Take-Two Interactive Software, Inc. $TTWO Shares Acquired by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its Take-Two stake by 436.7% in the first quarter, adding 254,311 shares to own 312,550 shares worth approximately $61.7 million. Institutional investors and hedge funds collectively own 95.46% of TTWO.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $294.44, compared with the stock’s reported price of $231.65.
• Insiders sold 569,936 shares worth approximately $128.4 million during the last quarter, including CEO Strauss Zelnick’s sale of 208,969 shares under a pre-arranged Rule 10b5-1 plan.

Renaissance Technologies LLC increased its stake in Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Free Report) by 436.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 312,550 shares of the company's stock after purchasing an additional 254,311 shares during the quarter. Renaissance Technologies LLC owned 0.17% of Take-Two Interactive Software worth $61,729,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of TTWO. Gamco Investors INC. ET AL raised its holdings in Take-Two Interactive Software by 0.4% during the first quarter. Gamco Investors INC. ET AL now owns 62,688 shares of the company's stock worth $12,381,000 after purchasing an additional 243 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Take-Two Interactive Software by 5.7% during the first quarter. Public Employees Retirement System of Ohio now owns 85,904 shares of the company's stock valued at $16,966,000 after buying an additional 4,652 shares during the period. Inceptionr LLC lifted its stake in shares of Take-Two Interactive Software by 650.6% during the 1st quarter. Inceptionr LLC now owns 8,820 shares of the company's stock worth $1,742,000 after purchasing an additional 7,645 shares during the period. Sei Investments Co. lifted its position in Take-Two Interactive Software by 24.9% during the first quarter. Sei Investments Co. now owns 79,679 shares of the company's stock worth $15,740,000 after buying an additional 15,864 shares during the period. Finally, Davis R M Inc. boosted its position in shares of Take-Two Interactive Software by 4.3% in the first quarter. Davis R M Inc. now owns 255,075 shares of the company's stock worth $50,377,000 after acquiring an additional 10,593 shares during the last quarter. 95.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Take-Two Interactive Software in a research report on Friday, July 10th. Wells Fargo & Company increased their price target on Take-Two Interactive Software from $287.00 to $289.00 and gave the company an "overweight" rating in a report on Tuesday, July 7th. BMO Capital Markets increased their price objective on shares of Take-Two Interactive Software from $280.00 to $285.00 and gave the company an "outperform" rating in a research note on Thursday, June 25th. Bank of America lifted 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, BTIG Research reaffirmed a "buy" rating and set a $293.00 price objective on shares of Take-Two Interactive Software in a research report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $294.44.

Take-Two Interactive Software Price Performance

TTWO stock opened at $231.65 on Monday. Take-Two Interactive Software, Inc. has a 52 week low of $187.63 and a 52 week high of $265.94. The company has a market capitalization of $43.01 billion, a price-to-earnings ratio of -142.99, a price-to-earnings-growth ratio of 4.44 and a beta of 0.96. The firm's 50-day moving average is $233.61 and its two-hundred day moving average is $221.74. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.71.

Insider Activity

In related news, CEO Strauss Zelnick sold 208,969 shares of the firm's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $227.34, for a total transaction of $47,507,012.46. Following the completion of the transaction, the chief executive officer owned 1,006,021 shares of the company's stock, valued at $228,708,814.14. This trade represents a 17.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel P. Emerson sold 21,102 shares of Take-Two Interactive Software stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $219.61, for a total value of $4,634,210.22. Following the transaction, the insider directly owned 131,668 shares in the company, valued at approximately $28,915,609.48. The trade was a 13.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders sold a total of 569,936 shares of company stock worth $128,431,438 in the last quarter. 1.34% of the stock is currently owned by corporate insiders.

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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