Short Interest in Take-Two Interactive Software, Inc. (NASDAQ:TTWO) Rises By 72,696.6%

Key Points

• Short interest in Take-Two Interactive Software skyrocketed by 72,696.6% in July, reaching a total of 8,590,000 shares compared to just 11,800 shares at the end of June.
• The company's stock is currently priced at $220.75, down 0.9%, with a market capitalization of $40.72 billion.
• Insiders sold a significant amount of stock recently, with CEO Strauss Zelnick selling 216,661 shares worth approximately $48.9 million, representing a 15.22% decrease in his ownership.

Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Get Free Report) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 8,590,000 shares, agrowthof72,696.6% from the June 30th total of 11,800 shares. Based on an average daily trading volume, of 2,290,000 shares, the days-to-cover ratio is currently 3.8 days. Based on an average daily trading volume, of 2,290,000 shares, the days-to-cover ratio is currently 3.8 days.

Take-Two Interactive Software Stock Down 0.9%

Shares of NASDAQ TTWO traded down $1.98 during mid-day trading on Friday, hitting $220.75. 823,446 shares of the stock traded hands, compared to its average volume of 2,020,769. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.78. Take-Two Interactive Software has a 52 week low of $135.24 and a 52 week high of $245.07. The company has a market cap of $40.72 billion, a price-to-earnings ratio of -8.70, a PEG ratio of 5.75 and a beta of 1.03. The stock has a fifty day moving average price of $233.79 and a 200-day moving average price of $217.40.

Insider Buying and Selling at Take-Two Interactive Software

In other news, insider Daniel P. Emerson sold 27,056 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $225.22, for a total value of $6,093,552.32. Following the sale, the insider owned 152,271 shares of the company's stock, valued at approximately $34,294,474.62. This represents a 15.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Strauss Zelnick sold 216,661 shares of the stock in a transaction dated 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 sale, the chief executive officer directly 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. Over the last quarter, insiders sold 460,792 shares of company stock worth $104,014,443. Corporate insiders own 1.45% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TTWO. ORG Partners LLC increased its position in Take-Two Interactive Software by 115.7% during the second quarter. ORG Partners LLC now owns 110 shares of the company's stock valued at $26,000 after acquiring an additional 59 shares during the last quarter. Blue Trust Inc. increased its position in Take-Two Interactive Software by 101.9% in the second quarter. Blue Trust Inc. now owns 105 shares of the company's stock worth $26,000 after buying an additional 53 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in Take-Two Interactive Software in the fourth quarter worth about $28,000. 1 North Wealth Services LLC purchased a new stake in Take-Two Interactive Software in the first quarter worth about $29,000. Finally, Game Plan Financial Advisors LLC purchased a new stake in Take-Two Interactive Software in the first quarter worth about $31,000. 95.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TTWO. Wall Street Zen cut shares of Take-Two Interactive Software from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. BMO Capital Markets reaffirmed an "outperform" rating and issued a $236.00 price target (down previously from $240.00) on shares of Take-Two Interactive Software in a research note on Monday, May 5th. Wells Fargo & Company began coverage on Take-Two Interactive Software in a research note on Monday. They set an "overweight" rating and a $265.00 target price for the company. UBS Group boosted their price target on Take-Two Interactive Software from $230.00 to $275.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Finally, Citigroup upped their target price on Take-Two Interactive Software from $260.00 to $270.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $234.05.

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.

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