Boston, MA, 03/31/2014 (usastockreports)- The investment firm SAC Capital Advisors founded by Steven A. Cohen has disclosed that it has doubled its stake in Zynga Inc (NASDAQ:ZNGA). It now owns more than 5% in the company share earlier the share of the company was 2.2%. The total $173 million was paid to complete this deal.
As per the reports filed with Securities and Exchange Commission US, the SAC Capital Advisors now owns 5.3% or 38.7 million shares in the company. Now the SAC capital advisor is single largest shareholder in the company just above the Vanguard group which has 5.1% stakes.
On the other hand Zynga Inc (NASDAQ:ZNGA) is also facing tough time since it has decided to go public in 2011. Many reasons can be attributed to this: It has some ill planned acquisition, its relation with the Facebook Inc (NASDAQ:FB) soured. So this came as wind of relief for the company in the scorching summer. Now the 58% of gaming giant shares are owned by hedge funds (alternative investment option available only to sophisticated investors, such as institutions and individuals with significant assets).
Now the company is looking to make amends, with the acquisition of NaturalMotion specialist in next generation of Mobile games and animation technology. We all know that on the FB platform the company has to suffer some losses. The number of MAU (Monthly Active Users) for the company games has been declined by almost 68%. So the acquisition of the mobile gaming company will increase the mobile space for the Zynga Inc (NASDAQ:ZNGA). On the other hand the expertise on the Facebook Inc (NASDAQ:FB) will stand in good stead in the case of NaturalMotion.
We hope Zynga Inc (NASDAQ:ZNGA) will bounce back with some shrewd decisions and strategies. As with the web version of games there was limited scope for the growth but with mobile gaming the sky is only limit for the company.