Freemont Management S.A. Takes Position in Take-Two Interactive Software, Inc. (NASDAQ:TTWO)

Key Points

• Freemont Management S.A. acquired 18,300 shares of Take-Two Interactive Software, valued at approximately $3.79 million, making it the fund's 27th biggest holding.
• Take-Two Interactive's stock opened at $225.75 with a market capitalization of $40.05 billion, and analysts have a consensus average rating of "Moderate Buy" with a price target of $232.50.
• Insider transactions included a significant sale by Daniel P. Emerson of 27,056 shares, totaling over $6 million, indicating notable insider activity within the last ninety days.

Freemont Management S.A. purchased a new stake in shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 18,300 shares of the company's stock, valued at approximately $3,793,000. Take-Two Interactive Software comprises about 1.2% of Freemont Management S.A.'s investment portfolio, making the stock its 27th biggest holding.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Clarius Group LLC purchased a new stake in Take-Two Interactive Software in the 1st quarter worth approximately $404,000. Landscape Capital Management L.L.C. purchased a new stake in Take-Two Interactive Software in the 4th quarter worth approximately $1,442,000. Mackenzie Financial Corp increased its holdings in Take-Two Interactive Software by 13.2% in the 4th quarter. Mackenzie Financial Corp now owns 15,698 shares of the company's stock worth $2,890,000 after acquiring an additional 1,833 shares in the last quarter. Stonebridge Financial Group LLC boosted its stake in Take-Two Interactive Software by 3,986.2% in the 1st quarter. Stonebridge Financial Group LLC now owns 1,185 shares of the company's stock worth $246,000 after purchasing an additional 1,156 shares during the period. Finally, Cornerstone Investment Partners LLC grew its holdings in Take-Two Interactive Software by 14.1% during the 1st quarter. Cornerstone Investment Partners LLC now owns 292,616 shares of the company's stock valued at $60,645,000 after buying an additional 36,112 shares in the last quarter. Hedge funds and other institutional investors own 95.46% of the company's stock.

Analyst Ratings Changes

TTWO has been the subject of a number of research analyst reports. DA Davidson increased their price objective on shares of Take-Two Interactive Software from $250.00 to $270.00 and gave the company a "buy" rating in a report on Friday, May 16th. Wall Street Zen downgraded shares of Take-Two Interactive Software from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Robert W. Baird lifted their target price on Take-Two Interactive Software from $210.00 to $230.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. BMO Capital Markets reissued an "outperform" rating and set a $236.00 price target (down from $240.00) on shares of Take-Two Interactive Software in a research note on Monday, May 5th. Finally, Benchmark increased their price target on Take-Two Interactive Software from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, one has given a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Take-Two Interactive Software has an average rating of "Moderate Buy" and an average target price of $234.05.

Take-Two Interactive Software Trading Down 1.2%

Shares of NASDAQ:TTWO traded down $2.71 on Tuesday, hitting $223.39. 569,147 shares of the company's stock were exchanged, compared to its average volume of 2,026,662. Take-Two Interactive Software, Inc. has a 12 month low of $135.24 and a 12 month high of $245.07. The stock has a market capitalization of $39.64 billion, a price-to-earnings ratio of -8.80, a price-to-earnings-growth ratio of 5.85 and a beta of 1.03. The business's 50 day simple moving average is $234.18 and its two-hundred day simple moving average is $217.01. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.78 and a quick ratio of 0.78.

Insiders Place Their Bets

In other news, CEO Strauss Zelnick sold 216,661 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $225.75, for a total transaction of $48,911,220.75. Following the transaction, the chief executive officer owned 1,206,427 shares in the company, valued at approximately $272,350,895.25. This trade represents a 15.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ellen F. Siminoff sold 414 shares of the firm's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $237.80, for a total value of $98,449.20. Following the transaction, the director owned 3,290 shares in the company, valued at approximately $782,362. This represents a 11.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 460,792 shares of company stock valued at $104,014,443 in the last three months. 1.45% of the stock is owned by company insiders.

Take-Two Interactive Software Profile

Take-Two Interactive Software, Inc develops, publishes, and markets interactive entertainment solutions for consumers worldwide. It develops and publishes action/adventure products under the Grand Theft Auto, LA Noire, Max Payne, Midnight Club, and Red Dead Redemption names, as well as other franchises.