Take-Two Interactive Software (NASDAQ:TTWO) Given Buy Rating at BTIG Research

Key Points

• BTIG Research reaffirmed its “buy” rating on Take-Two Interactive Software and set a $293 price target, implying 26.48% upside from the previous close.
• Analyst sentiment is broadly positive, with 16 buy ratings, one strong buy, one hold and one sell; the consensus rating is “Moderate Buy” with an average price target of $294.44.
• Take-Two shares opened at $231.65, while insiders sold 569,936 shares worth approximately $128.4 million over the past 90 days. Institutional investors own 95.46% of the company.

Take-Two Interactive Software (NASDAQ:TTWO - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at BTIG Research in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $293.00 price target on the stock. BTIG Research's price target suggests a potential upside of 26.48% from the company's previous close.

Several other research analysts also recently commented on the stock. BMO Capital Markets lifted their price target on shares of Take-Two Interactive Software from $280.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, June 25th. Bank of America upped their price objective on shares of Take-Two Interactive Software from $320.00 to $368.00 and gave the company a "buy" rating in a research note on Tuesday, June 23rd. Piper Sandler reiterated an "overweight" rating on shares of Take-Two Interactive Software in a research report on Tuesday, June 16th. DA Davidson reissued a "buy" rating and issued a $300.00 price target on shares of Take-Two Interactive Software in a research note on Monday, June 15th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Take-Two Interactive Software in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $294.44.

Take-Two Interactive Software Stock Performance

NASDAQ:TTWO opened at $231.65 on Monday. The company has a market capitalization of $43.01 billion, a price-to-earnings ratio of -142.99, a PEG ratio of 4.44 and a beta of 0.96. The business has a 50 day moving average of $233.61 and a 200 day moving average of $221.74. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.24 and a quick ratio of 1.24. Take-Two Interactive Software has a 1-year low of $187.63 and a 1-year high of $265.94.

Insider Activity

In other news, President Karl Slatoff sold 40,358 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $216.09, for a total value of $8,720,960.22. Following the transaction, the president owned 40,358 shares in the company, valued at approximately $8,720,960.22. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Dornemann sold 1,151 shares of the company's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $217.02, for a total transaction of $249,790.02. Following the sale, the director owned 20,374 shares of the company's stock, valued at $4,421,565.48. This represents a 5.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 569,936 shares of company stock valued at $128,431,438. Corporate insiders own 1.34% of the company's stock.

Institutional Trading of Take-Two Interactive Software

Institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in Take-Two Interactive Software in the fourth quarter worth about $735,389,000. AQR Capital Management LLC lifted its holdings in Take-Two Interactive Software by 162.1% in the fourth quarter. AQR Capital Management LLC now owns 1,138,738 shares of the company's stock worth $291,551,000 after buying an additional 704,316 shares during the period. Amundi boosted its position in Take-Two Interactive Software by 38.1% during the 1st quarter. Amundi now owns 2,493,985 shares of the company's stock valued at $492,562,000 after acquiring an additional 688,133 shares in the last quarter. Alyeska Investment Group L.P. grew its holdings in shares of Take-Two Interactive Software by 44.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,842,927 shares of the company's stock worth $471,845,000 after acquiring an additional 568,263 shares during the period. Finally, Bessemer Group Inc. grew its holdings in shares of Take-Two Interactive Software by 53.1% during the 4th quarter. Bessemer Group Inc. now owns 1,456,186 shares of the company's stock worth $372,828,000 after acquiring an additional 505,000 shares during the period. 95.46% of the stock is currently owned by hedge funds and other institutional investors.

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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