Resona Asset Management Co. Ltd. Increases Holdings in Take-Two Interactive Software, Inc. (NASDAQ:TTWO)

Key Points

• Resona Asset Management Co. Ltd. has increased its holdings in Take-Two Interactive Software by 9.2%, owning a total of 56,817 shares valued at approximately $11.8 million.
• Take-Two Interactive reported a quarterly EPS of $0.61, exceeding analyst expectations, with revenues reaching $1.5 billion—a 16.4% increase year-over-year.
• Multiple research analysts have raised their price targets for Take-Two Interactive, with Bank of America setting a target at $285 and maintaining a "buy" rating.

Resona Asset Management Co. Ltd. grew its holdings in shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Free Report) by 9.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,817 shares of the company's stock after purchasing an additional 4,763 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Take-Two Interactive Software were worth $11,804,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Take-Two Interactive Software by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 19,865,489 shares of the company's stock worth $4,117,123,000 after acquiring an additional 506,026 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Take-Two Interactive Software by 1.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,358,309 shares of the company's stock worth $1,110,510,000 after acquiring an additional 89,093 shares during the last quarter. Capital International Investors increased its holdings in Take-Two Interactive Software by 9.5% in the 4th quarter. Capital International Investors now owns 4,883,746 shares of the company's stock worth $899,036,000 after acquiring an additional 424,893 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Take-Two Interactive Software by 0.3% in the 4th quarter. Ameriprise Financial Inc. now owns 4,770,044 shares of the company's stock worth $878,567,000 after acquiring an additional 13,555 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Take-Two Interactive Software by 6.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,527,759 shares of the company's stock worth $833,470,000 after acquiring an additional 287,194 shares during the last quarter. 95.46% of the stock is owned by hedge funds and other institutional investors.

Take-Two Interactive Software Price Performance

Shares of Take-Two Interactive Software stock opened at $236.14 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.16 and a quick ratio of 1.16. The business's 50 day simple moving average is $233.64 and its two-hundred day simple moving average is $219.99. The stock has a market capitalization of $43.56 billion, a P/E ratio of -9.86, a price-to-earnings-growth ratio of 5.85 and a beta of 0.99. Take-Two Interactive Software, Inc. has a one year low of $143.17 and a one year high of $245.07.

Take-Two Interactive Software (NASDAQ:TTWO - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.33. The business had revenue of $1,503,800 billion for the quarter, compared to analysts' expectations of $1.31 billion. Take-Two Interactive Software had a positive return on equity of 7.33% and a negative net margin of 72.92%. The business's quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.52) EPS. Analysts forecast that Take-Two Interactive Software, Inc. will post 0.97 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on TTWO shares. Bank of America raised their target price on Take-Two Interactive Software from $260.00 to $285.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Morgan Stanley raised their target price on Take-Two Interactive Software from $210.00 to $265.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Raymond James Financial lifted their price target on Take-Two Interactive Software from $250.00 to $260.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Benchmark lifted their price target on Take-Two Interactive Software from $250.00 to $275.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Finally, Wells Fargo & Company initiated coverage on Take-Two Interactive Software in a research report on Monday, July 28th. They set an "overweight" rating and a $265.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $245.60.

Insider Buying and Selling

In other Take-Two Interactive Software news, CEO Strauss Zelnick sold 216,661 shares of Take-Two Interactive Software stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $225.75, for a total value of $48,911,220.75. Following the transaction, the chief executive officer directly owned 1,206,427 shares of the company's stock, valued at $272,350,895.25. The trade was a 15.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel P. Emerson sold 27,056 shares of Take-Two Interactive Software stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $225.22, for a total value of $6,093,552.32. Following the completion of the transaction, the insider directly owned 152,271 shares in the company, valued at $34,294,474.62. This trade represents a 15.09% decrease in their ownership of the stock. 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 quarter. Company insiders own 1.34% of the company's stock.

Take-Two Interactive Software Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.