5 Stocks to Buy According to Carlson Capital

3. Zynga Inc. (NASDAQ:ZNGA)

Carlson Capital’s Stake Value: $59,136,000
Percentage of Carlson Capital’s Portfolio: 4.04%
Number of Hedge Fund Holders: 63

Zynga Inc. (NASDAQ:ZNGA) creates, distributes, and manages social game services domestically and abroad. Carlson Capital added Zynga Inc. (NASDAQ:ZNGA) to its Q1 portfolio by purchasing 6.40 million shares worth $59.14 million, representing 4.04% of its 13F portfolio’s value. On May 23, Take-Two Interactive Software, Inc. (NASDAQ:TTWO) formally closed its $12.7 billion acquisition of Zynga Inc. (NASDAQ:ZNGA).

On June 29, UBS analyst John Hodulik maintained a ‘Neutral’ rating on Take-Two Interactive Software, Inc. (NASDAQ:TTWO) while cutting the price objective to $143 from $185. The closure of the Zynga acquisition and the reduced multiples in the gaming industry were reflected in the analyst’s revised model.

According to Insider Monkey’s Q1 data, 63 hedge funds were bullish on Zynga Inc. (NASDAQ:ZNGA), compared to 47 funds in the earlier quarter. Ric Dillon’s Diamond Hill Capital held the largest stake in Zynga Inc. (NASDAQ:ZNGA), comprising 31.33 million shares worth $289.48 million.