Bank of America Corp DE Purchases 58,703 Shares of Take-Two Interactive Software, Inc. $TTWO

Key Points

• Bank of America increased its Take-Two stake by 3.2%, purchasing 58,703 additional shares to hold 1.91 million shares valued at approximately $377.6 million. Institutional investors collectively own 95.46% of TTWO.
• Take-Two shares opened at $242.92, above their 50-day and 200-day moving averages, with a one-year trading range of $187.63 to $265.94 and a market capitalization of $45.42 billion.
• Wall Street remains broadly positive, with a consensus “Buy” rating and an average price target of $294.44, although insiders sold $128.4 million of stock over the past 90 days.

Bank of America Corp DE increased its position in shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Free Report) by 3.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,912,079 shares of the company's stock after buying an additional 58,703 shares during the quarter. Bank of America Corp DE owned about 1.03% of Take-Two Interactive Software worth $377,636,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Edgestream Partners L.P. increased its holdings in shares of Take-Two Interactive Software by 502.6% during the first quarter. Edgestream Partners L.P. now owns 12,083 shares of the company's stock valued at $2,386,000 after acquiring an additional 10,078 shares in the last quarter. Bull Harbor Capital LLC bought a new position in shares of Take-Two Interactive Software in the 1st quarter worth $521,000. Smith Group Asset Management LLC lifted its holdings in shares of Take-Two Interactive Software by 27.4% in the 1st quarter. Smith Group Asset Management LLC now owns 10,756 shares of the company's stock worth $2,124,000 after purchasing an additional 2,316 shares in the last quarter. MSA Advisors LLC acquired a new stake in Take-Two Interactive Software in the 1st quarter valued at $139,000. Finally, Amundi increased its stake in Take-Two Interactive Software by 38.1% during the 1st quarter. Amundi now owns 2,493,985 shares of the company's stock valued at $492,562,000 after purchasing an additional 688,133 shares in the last quarter. Institutional investors own 95.46% of the company's stock.

Take-Two Interactive Software Stock Performance

Shares of TTWO stock opened at $242.92 on Monday. The firm has a 50-day moving average of $234.53 and a 200-day moving average of $221.49. The company has a market cap of $45.42 billion, a P/E ratio of -149.95, a P/E/G ratio of 4.52 and a beta of 0.97. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.24 and a quick ratio of 1.24. Take-Two Interactive Software, Inc. has a one year low of $187.63 and a one year high of $265.94.

Insiders Place Their Bets

In other Take-Two Interactive Software news, Director Michael Dornemann sold 1,151 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $217.02, for a total value of $249,790.02. Following the completion of the sale, the director owned 20,374 shares in the company, valued at approximately $4,421,565.48. This trade represents a 5.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Karl Slatoff sold 40,358 shares of Take-Two Interactive Software stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $216.09, for a total transaction of $8,720,960.22. Following the transaction, the president directly owned 40,358 shares in the company, valued at approximately $8,720,960.22. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 569,936 shares of company stock worth $128,431,438 in the last ninety days. 1.12% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on TTWO. BMO Capital Markets restated an "outperform" rating on shares of Take-Two Interactive Software in a report on Tuesday, July 28th. BTIG Research restated a "buy" rating and issued a $293.00 target price on shares of Take-Two Interactive Software in a report on Monday, July 27th. DA Davidson restated a "buy" rating and issued a $300.00 target price on shares of Take-Two Interactive Software in a report on Monday, June 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Take-Two Interactive Software in a research note on Friday, July 10th. Finally, Piper Sandler reissued an "overweight" rating on shares of Take-Two Interactive Software in a report on Tuesday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Take-Two Interactive Software presently has a consensus rating of "Buy" and an average target price of $294.44.

Take-Two Interactive Software Company Profile

Take-Two Interactive Software is an American video game publisher headquartered in New York City. Founded in 1993 by Ryan Brant, the company is publicly traded on the NASDAQ under the ticker TTWO and is led by Chairman and CEO Strauss Zelnick. Take-Two operates through distinct publishing labels that manage development, marketing and distribution of interactive entertainment for a global audience.

Take-Two's publishing portfolio includes Rockstar Games and 2K, as well as the Private Division label, which supports independent and mid-size developers.

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