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Short Interest in Take-Two Interactive Software, Inc. (NASDAQ:TTWO) Declines By 15.1%

Saturday, November 21, 2020 | MarketBeat

Take-Two Interactive Software, Inc. (NASDAQ:TTWO) was the recipient of a large drop in short interest in October. As of October 30th, there was short interest totalling 2,820,000 shares, a drop of 15.1% from the October 15th total of 3,320,000 shares. Based on an average trading volume of 1,220,000 shares, the days-to-cover ratio is currently 2.3 days.

In other Take-Two Interactive Software news, Director Michael Sheresky sold 227 shares of the company's stock in a transaction dated Monday, November 16th. The shares were sold at an average price of $161.35, for a total value of $36,626.45. Following the sale, the director now owns 61,158 shares of the company's stock, valued at $9,867,843.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.09% of the company's stock.

A number of hedge funds have recently bought and sold shares of TTWO. First United Bank Trust raised its position in shares of Take-Two Interactive Software by 0.9% during the third quarter. First United Bank Trust now owns 7,410 shares of the company's stock worth $1,224,000 after purchasing an additional 65 shares during the period. Wealthfront Advisers LLC lifted its stake in Take-Two Interactive Software by 0.9% in the second quarter. Wealthfront Advisers LLC now owns 8,559 shares of the company's stock valued at $1,195,000 after buying an additional 78 shares in the last quarter. Ellevest Inc. boosted its holdings in shares of Take-Two Interactive Software by 37.1% in the third quarter. Ellevest Inc. now owns 307 shares of the company's stock valued at $51,000 after buying an additional 83 shares during the period. Karp Capital Management Corp boosted its holdings in shares of Take-Two Interactive Software by 0.4% in the second quarter. Karp Capital Management Corp now owns 23,744 shares of the company's stock valued at $3,314,000 after buying an additional 84 shares during the period. Finally, M&T Bank Corp increased its position in shares of Take-Two Interactive Software by 1.6% during the third quarter. M&T Bank Corp now owns 5,244 shares of the company's stock worth $866,000 after acquiring an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 93.08% of the company's stock.

TTWO has been the subject of a number of analyst reports. Wedbush reissued an "outperform" rating and issued a $210.00 price target on shares of Take-Two Interactive Software in a report on Friday, November 6th. Barclays lifted their price objective on Take-Two Interactive Software from $196.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, November 6th. MKM Partners upped their target price on shares of Take-Two Interactive Software from $165.00 to $190.00 in a report on Tuesday, August 4th. Evercore ISI assumed coverage on shares of Take-Two Interactive Software in a report on Monday, November 16th. They set an "outperform" rating and a $195.00 price target for the company. Finally, The Goldman Sachs Group upped their price objective on shares of Take-Two Interactive Software from $178.00 to $199.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nineteen have assigned a buy rating to the company. The stock currently has an average rating of "Buy" and an average target price of $167.72.

Shares of NASDAQ:TTWO opened at $170.05 on Friday. The company has a market capitalization of $19.56 billion, a price-to-earnings ratio of 43.60, a P/E/G ratio of 4.06 and a beta of 0.57. The firm's 50 day simple moving average is $163.56 and its 200 day simple moving average is $154.41. Take-Two Interactive Software has a fifty-two week low of $100.00 and a fifty-two week high of $180.61.

Take-Two Interactive Software (NASDAQ:TTWO) last issued its earnings results on Thursday, November 5th. The company reported $2.00 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.97 by $1.03. The firm had revenue of $957.50 million during the quarter, compared to the consensus estimate of $884.68 million. Take-Two Interactive Software had a net margin of 13.22% and a return on equity of 28.26%. The business's quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 earnings per share. On average, equities analysts anticipate that Take-Two Interactive Software will post 3.45 earnings per share for the current year.

About Take-Two Interactive Software

Take-Two Interactive Software, Inc develops, publishes, and markets interactive entertainment solutions for consumers worldwide. The company offers its products under the Rockstar Games and 2K labels, as well as under Private Division and Social Point labels. It develops and publishes action/adventure products under the Grand Theft Auto, Max Payne, Midnight Club, and Red Dead Redemption names; and offers episodes, content, and virtual currency.

See Also: Short Selling

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