Intech Investment Management LLC Decreases Holdings in Take-Two Interactive Software, Inc. $TTWO

Key Points

• Intech Investment Management LLC cut its stake in Take-Two Interactive by 28.4% in the fourth quarter, selling 9,429 shares and ending with 23,760 shares valued at about $6.08 million.
• Despite that reduction, institutional ownership remains very high, with hedge funds and other institutions holding 95.46% of TTWO shares. Several firms, including Vanguard, Bessemer, State Street, and Amundi, either increased positions or opened new ones.
• Analyst sentiment is generally positive: the stock has a consensus rating of “Moderate Buy” and an average price target of $287.53, though some firms have trimmed targets or downgraded the stock recently.

Intech Investment Management LLC decreased its position in shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Free Report) by 28.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,760 shares of the company's stock after selling 9,429 shares during the quarter. Intech Investment Management LLC's holdings in Take-Two Interactive Software were worth $6,083,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TTWO. Vanguard Group Inc. boosted its stake in shares of Take-Two Interactive Software by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 21,701,533 shares of the company's stock worth $5,606,808,000 after acquiring an additional 932,659 shares in the last quarter. Bessemer Group Inc. raised its position 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 worth $372,828,000 after purchasing an additional 505,000 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in shares of Take-Two Interactive Software during the 3rd quarter worth approximately $112,847,000. State Street Corp raised its position in shares of Take-Two Interactive Software by 4.1% during the 3rd quarter. State Street Corp now owns 11,012,647 shares of the company's stock worth $2,845,084,000 after purchasing an additional 429,083 shares during the last quarter. Finally, Amundi raised its position in shares of Take-Two Interactive Software by 46.4% during the 3rd quarter. Amundi now owns 1,333,469 shares of the company's stock worth $342,675,000 after purchasing an additional 422,510 shares during the last quarter. Hedge funds and other institutional investors own 95.46% of the company's stock.

Take-Two Interactive Software Trading Up 2.9%

TTWO stock opened at $224.16 on Friday. The company has a market cap of $41.62 billion, a price-to-earnings ratio of -138.37, a PEG ratio of 3.42 and a beta of 0.97. The company has a quick ratio of 1.14, a current ratio of 1.24 and a debt-to-equity ratio of 0.71. The business has a fifty day simple moving average of $213.37 and a 200-day simple moving average of $224.90. Take-Two Interactive Software, Inc. has a 52 week low of $187.63 and a 52 week high of $264.79.

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 shares were 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 of the company's stock, valued at approximately $4,586,762.25. This represents a 6.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ellen F. Siminoff sold 413 shares of the company's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $207.66, for a total transaction of $85,763.58. Following the sale, the director directly owned 2,000 shares of the company's stock, valued at approximately $415,320. This trade represents a 17.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 133,026 shares of company stock valued at $29,057,428. Corporate insiders own 1.34% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TTWO shares. Benchmark restated a "buy" rating on shares of Take-Two Interactive Software in a research report on Friday, May 22nd. Raymond James Financial upgraded Take-Two Interactive Software from an "outperform" rating to a "strong-buy" rating and set a $285.00 price objective for the company in a research report on Tuesday, February 10th. Zacks Research downgraded Take-Two Interactive Software from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 12th. Wells Fargo & Company cut their price objective on Take-Two Interactive Software from $293.00 to $287.00 and set an "overweight" rating for the company in a research report on Friday, May 22nd. Finally, DA Davidson restated a "buy" rating and set a $300.00 price objective on shares of Take-Two Interactive Software in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $287.53.

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.

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