Tuesday, 30 August 2016
Last updated 1 min ago
Jan 25 2011 | 10:36am ET
SAC Capital Advisors has bought up a 5.3% stake in delivery chain Domino's Pizza, the hedge fund giant disclosed in a regulatory filing.
SAC now owns 3.2 million Domino's shares, scooping them up just two weeks before the Super Bowl—undoubtedly one of Domino's busiest days. But the oft-derided chain has been on something of a roll over the past year, with its share price rising by almost half after it introduced a new pizza recipe in the U.S. and launched a several major advertising campaigns.
The SAC buy helped push Domino's shares up another 2.4% in after-the-bell trading.
SAC said its stake was a passive investment.
The purchase comes exactly five years after the New York Post chose to report the momentous news that Cohen bought a pizza pie from an East 33rd Street pizzeria, paying with his American Express "black card."