NEW YORK (
) -- Activist investor Carl Icahn has taken a stake of 11.3% in
, the publisher of the video game "Grand Theft Auto."
Icahn, in a regulatory filing with the
Securities and Exchange Commission
, said shares of Take-Two were undervalued. The filing said he might seek to hold talks with Take-Two management.
The stock closed Thursday at $8.25, up 15 cents, but rose after the news of Icahn's investment by 25 cents, or 3%, to $8.50 in after-hours trading. It has risen about 9% year-to-date in 2009.
Take-Two posted a fourth-quarter loss Thursday of $22 million, or 28 cents a share, compared with a year-earlier loss of $15 million, or 20 cents a share. Excluding items in the latest fourth quarter, including impairment charges of $14.8 million, earnings were $7 million, or 9 cents a share, up from 2 cents a share a year earlier.
Revenue increased 6.2% to $343.4 million.
The numbers were in-line with the company's preannouncement earlier this month.
Take-Two reiterated previous guidance for the first quarter ending Jan. 31, 2010, and the fiscal year ending in October.
-- Reported by Joseph Woelfel in New York.
Follow TheStreet.com on
and become a fan on