Carl Icahn has just increased his stake in the video game maker Take-Two Interactive Software, Inc. (NASDAQ:TTWO) to nearly 10% of outstanding shares. Previously, Carl Icahn owned 8.7% of the Video Game Maker’s shares. Icahn filed a 13D this evening with the SEC, the filing is usually required when an investor takes more than a 10% stake in a company. With 8,686,074 shares held, Icahn has a position worth approximately $80 million. Famous for his activism, Carl Icahn’s slight boost in the company could be an attempt to put pressure on the management. Icahn is the largest shareholder of the company, followed by BlackRock.
Take-Two Interactive Software, Inc. (NASDAQ:TTWO) is a leading worldwide developer, publisher and distributor of interactive software games. The company’s software operates on multimedia personal computers and video game console platforms. They are one of the largest distributors of interactive software games in the United States and one of the top publishers of interactive software games in Europe.
Here’s what Charlie Munger had to say at the Daily Journal meeting
Charlie Munger spoke at the Daily Journal Corporation's Annual Meeting of Shareholders today. Although Warren Buffett is the more well-known Berkshire Hathaway chief, Munger has been at his side through much of his investing career. Q4 2020 hedge fund letters, conferences and more Charlie Munger's speech at the Daily Journal meeting was live-streamed on Yahoo Read More
For the three months ended 30 June 2012, Take-Two Interactive Software, Inc. (NASDAQ:TTWO) revenues decreased 32% to $226.1M. Net loss before extraordinary items increased from $8.6M to $110.8M. Revenues reflect United States segment decrease of 30% to $105.9M, Europe segment decrease of 36% to $82.5M. Higher net loss reflects Interest and other, net increase from $3.7M to $8M (expense), Selling and marketing increase of 6% to $79M (expense).
Disclosure: No position