Citadel Advisors, helmed by billionaire Ken Griffin, has taken a huge stake in video game developer Take-Two Interactive Software Inc. (NASDAQ:TTWO). A new 13G filing reports that Citadel now owns just under 5.13 million shares of the company, amounting to a 5.8% stake in it. Citadel had owned 1.69 million shares on June 30, according to its most recent 13F filing. Though the filing was released today, its date of event is September 27, meaning Citadel had amassed the position before the latest volatility in the stock.
Take-Two Interactive Software Inc. (NASDAQ:TTWO) stumbled through the early part of October as heavy put volume pulled the stock down from its 52-week highs. However, shares rebounded to the dismay of bears as the Grand Theft Auto-maker teased a sequel to Red Dead Redemption in a tweet on Monday. The first game in the series, Red Dead Revolver, was also re-released as a PS2 on PS4 game less than a week before the tweet. Red Dead Redemption sold about 14 million copies worldwide, and Piper Jaffray’s Michael Olson has estimated that the new game could sell about 17 million copies based on the results of an in-house survey which showed that 23% of the 450 console owners surveyed plan to buy the game, which has officially been given a Fall 2017 release date by Take-Two. Piper Jaffray has a ‘Buy’ rating and $51 price target on Take-Two Interactive.
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Take-Two Interactive Software Inc. (NASDAQ:TTWO) was a popular stock among the collection of successful hedge funds that we track in the second quarter, as it was held in the portfolios of 47 of those investors on June 30, up from 42 at the end of March. Among them were David Einhorn‘s Greenlight Capital, with a position of 2.73 million shares, Jim Simons’ Renaissance Technologies, with a holding of 2.48 million shares, and Curtis Macnguyen’s Ivory Capital. Steven Cohen’s Point72 Asset Management and Daniel Lascano’s Lomas Capital Management were among the hedge funds to take new positions in Take-Two during the quarter.
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You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Citadel Advisors | 0 | 4,895,642 | 0 | 5.6% | ||
| Citadel Advisors Holdings II | 0 | 4,895,642 | 0 | 5.6% | ||
| Citadel GP | 0 | 5,129,099 | 0 | 5.8% | ||
| Kenneth Griffin | 0 | 5,129,099 | 0 | 5.8% |
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Page 1 of 10 – SEC Filing
| UNITED STATES |
| SECURITIES AND EXCHANGE COMMISSION |
| Washington, D.C. 20549 |
| SCHEDULE 13G |
| (Rule 13d-102) |
| Information Statement Pursuant to Rules 13d-1 and 13d-2 |
| Under the Securities Exchange Act of 1934 |
| (Amendment No. )* |
| Take-Two Interactive Software, Inc. |
| (Name of Issuer) |
| Common stock, par value $0.01 per share |
| (Title of Class of Securities) |
| 874054109 |
| (CUSIP Number) |
| September |
| Date of Event Which Requires Filing of the Statement |
Check the appropriate box to designate
the rule pursuant to which this Schedule is filed:
| [ ] | Rule 13d-1(b) |
| [X] | Rule 13d-1(c) |
| [ ] | Rule 13d-1(d) |
*The remainder of this cover page shall
be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for
any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder
of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of
1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions
of the Act (however, see the Notes).
