Commerce Bank Lowers Stake in Take-Two Interactive Software, Inc. (NASDAQ:TTWO)

Key Points

• Commerce Bank has reduced its holdings in Take-Two Interactive Software, Inc. by 10.9%, now owning 19,301 shares valued at $4 million as of its latest SEC filing.
• Several large investors, including Mackenzie Financial Corp and Stonebridge Financial Group LLC, have increased their positions in Take-Two, demonstrating significant interest from institutional investors.
• Analysts have raised their price targets for Take-Two, with UBS Group setting a new target of $275.00 and maintaining a "buy" rating on the stock, reflecting positive market sentiment.

Commerce Bank reduced its position in shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Free Report) by 10.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,301 shares of the company's stock after selling 2,365 shares during the period. Commerce Bank's holdings in Take-Two Interactive Software were worth $4,000,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Jefferies Financial Group Inc. boosted its position in shares of Take-Two Interactive Software by 46.0% during the 1st quarter. Jefferies Financial Group Inc. now owns 5,443 shares of the company's stock worth $1,128,000 after acquiring an additional 1,715 shares in the last quarter. Wealthquest Corp acquired a new position in Take-Two Interactive Software in the first quarter valued at approximately $729,000. Davis R M Inc. increased its stake in Take-Two Interactive Software by 3.9% in the first quarter. Davis R M Inc. now owns 238,475 shares of the company's stock valued at $49,424,000 after purchasing an additional 9,049 shares during the last quarter. Natixis Advisors LLC raised its stake in Take-Two Interactive Software by 2.9% during the 1st quarter. Natixis Advisors LLC now owns 137,645 shares of the company's stock worth $28,527,000 after acquiring an additional 3,818 shares in the last quarter. Finally, NorthRock Partners LLC grew its holdings in shares of Take-Two Interactive Software by 9.7% during the first quarter. NorthRock Partners LLC now owns 1,667 shares of the company's stock worth $345,000 after purchasing an additional 148 shares during the last quarter. Institutional investors and hedge funds own 95.46% of the company's stock.

Insider Buying and Selling

In other news, CEO Strauss Zelnick sold 216,661 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $225.75, for a total value of $48,911,220.75. Following the sale, the chief executive officer directly owned 1,206,427 shares in the company, valued at $272,350,895.25. This represents a 15.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel P. Emerson sold 27,056 shares of Take-Two Interactive Software stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $225.22, for a total value of $6,093,552.32. Following the sale, the insider owned 152,271 shares of the company's stock, valued at approximately $34,294,474.62. This represents a 15.09% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 460,792 shares of company stock worth $104,014,443. 1.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on TTWO. Benchmark upped their target price on Take-Two Interactive Software from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Raymond James Financial reaffirmed an "outperform" rating and issued a $250.00 target price (up from $240.00) on shares of Take-Two Interactive Software in a report on Friday, May 16th. JPMorgan Chase & Co. raised their price target on Take-Two Interactive Software from $225.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. DA Davidson upped their price objective on Take-Two Interactive Software from $250.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Finally, Wells Fargo & Company assumed coverage on Take-Two Interactive Software in a research report on Monday, July 28th. They set an "overweight" rating and a $265.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Take-Two Interactive Software presently has an average rating of "Moderate Buy" and a consensus price target of $234.05.

Take-Two Interactive Software Price Performance

Shares of NASDAQ:TTWO traded down $0.72 during midday trading on Thursday, hitting $226.49. 2,214,254 shares of the stock were exchanged, compared to its average volume of 2,018,118. Take-Two Interactive Software, Inc. has a twelve month low of $135.24 and a twelve month high of $245.07. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The company has a 50 day moving average price of $233.69 and a 200-day moving average price of $218.57. The stock has a market cap of $41.78 billion, a P/E ratio of -8.92, a PEG ratio of 5.80 and a beta of 0.99.

Take-Two Interactive Software (NASDAQ:TTWO - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.17. Take-Two Interactive Software had a negative net margin of 79.50% and a positive return on equity of 3.74%. On average, research analysts forecast that Take-Two Interactive Software, Inc. will post 0.97 earnings per share for the current year.

Take-Two Interactive Software Company 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.