Activist investor Carl Icahn has increased his stake in video game developer Take-Two Interactive, according to an SEC filing (Via Business Insider). Icahn has said he believes the stock is undervalued—and he must still think so, despite the recent run-up in the company’s shares since early December, when he first started buying up Take-Two stock.
Over the last several days, Icahn bought up just over one million shares at roughly $9.20 each; he had accumulated most of his initial stake in Take-Two at around $8 a share. The most recent share purchases boost Icahn’s stake in Take-Two to 12.28 percent from 11.3 percent. So far, Icahn has used his leverage to get three seats on Take-Two’s board. There’s speculation, though, that he ultimately wants the struggling game-maker to sell itself.
