Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Shannon River’s Bets on the Gaming Industry: Activision Blizzard, Inc. (ATVI), Take-Two Interactive Software, Inc. (TTWO), Facebook Inc (FB)

Page 1 of 2

Spencer M. Waxman’s Shannon River Fund Management LLC has filed its 13F with the SEC for the reporting period of March 31. The investment manager has an equity portfolio valued at $871.21 million, with its top ten holdings accounting for 49.55% of its portfolio. Information technology, consumer discretionary, and health care are among the primary investment sectors of Waxman. Among those top ten holdings are Activision Blizzard, Inc. (NASDAQ:ATVI) and Take-Two Interactive Software, Inc. (NASDAQ:TTWO), two of the largest publicly-traded gaming companies in the world. We’ll discuss those stocks as well as Shannon River’s other gaming-related stock pick in this article.


Let’s start with Activision Blizzard, Inc. (NASDAQ:ATVI), the largest gaming stock in Waxman’s portfolio. Activision is known for publishing games across multiple platforms including personal computers, consoles, and tablets and other mobile devices. The fund manager holds 1.93 million shares of the gaming company with a market value of $43.84 million as of the reporting period. The shares of Activision Blizzard, Inc. (NASDAQ:ATVI) have grown 24.36% year-to-date. It was an excellent first quarter for the game publisher, which surpassed its prior outlook released in February 2015. The publisher of Call of Duty reported non-GAAP EPS of $0.16 for the first quarter of 2015 along with revenues of $703 million. These results were slightly lower than the prior year quarter’s non-GAAP EPS of $0.19 and revenue of $772 million. Activision Blizzard, Inc. (NASDAQ:ATVI) was also included in Fortune’s list of the ‘100 Best Companies to Work For®.’ Millennium Management, Coatue Management, and Alkeon Capital Management hold large positions in the game publisher.

Take-Two Interactive Software, Inc. (NASDAQ:TTWO) comes in at number two in terms of the largest gaming investments made by the fund manager. Waxman owns 1.15 million shares of the console gaming publisher, with a market value of $29.27 million. Shannon River Management did cut its holdings in all three of the gaming stocks featured in this article, including its 45% sell-off of its stake in Take-Two Interactive Software, Inc. (NASDAQ:TTWO). The gaming firm is likely to release its fiscal 2015 fourth quarter financial results on May 18, 2015. As per the EPS estimate from Zacks, the company is likely to report an EPS of $0.10 for the quarter. Among other upcoming releases, the 2k Sports division of Take-Two Interactive Software is going to release a new version of WWE 2K15 this spring. David Einhorn, one of the top investors in the world, along with Gotham Asset Management and Impala Asset Management are some of the primary investors of Take-Two Interactive Software, Inc.

Page 1 of 2

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

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 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!