Burney Co. Increases Stake in Take-Two Interactive Software, Inc. $TTWO

Key Points

• Burney Co. significantly increased its stake in Take-Two Interactive Software, boosting its holdings by 675.1% in the first quarter to 7,216 shares worth about $1.43 million.
• TTWO shares were down 2.5% in Thursday trading, though the stock has been trading above both its 50-day and 200-day moving averages.
• Analysts remain mostly bullish on the stock, with a consensus rating of “Moderate Buy” and an average price target of $293, even as several insiders have recently sold shares.

Burney Co. raised its position in shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Free Report) by 675.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,216 shares of the company's stock after purchasing an additional 6,285 shares during the quarter. Burney Co.'s holdings in Take-Two Interactive Software were worth $1,425,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new position in Take-Two Interactive Software in the 1st quarter valued at approximately $425,000. Empowered Funds LLC lifted its holdings in shares of Take-Two Interactive Software by 13.2% during the first quarter. Empowered Funds LLC now owns 3,322 shares of the company's stock valued at $688,000 after purchasing an additional 388 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Take-Two Interactive Software by 118.7% during the first quarter. Geneos Wealth Management Inc. now owns 304 shares of the company's stock valued at $63,000 after buying an additional 165 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Take-Two Interactive Software in the 2nd quarter worth about $2,747,000. Finally, Jump Financial LLC raised its position in Take-Two Interactive Software by 105.3% in the 2nd quarter. Jump Financial LLC now owns 7,115 shares of the company's stock worth $1,728,000 after buying an additional 3,650 shares during the last quarter. 95.46% of the stock is owned by hedge funds and other institutional investors.

Take-Two Interactive Software Trading Down 2.5%

Take-Two Interactive Software stock opened at $251.38 on Thursday. The business has a 50-day simple moving average of $230.20 and a two-hundred day simple moving average of $222.99. The company has a market cap of $46.67 billion, a P/E ratio of -155.17, a P/E/G ratio of 4.94 and a beta of 0.96. Take-Two Interactive Software, Inc. has a 52-week low of $187.63 and a 52-week high of $265.94. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.71.

Analyst Ratings Changes

Several equities analysts have issued reports on TTWO shares. Benchmark restated a "buy" rating on shares of Take-Two Interactive Software in a research note on Friday, May 22nd. BMO Capital Markets lifted their price target on shares of Take-Two Interactive Software from $280.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, June 25th. Bank of America boosted their price objective on shares of Take-Two Interactive Software from $320.00 to $368.00 and gave the company a "buy" rating in a report on Tuesday, June 23rd. BTIG Research restated a "buy" rating and issued a $293.00 target price on shares of Take-Two Interactive Software in a report on Thursday, July 2nd. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of Take-Two Interactive Software in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Take-Two Interactive Software has a consensus rating of "Moderate Buy" and a consensus price target of $293.00.

Insiders Place Their Bets

In other news, Director Jon J. Moses sold 500 shares of the company's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $215.22, for a total value of $107,610.00. Following the completion of the sale, the director directly owned 22,368 shares in the company, valued at $4,814,040.96. This represents a 2.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Karl Slatoff sold 208,969 shares of the company's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $227.34, for a total value of $47,507,012.46. Following the completion of the sale, the president owned 1,006,021 shares of the company's stock, valued at $228,708,814.14. This trade represents a 17.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 570,349 shares of company stock valued at $128,517,202. 1.34% of the stock is currently owned by corporate insiders.

About Take-Two Interactive Software

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.

Want to see what other hedge funds are holding TTWO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.