Hsbc Holdings PLC Has $94.11 Million Stake in Take-Two Interactive Software, Inc. $TTWO

Key Points

• HSBC Holdings PLC cut its Take-Two Interactive stake by 36.3% in the fourth quarter, but still held 367,377 shares valued at about $94.1 million.
• Institutional ownership in TTWO remains very high at 95.46%, with several firms recently increasing positions, including Norges Bank, AQR Capital Management, and Alyeska Investment Group.
• Investor attention is centered on GTA VI pre-orders starting June 25, which analysts and market reports say could be a major near-term catalyst for Take-Two shares.

Hsbc Holdings PLC trimmed its stake in Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Free Report) by 36.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 367,377 shares of the company's stock after selling 208,991 shares during the quarter. Hsbc Holdings PLC owned 0.20% of Take-Two Interactive Software worth $94,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TTWO. Norges Bank acquired a new position in Take-Two Interactive Software in the 4th quarter valued at approximately $735,389,000. AQR Capital Management LLC boosted its stake in shares of Take-Two Interactive Software by 162.1% during the 4th quarter. AQR Capital Management LLC now owns 1,138,738 shares of the company's stock valued at $291,551,000 after buying an additional 704,316 shares during the period. Alyeska Investment Group L.P. grew its holdings in shares of Take-Two Interactive Software by 44.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,842,927 shares of the company's stock valued at $471,845,000 after acquiring an additional 568,263 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Take-Two Interactive Software by 53.1% during the 4th quarter. Bessemer Group Inc. now owns 1,456,186 shares of the company's stock valued at $372,828,000 after acquiring an additional 505,000 shares in the last quarter. Finally, Amundi increased its stake in shares of Take-Two Interactive Software by 35.4% in the fourth quarter. Amundi now owns 1,805,852 shares of the company's stock worth $462,352,000 after acquiring an additional 472,383 shares during the last quarter. 95.46% of the stock is owned by hedge funds and other institutional investors.

More Take-Two Interactive Software News

Here are the key news stories impacting Take-Two Interactive Software this week:

• Positive Sentiment: Rockstar confirmed GTA VI pre-orders start June 25, fueling expectations for strong demand and making the launch a key near-term catalyst for TTWO. Reuters article on GTA VI pre-orders
• Positive Sentiment: Jefferies said the preorder rollout could be the stock catalyst investors have been waiting for, with pricing and possible trailer details likely to shape expectations for bookings. Jefferies commentary on GTA VI pre-orders
• Positive Sentiment: Several reports noted TTWO shares rose on the preorder news, reflecting investor optimism around the franchise’s revenue potential. TTWO stock rises on GTA VI preorder news
• Neutral Sentiment: Raymond James said May franchise data remained in line with recent trends, suggesting the core business is stable while investors focus on GTA VI-related upside. Raymond James note on TTWO trends
• Negative Sentiment: Two insider sales were disclosed, including a larger sale by executive Daniel Emerson and a smaller sale by director Jon Moses. The transactions were pre-planned, but they may slightly weigh on sentiment. Insider sale by Daniel Emerson Insider sale by Jon Moses

Insider Transactions at Take-Two Interactive Software

In other Take-Two Interactive Software news, insider Daniel P. Emerson sold 4,419 shares of the firm's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $230.00, for a total transaction of $1,016,370.00. Following the transaction, the insider directly owned 113,988 shares in the company, valued at $26,217,240. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Strauss Zelnick sold 208,969 shares of the business's stock in a transaction dated 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 chief executive officer directly owned 1,006,021 shares of the company's stock, valued at $228,708,814.14. This represents a 17.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 569,515 shares of company stock valued at $128,310,552 in the last three months. 1.34% of the stock is currently owned by company insiders.

Take-Two Interactive Software Stock Performance

Shares of TTWO opened at $239.28 on Monday. The firm has a market cap of $44.43 billion, a price-to-earnings ratio of -147.70, a price-to-earnings-growth ratio of 4.73 and a beta of 0.98. The company's fifty day moving average is $220.37 and its 200-day moving average is $222.77. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.71. Take-Two Interactive Software, Inc. has a 12 month low of $187.63 and a 12 month high of $264.79.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wedbush reiterated an "outperform" rating and set a $300.00 price objective on shares of Take-Two Interactive Software in a report on Tuesday, March 3rd. Wells Fargo & Company lowered their target price on Take-Two Interactive Software from $293.00 to $287.00 and set an "overweight" rating on the stock in a research note on Friday, May 22nd. Benchmark reaffirmed a "buy" rating on shares of Take-Two Interactive Software in a research report on Friday, May 22nd. DA Davidson reaffirmed a "buy" rating and set a $300.00 price target on shares of Take-Two Interactive Software in a research note on Monday, June 15th. Finally, Piper Sandler reiterated an "overweight" rating on shares of Take-Two Interactive Software in a report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Take-Two Interactive Software has an average rating of "Moderate Buy" and a consensus price target of $287.06.

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.

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.