Townsquare Capital LLC Cuts Stake in Take-Two Interactive Software, Inc. (NASDAQ:TTWO)

Key Points

• Townsquare Capital LLC has significantly decreased its stake in Take-Two Interactive Software, Inc. by 66.2%, bringing its holdings down to 5,442 shares valued at approximately $1,128,000.
• In a recent insider transaction, both President Karl Slatoff and CEO Strauss Zelnick sold 216,661 shares of Take-Two stock, each resulting in a total transaction value of about $48.9 million.
• Research firms are optimistic about Take-Two's future, with several raising their price targets to between $260 and $285, indicating a strong buy sentiment.

Townsquare Capital LLC reduced its stake in shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Free Report) by 66.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,442 shares of the company's stock after selling 10,652 shares during the quarter. Townsquare Capital LLC's holdings in Take-Two Interactive Software were worth $1,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in TTWO. Cerity Partners LLC boosted its position in shares of Take-Two Interactive Software by 10.7% during the 4th quarter. Cerity Partners LLC now owns 8,362 shares of the company's stock valued at $1,539,000 after acquiring an additional 806 shares during the last quarter. CreativeOne Wealth LLC bought a new position in shares of Take-Two Interactive Software during the 4th quarter valued at approximately $220,000. Jump Financial LLC boosted its position in shares of Take-Two Interactive Software by 303.1% during the 4th quarter. Jump Financial LLC now owns 9,642 shares of the company's stock valued at $1,775,000 after acquiring an additional 7,250 shares during the last quarter. United Capital Financial Advisors LLC boosted its position in shares of Take-Two Interactive Software by 12.0% during the 4th quarter. United Capital Financial Advisors LLC now owns 2,169 shares of the company's stock valued at $399,000 after acquiring an additional 233 shares during the last quarter. Finally, Zacks Investment Management boosted its position in shares of Take-Two Interactive Software by 1.4% during the 4th quarter. Zacks Investment Management now owns 28,330 shares of the company's stock valued at $5,215,000 after acquiring an additional 399 shares during the last quarter. 95.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Take-Two Interactive Software

In other news, President Karl Slatoff sold 216,661 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $225.75, for a total transaction of $48,911,220.75. Following the transaction, the president owned 1,206,427 shares in the company, valued at approximately $272,350,895.25. This trade represents a 15.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Strauss Zelnick sold 216,661 shares of the firm's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $225.75, for a total value of $48,911,220.75. Following the transaction, the chief executive officer owned 1,206,427 shares in the company, valued at approximately $272,350,895.25. This represents a 15.22% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 460,792 shares of company stock worth $104,014,443. Corporate insiders own 1.34% of the company's stock.

Take-Two Interactive Software Stock Performance

Shares of Take-Two Interactive Software stock opened at $233.16 on Friday. The firm has a market cap of $43.01 billion, a P/E ratio of -9.74, a P/E/G ratio of 5.94 and a beta of 0.99. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.72. Take-Two Interactive Software, Inc. has a 12 month low of $145.50 and a 12 month high of $245.07. The stock's fifty day moving average price is $233.69 and its 200-day moving average price is $220.30.

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, beating the consensus estimate of $0.28 by $0.33. The firm had revenue of $1,503,800 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter last year, the firm posted ($1.52) earnings per share. On average, equities research analysts expect that Take-Two Interactive Software, Inc. will post 0.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on TTWO. Bank of America increased their target price on Take-Two Interactive Software from $260.00 to $285.00 and gave the company a "buy" rating in a research report on Friday, August 8th. UBS Group increased their target price on Take-Two Interactive Software from $275.00 to $285.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Wedbush raised their price target on Take-Two Interactive Software from $269.00 to $275.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. BMO Capital Markets restated an "outperform" rating and issued a $236.00 price target (down from $240.00) on shares of Take-Two Interactive Software in a research report on Monday, May 5th. Finally, Wells Fargo & Company initiated coverage on Take-Two Interactive Software in a research report on Monday, July 28th. They issued 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 given a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $245.60.

About Take-Two Interactive Software

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.

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