Take-Two Interactive Software, Inc. $TTWO Shares Sold by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company reduced its Take-Two stake by 8.1% in the first quarter, selling 8,094 shares and retaining 91,301 shares valued at approximately $18.0 million. Institutional investors collectively own 95.46% of TTWO.
• Take-Two insiders sold 569,936 shares worth $128.4 million over the past 90 days, including sales by insider Daniel P. Emerson and director Ellen F. Siminoff under pre-arranged Rule 10b5-1 plans.
• TTWO opened at $242.92, down 1.8%, while analysts maintained an overall “Buy” consensus with an average price target of $294.44; most coverage firms rate the stock Buy or Overweight.

The Manufacturers Life Insurance Company lessened its stake in Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Free Report) by 8.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 91,301 shares of the company's stock after selling 8,094 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Take-Two Interactive Software were worth $18,032,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TTWO. MCF Advisors LLC acquired a new position in shares of Take-Two Interactive Software during the fourth quarter worth $25,000. GHP Investment Advisors Inc. acquired a new stake in Take-Two Interactive Software during the 4th quarter valued at $28,000. MV Capital Management Inc. purchased a new stake in Take-Two Interactive Software during the 4th quarter worth $34,000. Rachor Investment Advisory Services LLC purchased a new stake in Take-Two Interactive Software during the 4th quarter worth $34,000. Finally, Reflection Asset Management acquired a new position in Take-Two Interactive Software in the 4th quarter worth $40,000. Institutional investors and hedge funds own 95.46% of the company's stock.

Insider Transactions at Take-Two Interactive Software

In other Take-Two Interactive Software news, insider Daniel P. Emerson sold 4,419 shares of the business's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $230.00, for a total transaction of $1,016,370.00. Following the completion of the transaction, the insider directly owned 113,988 shares of the company's stock, valued at $26,217,240. The trade was a 3.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ellen F. Siminoff sold 334 shares of the company's stock in a transaction dated Wednesday, July 1st. The stock was 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 569,936 shares of company stock worth $128,431,438 over the last 90 days. Corporate insiders own 1.34% of the company's stock.

Take-Two Interactive Software Trading Down 1.8%

TTWO opened at $242.92 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 debt-to-equity ratio of 0.71, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $45.42 billion, a PE ratio of -149.95, a P/E/G ratio of 4.52 and a beta of 0.96. The firm's fifty day moving average price is $234.53 and its 200 day moving average price is $221.68.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TTWO shares. BTIG Research reissued a "buy" rating and issued a $293.00 price objective on shares of Take-Two Interactive Software in a research report on Monday, July 27th. Piper Sandler reaffirmed an "overweight" rating on shares of Take-Two Interactive Software in a research report on Tuesday, June 16th. Benchmark reiterated a "buy" rating on shares of Take-Two Interactive Software in a research note on Friday, May 22nd. 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. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Take-Two Interactive Software in a report on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target 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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