Citadel Advisors Raises Stake in Tivo to 5.2%


Citadel Advisors is adding more than 5 million shares to their previous position in TiVo Inc. (NASDAQ:TIVO), taking their aggregate stake to 5.2 percent of the common stock, up from 0.82 percent in 3Q2012. According to the 13G filed with the SEC, Citadel now owns 6,625,591 shares of the software services company. Ken Griffin’s hedge fund bought another 5,604,058 million shares to its previous holding of 1,021,533 shares.

Citadel has been busy boosting its major long positions in the last couple of months. The fund raised its stake in Navistar International Corp (NYSE:NAV) to 5.4 percent in the first week of January. Ken Griffin also amassed 6.06 percent position in Take-Two Interactive Software, Inc. (NASDAQ:TTWO), in the last week of Dec 2012.

Other significant holder of TiVo Inc. (NASDAQ:TIVO)’s common stock is Steve Cohen’s S.A.C Capital. The firm owned 6,464,344 common shares according to the 13G filed on Aug 29 of last year. Major holders of TiVo Inc. (NASDAQ:TIVO), according to 13f filings are Wellington Management Co LLP that holds 10,764,260 shares while BlackRock Advisors LLC owns 7,608,714 shares. Leon Cooperman’s Omega Advisors and Jericho Capital also have a long position in the stock.

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Mattew Zinn, VP and General Counsel of Tivo, was recognized for his success in negotiating deals with Verizon Communications Inc. (NYSE:VZ), DISH Network Corp. (NASDAQ:DISH) and AT&T Inc. (NYSE:T). The Association of Media & Entertainment Counsel honored Zinn with the Deal Maker of the Year Award in the 8th Annual Counsel of the Year Awards held on Jan 15 in Los Angeles. The settlement agreements with the wireless network companies resulted in $1 billion in guaranteed payments to Tivo. The patent litigation has been underway since 2011.

TiVo Inc. (NASDAQ:TIVO)’s market cap is now $1.5 billion, up from $1.2 billion in mid 2012. TIVO is trading around $12.06 today. The share price appreciated more than 36 percent in last year.

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