IBIS Capital Partners was very active in the second quarter, as it made multiple changes to its portfolio according to its most recent 13F filing with the Securities and Exchange Commission. It added four new stocks to its holdings, raised its position in one, lowered its stake in nine, and dumped one company. It made changes to all of its positions during the quarter. Let’s start with those companies that have garnered the fund’s interest.
The biggest new position IBIS Capital Partners acquired was in Live Nation Entertainment, Inc. (LYV), obtaining 54,099 shares worth around $2.63 million. The second-largest new stake was in Electronic Arts Inc. (EA), with the fund buying 8,400 shares, establishing a position in the company worth around $1.19 million. The two other new stakes were in Acxiom Corp (ACXM) and Zillow Inc (Z).
Even though IBIS Capital Partners lowered its stake in Twenty-First Century Fox Inc. (FOX) by 38% in the second quarter, this is still the stock that accounts for the bulk of its 13F portfolio at 12.75%, with the most valuable position being worth $6.15 million on June 30. Smart money investors from our database were getting more bullish on this stock, as 43 of them were long the stock at the end of June, versus just 30 at the end of March. With increased interest from hedge funds, Twenty-First Century Fox Inc. (FOX) seems like an attractive investment, hence IBIS Capital may have lowered its stake too soon. Another stock in which the fund decreased its stake by 38% was Imax Corp (IMAX), a Canadian theater company that produces IMAX cameras and projection systems. As of June 30, the fund reported holding 254,631 Imax shares, worth around $5.64 million, making it the second-largest stake in its portfolio.
It seems that IBIS Capital Partners is slowly losing enthusiasm for Activision Blizzard Inc. (ATVI), while the smart money investors from Insider Monkey’s system are getting more bullish on it. Activision Blizzard Inc. (ATVI) attracted a net total of seven more investors in the second quarter, counting 66 hedge funds long the stock on June 30. As of the same period, IBIS Capital Partners owned 15,500 of the company’s shares, worth around $1.18 million.
On the other hand, IBIS Capital Partners is becoming more optimistic about a different video game developer, Take Two Interactive Software Inc (TTWO), as are the hedge funds from our database as a whole. The fund raised its stake in the company by 145% during Q2, holding 39,548 shares worth $4.68 million on June 30. At the end of the second quarter, there were 56 investors with long positions in this company, versus 48 a quarter earlier.
The only stock which IBIS Capital Partners decided to dump in the second quarter was World Wrestling Entertainment, Inc. (WWE). The fund said goodbye to the position that was worth $6.38 million at the end of the first quarter, counting 182,546 shares at that time.
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