Bank of America Corp DE Takes $599.40 Million Position in Take-Two Interactive Software, Inc. $TTWO

Key Points

• Bank of America initiated a sizable Take-Two position, purchasing 2.4 million shares worth approximately $599.4 million, or about 1.28% of the company. Institutional investors collectively own 95.46% of TTWO.
• Take-Two reported quarterly revenue of $1.53 billion, ahead of estimates, but its adjusted earnings per share of negative $0.18 missed expectations and revenue declined 2.1% year over year.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $296.95, although one firm recently downgraded the stock to “Hold.”

Bank of America Corp DE bought a new stake in Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,397,812 shares of the company's stock, valued at approximately $599,405,000. Bank of America Corp DE owned approximately 1.28% of Take-Two Interactive Software at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Mayflower Financial Advisors LLC lifted its holdings in Take-Two Interactive Software by 3.6% during the 1st quarter. Mayflower Financial Advisors LLC now owns 1,364 shares of the company's stock valued at $269,000 after purchasing an additional 48 shares during the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. raised its position in Take-Two Interactive Software by 5.7% in the 1st quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 963 shares of the company's stock valued at $190,000 after purchasing an additional 52 shares during the last quarter. Huntington National Bank boosted its stake in Take-Two Interactive Software by 4.5% in the fourth quarter. Huntington National Bank now owns 1,335 shares of the company's stock worth $342,000 after purchasing an additional 57 shares in the last quarter. Trust Asset Management LLC boosted its stake in Take-Two Interactive Software by 3.5% in the second quarter. Trust Asset Management LLC now owns 1,881 shares of the company's stock worth $470,000 after purchasing an additional 63 shares in the last quarter. Finally, R Squared Ltd grew its holdings in shares of Take-Two Interactive Software by 6.6% during the first quarter. R Squared Ltd now owns 1,153 shares of the company's stock worth $228,000 after purchasing an additional 71 shares during the last quarter. Institutional investors and hedge funds own 95.46% of the company's stock.

Take-Two Interactive Software Stock Performance

Take-Two Interactive Software stock opened at $211.91 on Wednesday. The company has a market cap of $39.62 billion, a PE ratio of -122.49, a PEG ratio of 1.55 and a beta of 0.97. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.52. Take-Two Interactive Software, Inc. has a 1 year low of $187.63 and a 1 year high of $265.94. The company's 50-day moving average is $234.65 and its two-hundred day moving average is $224.26.

Take-Two Interactive Software (NASDAQ:TTWO - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.51). Take-Two Interactive Software had a positive return on equity of 12.25% and a negative net margin of 4.79%.The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the firm earned ($0.07) earnings per share. The company's quarterly revenue was down 2.1% on a year-over-year basis. Take-Two Interactive Software has set its Q2 2027 guidance at 0.900-1.000 EPS and its FY 2027 guidance at 5.750-6.000 EPS. Equities analysts anticipate that Take-Two Interactive Software, Inc. will post 5.25 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on TTWO shares. Zacks Research lowered Take-Two Interactive Software from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. BTIG Research upped their price target on shares of Take-Two Interactive Software from $293.00 to $313.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Benchmark reissued a "buy" rating on shares of Take-Two Interactive Software in a report on Monday, August 10th. Wedbush restated an "outperform" rating and issued a $300.00 price objective on shares of Take-Two Interactive Software in a research report on Monday, August 10th. Finally, Bank of America boosted their target price on shares of Take-Two Interactive Software from $320.00 to $368.00 and gave the stock a "buy" rating in a research note on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $296.95.

Insider Activity at Take-Two Interactive Software

In related news, Director LaVerne Srinivasan sold 362 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $245.01, for a total transaction of $88,693.62. Following the sale, the director owned 8,357 shares in the company, valued at approximately $2,047,548.57. This trade represents a 4.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel Emerson sold 744 shares of the firm's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $217.03, for a total value of $161,470.32. Following the completion of the sale, the insider directly owned 112,327 shares in the company, valued at approximately $24,378,328.81. This represents a 0.66% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 43,318 shares of company stock worth $10,874,057 in the last 90 days. Corporate insiders own 1.12% of the company's stock.

Take-Two Interactive Software Company Profile

Take-Two Interactive Software, Inc is a global developer, publisher and marketer of interactive entertainment. The company creates and distributes games for consoles, personal computers and mobile devices, as well as related downloadable content, subscriptions and in-game services.

Take-Two operates through well-known labels including Rockstar Games, 2K and Zynga. Its portfolio includes the Grand Theft Auto, Red Dead Redemption, NBA 2K, WWE 2K, Borderlands, BioShock, Civilization and XCOM franchises, along with mobile and social games such as Zynga's casual and social entertainment offerings.

Founded in 1993 and headquartered in New York City, Take-Two serves customers worldwide through both physical retail channels and digital distribution platforms.

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