Norden Group LLC Cuts Holdings in Take-Two Interactive Software, Inc. (NASDAQ:TTWO)

Key Points

• Norden Group LLC reduced its stake in Take-Two Interactive Software by 67.8%, selling 3,071 shares, leaving them with 1,459 shares valued at $302,000.
• Insider trades included the sale of 216,661 shares by President Karl Slatoff and 414 shares by Director Ellen F. Siminoff, representing significant decreases in their respective shareholdings.
• Analysts are generally optimistic about the company, with 19 buy ratings and a price target averaging $234.05, while Wells Fargo has issued an "overweight" rating with a price target of $265.00.

Norden Group LLC lowered its holdings in Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Free Report) by 67.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,459 shares of the company's stock after selling 3,071 shares during the quarter. Norden Group LLC's holdings in Take-Two Interactive Software were worth $302,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new stake in Take-Two Interactive Software during the fourth quarter worth about $28,000. North Capital Inc. bought a new stake in Take-Two Interactive Software during the first quarter worth about $35,000. Graybill Wealth Management LTD. bought a new stake in shares of Take-Two Interactive Software during the first quarter valued at approximately $37,000. Cullen Frost Bankers Inc. grew its stake in shares of Take-Two Interactive Software by 46.0% during the first quarter. Cullen Frost Bankers Inc. now owns 181 shares of the company's stock valued at $38,000 after purchasing an additional 57 shares during the last quarter. Finally, Global Financial Private Client LLC grew its stake in shares of Take-Two Interactive Software by 50.0% during the first quarter. Global Financial Private Client LLC now owns 237 shares of the company's stock valued at $49,000 after purchasing an additional 79 shares during the last quarter. Institutional investors own 95.46% of the company's stock.

Take-Two Interactive Software Stock Down 1.0%

Shares of Take-Two Interactive Software stock traded down $2.15 during trading hours on Friday, reaching $220.58. The company's stock had a trading volume of 1,396,310 shares, compared to its average volume of 1,658,162. Take-Two Interactive Software, Inc. has a one year low of $135.24 and a one year high of $245.07. The company has a market capitalization of $40.69 billion, a P/E ratio of -8.69, a P/E/G ratio of 5.72 and a beta of 0.99. The stock's fifty day simple moving average is $233.70 and its two-hundred day simple moving average is $217.68. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.78.

Analyst Ratings Changes

TTWO has been the topic of several research analyst reports. Benchmark increased their price target on shares of Take-Two Interactive Software from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Wells Fargo & Company initiated coverage on shares of Take-Two Interactive Software in a research note on Monday. They set an "overweight" rating and a $265.00 price target on the stock. JPMorgan Chase & Co. increased their price target on shares of Take-Two Interactive Software from $225.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Raymond James Financial reissued an "outperform" rating and set a $250.00 price target (up from $240.00) on shares of Take-Two Interactive Software in a research note on Friday, May 16th. Finally, BMO Capital Markets reissued an "outperform" rating and set a $236.00 price target (down from $240.00) on shares of Take-Two Interactive Software in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $234.05.

Insider Activity

In other Take-Two Interactive Software news, Director Ellen F. Siminoff sold 414 shares of Take-Two Interactive Software stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $237.80, for a total value of $98,449.20. Following the sale, the director owned 3,290 shares of the company's stock, valued at approximately $782,362. The trade was a 11.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Strauss Zelnick sold 216,661 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $225.75, for a total transaction of $48,911,220.75. Following the completion of the sale, the chief executive officer directly owned 1,206,427 shares in the company, valued at approximately $272,350,895.25. This trade represents a 15.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 460,792 shares of company stock valued at $104,014,443 over the last ninety days. Company insiders own 1.45% of the company's stock.

Take-Two Interactive Software 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.