Blue Grotto Capital LLC Sells 10,049 Shares of Take-Two Interactive Software, Inc. $TTWO

Key Points

• Blue Grotto Capital LLC trimmed its position in Take-Two Interactive (TTWO) by 9.7%, selling 10,049 shares and now holding 93,928 shares valued at about $24.27 million, making TTWO its 16th-largest holding (2.8% of its portfolio).
• Analysts have a consensus rating of “Moderate Buy” with an average target price of $284.44; the coverage breakdown is 1 Strong Buy, 16 Buy, 1 Hold and 1 Sell, with recent price-target moves including Wells Fargo cutting to $295 and Morgan Stanley raising to $280.
• Insiders have been net sellers (64,880 shares sold in the last 90 days worth ~$13.9M) and own 1.34% of the stock, which trades around $209.20 with a 52-week range of $188.56–$264.79 and a market cap of $38.74 billion.

Blue Grotto Capital LLC trimmed its position in Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Free Report) by 9.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,928 shares of the company's stock after selling 10,049 shares during the quarter. Take-Two Interactive Software accounts for 2.8% of Blue Grotto Capital LLC's holdings, making the stock its 16th biggest holding. Blue Grotto Capital LLC owned 0.05% of Take-Two Interactive Software worth $24,267,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TTWO. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Take-Two Interactive Software in the third quarter valued at about $26,000. Pinnacle Bancorp Inc. acquired a new stake in Take-Two Interactive Software in the 3rd quarter worth about $29,000. Twin Peaks Wealth Advisors LLC bought a new stake in Take-Two Interactive Software in the 2nd quarter valued at about $27,000. Meeder Asset Management Inc. grew its position in shares of Take-Two Interactive Software by 216.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 136 shares of the company's stock worth $35,000 after purchasing an additional 93 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of Take-Two Interactive Software by 42.9% during the 3rd quarter. Blue Trust Inc. now owns 150 shares of the company's stock worth $39,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 95.46% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Take-Two Interactive Software from $301.00 to $295.00 and set an "overweight" rating for the company in a research report on Wednesday, March 4th. Zacks Research downgraded Take-Two Interactive Software from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 12th. Weiss Ratings restated a "sell (d)" rating on shares of Take-Two Interactive Software in a research note on Wednesday, January 21st. Morgan Stanley upped their target price on Take-Two Interactive Software from $275.00 to $280.00 and gave the company an "overweight" rating in a research report on Tuesday, January 13th. Finally, TD Cowen reissued a "buy" rating on shares of Take-Two Interactive Software in a report on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $284.44.

Take-Two Interactive Software Stock Performance

Shares of NASDAQ:TTWO opened at $209.20 on Friday. Take-Two Interactive Software, Inc. has a 1 year low of $188.56 and a 1 year high of $264.79. The stock has a market capitalization of $38.74 billion, a price-to-earnings ratio of -9.35, a price-to-earnings-growth ratio of 8.65 and a beta of 0.94. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.14 and a quick ratio of 1.14. The company's 50 day simple moving average is $222.21 and its 200 day simple moving average is $239.03.

Insider Transactions at Take-Two Interactive Software

In related news, Director Michael Dornemann sold 1,390 shares of the company's stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $213.09, for a total transaction of $296,195.10. Following the completion of the sale, the director directly owned 21,525 shares in the company, valued at $4,586,762.25. This represents a 6.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel P. Emerson sold 810 shares of the company's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $213.47, for a total value of $172,910.70. Following the sale, the insider owned 124,191 shares of the company's stock, valued at approximately $26,511,052.77. This represents a 0.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 64,880 shares of company stock worth $13,908,337. 1.34% of the stock is owned by insiders.

Take-Two Interactive Software 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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