zynga Inc (NASDAQ:ZNGA)’s shares have declined in the past couple of days, losing around 12% since the beginning of the week. The decline comes amid the IPO of Zynga Inc (NASDAQ:ZNGA)’s competitor in the entertainment industry, King Digital Entertainment PLC (NYSE:KING), which started trading on Wednesday and also has lost almost 12% since then. King Digital Entertainment is famous for several of its games, one of which is Candy Crush Saga.

Zynga Inc (NASDAQ:ZNGA)’s financials also don’t look good, the company posting losses and missing the consensus estimates over the past several quarters. However, for the current year, the company is expected to turn to profit and post EPS of $0.02 for 2014. Moreover, the stock has forward P/E of 89.xx.

Following the recent increase, Mr. Cohen is now one of the largest shareholders of Zynga Inc (NASDAQ:ZNGA). John Lykouretzos‘ Hoplite Capital Management is also bullish on the company and added it to its equity portfolio during the fourth quarter of 2013, revealing ownership of almost 20.91 million shares. On the other hand, Robert Pitts‘ Steadfast Capital Management has reduced its position by over 30% to around 19.16 million shares.

Disclosure: none

Recommended Reading:

Steven Cohen Ups His Bets on NQ Mobile Inc (ADR) (NQ)

Steven Cohen, SAC Increase Stake in Annie’s Inc (BNNY)

Sac Capital Advisors Reports New Stake in Momenta Pharmaceuticals, Inc. (MNTA)

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

The 10 Biggest Outlet Malls in USA

The 5 Most Popular Rap Songs of All Time

The 10 Countries that Eat the Most Meat

The10 Most Expensive Countries to Fly To

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!