Citadel Starts Zillow Stake ~ market folly

Wednesday, November 28, 2012

Citadel Starts Zillow Stake

Ken Griffin's investment firm Citadel Investment Group just filed a 13G with the SEC regarding shares of Zillow (Z).  Per the filing, Citadel has revealed a 6.1% ownership stake in the company with 1,588,436 shares.

This is a brand new position for the firm and the disclosure was required due to portfolio activity on November 19th.  Shares of the real estate information site dropped recently after the company issued disappointing guidance.  Zillow recently announced it would be acquiring HotPads in an effort to broaden its reach in the housing rental space.

As of the end of the third quarter (September 30th), other top institutional holders of Z shares included JAT Capital, Miura Global, Glade Brook Capital, and more.

Per Google Finance, Zillow is "a real estate information marketplace. The Company provides information about homes, real estate listings and mortgages, through its Website and mobile applications, enabling homeowners, buyers, sellers and renters to connect with real estate and mortgage professionals. The Company’s database has more than 100 million United States homes, including homes for sale, homes for rent and homes not currently on the market. Individuals and businesses that use Zillow have updated information on more than 27 million homes and added more than 50 million home photos. These profiles include detailed information about homes, such as property facts, listing information and purchase and sale data."

For those interested, we've also recently posted up some of Citadel's short positions.

blog comments powered by Disqus