GLG Partners Reveals New Stake in China-based Shanda Games Limited (ADR) (GAME)

Noam Gottesman‘s GLG Partners has reported a new stake in Shanda Games Limited (ADR) (NASDAQ:GAME). The fund revealed a passive stake in the company, which amasses almost 7.90 million class A shares, represented by around 3.95 million American Depositary Receipts (ADRs). The position is equal to around 5.05% of the outstanding class A shares.

Shanda Games

Shanda Games Limited (ADR) (NASDAQ:GAME) is a Chinese company engaged in the development of online games and related activities. The company’s controlling shareholder is Shanda Interactive Entertainment Limited. In addition, in the previous round of 13F filings, Jim Simons‘ Renaissance Technologies revealed holding a total of 799,000 shares of Shanda Games, down by 30% over the quarter. At the same time, John Overdeck and David Siegel‘s Two Sigma Advisors reported ownership of 716,600 shares, raising the stake by 135%.

The share price of Shanda Games Limited (ADR) (NASDAQ:GAME) went up by almost 50% since the beginning of the year.  The stock trails a P/E of 7.xx, significantly lower than the industry of multimedia and graphics software average of 50.xx. The company disclosed a net revenue down by 7.9% on the year to $712.6 million. Moreover, the net income of Shanda Games declined by 11% to $279 million. For the current year, the company is expected to report EPS of $0.91 and revenues worth $782 million.

In the latest 13F filing of GLG Partners, the fund revealed an equity portfolio worth almost $1.44 billion. The largest holding in terms of value was Facebook Inc (NASDAQ:FB), in which the fund held some 743,800 shares, worth $40.66 million. Another significant position was represented by Discover Financial Services (NYSE:DFS), followed by Apple Inc. (NASDAQ:AAPL), in which the fund held approximately 535,900 and 50,600 shares respectively.

Earlier this year, GLG Partners revealed boosting its position in Yongye International, Inc (NASDAQ:YONG), in which it currently owns 3.5 million shares, versus just 142,000 shares held previously.

Disclosure: none

Recommended Reading:

Edward Lampert Buys More Shares of Sears Hometown and Outlet Stores Inc (SHOS)

Broadfin Capital Initiates New Positions In Corium International Inc (CORI), AMAG Pharmaceuticals Inc. (AMAG) and La Jolla Pharmaceutical Company (LJPC)

MAK Capital To Vote in Favor of AMETEK, Inc. (AME)’s Acquisition of Zygo Corporation (ZIGO)

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Click here to Read Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 74 percentage points in 2.5 years. Our beta is only 1.2 (download a FREE newsletter and see the details inside)

Lists

Best Selling Magazines in the World

Shortest People in History

The Most Celebrated Holidays in the World

Most Expensive Handbag Brands in the World

Top Selling Comic Book Issues of this Century

The Most Powerful Women in Politics

Best Paid DJs

Most Rebellious Female Artists

Best Paid TV Actresses of 2014

Best Paid Actors of 2014

Most Expensive Horses in the World

Tallest People Ever

Most Encouraging Feminist Celebrities

Best Paid Supermodels of 2014

Top 10 Suburbs for Retirement in 2015

10 Wealthiest Cities in America

Top 10 TED Talks for Entrepreneurs

Best TED Talks on Education

25 Most Dangerous Places to Live in America

Top 10 Ski Resorts in the United States – 2014 List

Top 10 Most Remote Places in the World

Most Visited Museums in the United States

Wealthiest Photographers in the World

Most Famous Gay Athletes

The World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

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 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!