Lido Advisors LLC Trims Position in Take-Two Interactive Software, Inc. $TTWO

Key Points

• Lido Advisors cut its Take-Two Interactive Software stake by 67.6% in the first quarter, selling 4,479 shares and retaining 2,149 shares worth approximately $424,000. Institutional investors collectively own 95.46% of TTWO.
• Take-Two insiders have sold 569,936 shares worth about $128.4 million over the past three months, including substantial sales by President Karl Slatoff and Director Ellen Siminoff under pre-arranged Rule 10b5-1 plans.
• Despite the selling, analysts maintain a generally positive view: TTWO has a consensus “Buy” rating and a $294.44 target price, compared with a recent opening price of $242.92.

Lido Advisors LLC lessened its holdings in shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Free Report) by 67.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,149 shares of the company's stock after selling 4,479 shares during the quarter. Lido Advisors LLC's holdings in Take-Two Interactive Software were worth $424,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TTWO. MCF Advisors LLC bought a new position in Take-Two Interactive Software in the 4th quarter worth $25,000. GHP Investment Advisors Inc. bought a new stake in shares of Take-Two Interactive Software during the 4th quarter valued at about $28,000. Rachor Investment Advisory Services LLC bought a new stake in shares of Take-Two Interactive Software during the 4th quarter valued at about $34,000. MV Capital Management Inc. bought a new stake in shares of Take-Two Interactive Software during the 4th quarter valued at about $34,000. Finally, Reflection Asset Management purchased a new position in shares of Take-Two Interactive Software during the fourth quarter valued at about $40,000. Hedge funds and other institutional investors own 95.46% of the company's stock.

Insider Buying and Selling at Take-Two Interactive Software

In other Take-Two Interactive Software news, Director Ellen F. Siminoff sold 334 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $252.53, for a total transaction of $84,345.02. Following the completion of the transaction, the director owned 1,833 shares of the company's stock, valued at approximately $462,887.49. This trade represents a 15.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Karl Slatoff sold 40,358 shares of the firm's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $216.09, for a total value of $8,720,960.22. Following the transaction, the president owned 40,358 shares of the company's stock, valued at $8,720,960.22. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 569,936 shares of company stock valued at $128,431,438 over the last three months. 1.34% of the stock is currently owned by corporate insiders.

Take-Two Interactive Software Stock Down 1.8%

NASDAQ:TTWO opened at $242.92 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.24 and a quick ratio of 1.24. The firm's 50-day moving average price is $234.53 and its 200-day moving average price is $221.68. The company has a market capitalization of $45.42 billion, a PE ratio of -149.95, a P/E/G ratio of 4.60 and a beta of 0.96. Take-Two Interactive Software, Inc. has a 1-year low of $187.63 and a 1-year high of $265.94.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. BMO Capital Markets reissued an "outperform" rating on shares of Take-Two Interactive Software in a research note on Tuesday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Take-Two Interactive Software in a research report on Friday, July 10th. DA Davidson reiterated a "buy" rating and set a $300.00 target price on shares of Take-Two Interactive Software in a report on Monday, June 15th. Bank of America increased their target price on Take-Two Interactive Software from $320.00 to $368.00 and gave the stock a "buy" rating in a research report on Tuesday, June 23rd. Finally, Piper Sandler restated an "overweight" rating on shares of Take-Two Interactive Software in a research note on Tuesday, June 16th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $294.44.

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.

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