Smart Money is Hoarding Shares of These 10 Technology Stocks, Part 2

Take-Two Interactive Software, Inc. (NASDAQ:TTWO)

 – Investors with Long Positions (September 30): 35

 – Aggregate Value of Investors’ Holdings (September 30): $905 million

 – Common Stock of The Company Owned By Investors (as of September 30): 36.90%

It’s not hard to understand why funds are hoarding shares of gaming company Take-Two Interactive Software, Inc. (NASDAQ:TTWO); its stock has been on a perpetual uptrend during the last three years and is currently trading up by almost 25% this year. Interestingly, although the number of funds tracked by us that were long the stock dropped by five during the third quarter, the aggregate value of hedge funds’ holdings in Take-Two Interactive Software, Inc. (NASDAQ:TTWO) saw an increase of $28 million during the same period. On November 5, the company reported its fiscal year 2016 second-quarter results, declaring EPS of $0.30 on revenue of $364.90 million, easily beating analyst expectations of EPS of $0.15 on revenue of $319.83 million. Following the earnings release, on November 8, analysts at Sterne Agee CRT reitearted their ‘Buy’ rating on the stock, while upping their price target on it to $39 from $35. With ownership of over 4.1 million shares of Take-Two Interactive Software, Inc., David Einhorn‘s Greenlight Capital was the largest shareholder of the company in our database at the end of September.

Liberty Tripadvisor Holdings Inc (NASDAQ:LTRPA)

 – Investors with Long Positions (September 30): 27

 – Aggregate Value of Investors’ Holdings (September 30): $622 million

 – Common Stock of The Company Owned By Investors (as of September 30): 37.5%

Liberty Tripadvisor Holdings Inc (NASDAQ:LTRPA)’s stock has been quite volatile this year. Even after suffering a heavy decline in the third quarter, it currently trades up over 10% year-to-date. During the third quarter, when shares of the company fell by more than 30%, the number of hedge funds covered by us that owned shares of the company declined by six and the aggregate value of investors’ holdings in the stock dropped by almost 37%. However, looking at the percentage of outstanding shares of the company owned by hedge funds we cover, it’s clear that there’s still a lot of conviction in the stock. D E Shaw, founded by billionaire David E. Shaw, reduced its stake in the company by 10% to slightly over 3.0 million shares during the third quarter.

AerCap Holdings N.V. (NYSE:AER)

 – Investors with Long Positions (September 30): 77

 – Aggregate Value of Investors’ Holdings (September 30): $2.99 billion

 – Common Stock of The Company Owned By Investors (as of September 30): 39.70%

Aircraft leasing company AerCap Holdings N.V. (NYSE:AER) experienced an unusual third quarter, as while the number of funds that were long the company remained constant quarter-over-quarter at 77, the aggregate value of hedge funds’ holdings in it declined by over $1.1 billion during the same period. The stock of AerCap Holdings N.V. (NYSE:AER) made its lifetime high of $51.50 in June and even after declining by 20% since then, is still up by 4% this year. The company is currently trading at a forward price-to-earnings multiple of just 6.71, which is significantly cheaper than its peers. On November 13, analysts at JPMorgan Chase & Co. reiterated their ‘Overweight’ rating on the stock, while upping their price target on it to $54 from $52. Billionaire Ken Griffin‘s Citadel Investment Group reduced its stake in the company by 19% to 5.6 million shares during the July-to-September period.

Disclosures: None