Steve Cohen’s SAC Capital has just increased its stake in TiVo Inc. (NASDAQ:TIVO). Steve Cohen’s hedge fund previously held two million shares in the company. According to a 13G filing with the securities and Exchange Comission (SEC),  SAC Capital now owns over 4.4 million shares of the company.

Steven Cohen of SAC CAPITAL

The filing was triggered due to the 5% threshold which Cohen has just passed. Cohen’s fund now owns 6,464,344 common shares equal to 5.2% of the company. With a market capitalization of approximately $1.2 billion, Cohen’s has slightly over $62 million invested in the company. With total assets under management close to $20 billion, this is a small holding for SAC.


TiVo Inc. (NASDAQ:TIVO)  provides technology such as DVRs and services to customers in the US and abroad. The company has just released earnings after the close of the market. TiVO lost $23 million or $23 cents a share for the second quarter. However, analysts had expected the company to lose $0.23 cents a share. TiVO blamed the loss on greater expenses during the quarter. The stock closed today at $9.36, down 1.89%. However, after the earnings release shares were up close to 10%. At the time of this writing, shares are up 4.2% in after market trading.

TiVO is trading at a premium in terms of metrics like Price over sales, Price over book and other valuation metrics. However, the company has a strong balance sheet and a current ratio close to 4.5


SAC was recently in the news overits demand that Clearwater Paper Corp (NYSE:CLW), split itself up. SAC Capital owns 7.2% of Clearwater Paper Corp.

(Disclosure: The author of this article has no position in any securities mentioned)