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

The 10 Countries with the Highest Suicide Rates

The 10 Most Technologically Advanced Countries in the World

The 10 Safest Countries in the World to Live in Peace

The 10 Top Selling Smartphones in the World 2014

The 12 Biggest Shopping Centers in the World

The 10 Friendliest Countries in the World

Qihoo 360 Technology Co Ltd (QIHU), Actavis plc (ACT), Yahoo! Inc. (YHOO) Among 20 Long Ideas from Sohn Canada

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

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!