Tomahawk, WI 04/07/2014 (Basicsmedia) – Billionaire Stephen A. Cohen, who leads investment firm SAC Capital Advisors, announced last month that he was increasing his stake in popular game maker Zynga Inc. (NASDAQ:ZNGA)’s shares. This move by him will see his overall shares in the gaming company, increase to 5.3%.

Cohen, at present, owns 38.7 million shares according to a regulatory filing. The value of these is estimated to be around $173 million based on market prices. On year end, SAC reported that it has a 2.2% stake in the gaming company which is about 15.8 million shares. About 1.7 million shares are held by Sigma Capital Management LLC

Shares have been down

Zynga Inc. (NASDAQ:ZNGA), based in San Francisco, is the maker of many popular games, chief among them Farmville. Zynga was once a dominant force on Facebook but over the past two years, the company has lost much of its established stand. Shares of Zynga have also been down by two-thirds during this time. The reason behind this fall was the fact that the company failed to shift its focus to developing games for smartphones.

However, under their new CEO Don Mattrick, the company has released mobile versions of their most popular games, Farmville and Zynga Poker. Zynga Inc. (NASDAQ:ZNGA) also announced the acquisition of NaturalMotion last year, in a bid to push itself into the mobile segment.

SAC’s problems

On the other hand, Stamford, Connecticut based, SAC itself is undergoing through a transition. The company agreed to settle criminal charges, last year, by paying a fine of about $1.2 billion and ceased managing of outside money, earlier this year. Nine former or current employees of the investment company were guilty of criminal charges with relation to insider trading. Mr. Cohen wasn’t criminally charged though.

The company will be renamed as Point72 Asset Management and will make a transition into family office, which is said, will be responsible for only managing Mr. Cohen’s personal fortune.

Zynga Inc. (NASDAQ:ZNGA) on the other hand has done the right thing in tying up with NaturalMotion, as that will help both gaming companies share each other’s expertise, in Facebook and mobile segments respectively.

Zynga Inc. (NASDAQ:ZNGA)’s stocks have been trading just above the $4 mark.

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