Pacer Advisors Inc. Reduces Stake in Take-Two Interactive Software, Inc. $TTWO

Key Points

• Pacer Advisors cut its Take-Two Interactive stake by 44% in the first quarter, selling 12,147 shares and retaining 15,451 shares valued at approximately $3.05 million. Institutional investors collectively own 95.46% of the company.
• Insiders reported significant selling, including executive and director transactions, with insiders selling 569,936 shares worth about $128.4 million over the past quarter.
• Analyst sentiment remains broadly positive: Take-Two has a consensus “Buy” rating and an average price target of $295.38, despite the stock trading down 1.0% at $232.47.

Pacer Advisors Inc. reduced its holdings in Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Free Report) by 44.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,451 shares of the company's stock after selling 12,147 shares during the quarter. Pacer Advisors Inc.'s holdings in Take-Two Interactive Software were worth $3,052,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in TTWO. Integrated Wealth Concepts LLC purchased a new position in Take-Two Interactive Software during the 1st quarter valued at $425,000. Empowered Funds LLC lifted its position in shares of Take-Two Interactive Software by 13.2% in the 1st quarter. Empowered Funds LLC now owns 3,322 shares of the company's stock worth $688,000 after purchasing an additional 388 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Take-Two Interactive Software by 118.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 304 shares of the company's stock worth $63,000 after purchasing an additional 165 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Take-Two Interactive Software in the 2nd quarter worth about $2,747,000. Finally, Jump Financial LLC boosted its stake in shares of Take-Two Interactive Software by 105.3% during the 2nd quarter. Jump Financial LLC now owns 7,115 shares of the company's stock valued at $1,728,000 after purchasing an additional 3,650 shares in the last quarter. 95.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Daniel P. Emerson sold 21,102 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $219.61, for a total transaction of $4,634,210.22. Following the sale, the insider directly owned 131,668 shares of the company's stock, valued at approximately $28,915,609.48. This represents a 13.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Michael Dornemann sold 1,151 shares of the firm's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $217.02, for a total transaction of $249,790.02. Following the sale, the director owned 20,374 shares of the company's stock, valued at approximately $4,421,565.48. This represents a 5.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 569,936 shares of company stock worth $128,431,438 over the last quarter. 1.12% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. DA Davidson reiterated a "buy" rating and set a $300.00 price target on shares of Take-Two Interactive Software in a research report on Monday, June 15th. Zacks Research raised Take-Two Interactive Software from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Bank of America upped their target price on Take-Two Interactive Software from $320.00 to $368.00 and gave the stock a "buy" rating in a report on Tuesday, June 23rd. Wells Fargo & Company increased their target price on Take-Two Interactive Software from $287.00 to $289.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Take-Two Interactive Software in a research note on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Take-Two Interactive Software presently has a consensus rating of "Buy" and a consensus target price of $295.38.

Take-Two Interactive Software Trading Down 1.0%

NASDAQ TTWO opened at $232.47 on Friday. Take-Two Interactive Software, Inc. has a 12 month low of $187.63 and a 12 month high of $265.94. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.71. The stock's fifty day moving average price is $235.89 and its 200-day moving average price is $221.32. The stock has a market cap of $43.47 billion, a P/E ratio of -143.50, a P/E/G ratio of 4.37 and a beta of 0.97.

Take-Two Interactive Software 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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