Take-Two Interactive Software (NASDAQ:TTWO) Now Covered by BTIG Research

Key Points

• BTIG Research initiated coverage on Take-Two Interactive Software with a Buy rating and a $290 price target, implying about 19.5% upside from the prior close.
• The stock also has broad Wall Street support, with a consensus Moderate Buy rating and an average price target of $292.12 across analysts.
• Take-Two’s outlook is being boosted by Grand Theft Auto VI developments, including pre-orders starting June 25 and a reported $79.99 launch price for the game, both of which could support future revenue growth.

Equities research analysts at BTIG Research assumed coverage on shares of Take-Two Interactive Software (NASDAQ:TTWO - Get Free Report) in a report released on Wednesday,Benzinga reports. The firm set a "buy" rating and a $290.00 price target on the stock. BTIG Research's target price would indicate a potential upside of 19.52% from the company's previous close.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company lowered their price objective on shares of Take-Two Interactive Software from $293.00 to $287.00 and set an "overweight" rating for the company in a research report on Friday, May 22nd. BMO Capital Markets reaffirmed an "outperform" rating on shares of Take-Two Interactive Software in a report on Friday, May 22nd. Bank of America boosted their price target on Take-Two Interactive Software from $320.00 to $368.00 and gave the stock a "buy" rating in a report on Tuesday. Benchmark reaffirmed a "buy" rating on shares of Take-Two Interactive Software in a research note on Friday, May 22nd. Finally, DA Davidson reiterated a "buy" rating and issued a $300.00 price objective on shares of Take-Two Interactive Software in a report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Take-Two Interactive Software currently has a consensus rating of "Moderate Buy" and a consensus target price of $292.12.

Take-Two Interactive Software Trading Up 1.3%

Shares of TTWO opened at $242.64 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.24 and a current ratio of 1.24. Take-Two Interactive Software has a 52-week low of $187.63 and a 52-week high of $264.79. The firm has a market cap of $45.05 billion, a price-to-earnings ratio of -149.78, a PEG ratio of 4.74 and a beta of 0.98. The business's fifty day moving average is $222.11 and its 200-day moving average is $222.70.

Insider Buying and Selling at Take-Two Interactive Software

In other news, CEO Strauss Zelnick sold 208,969 shares of Take-Two Interactive Software stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $227.34, for a total value of $47,507,012.46. Following the completion of the transaction, the chief executive officer directly owned 1,006,021 shares of the company's stock, valued at approximately $228,708,814.14. This trade represents a 17.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Karl Slatoff sold 40,358 shares of the business's stock in a transaction dated 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 completion of the transaction, the president directly owned 40,358 shares in the company, valued at $8,720,960.22. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 570,015 shares of company stock valued at $128,432,857. 1.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TTWO. MCF Advisors LLC bought a new position in shares of Take-Two Interactive Software during the 4th quarter worth about $25,000. GHP Investment Advisors Inc. acquired a new position in shares of Take-Two Interactive Software during the fourth quarter worth approximately $28,000. MV Capital Management Inc. bought a new position in shares of Take-Two Interactive Software in the 4th quarter worth $34,000. Rachor Investment Advisory Services LLC acquired a new stake in Take-Two Interactive Software in the 4th quarter valued at $34,000. Finally, True Wealth Design LLC lifted its stake in shares of Take-Two Interactive Software by 91.9% in the fourth quarter. True Wealth Design LLC now owns 142 shares of the company's stock valued at $36,000 after buying an additional 68 shares in the last quarter. Institutional investors and hedge funds own 95.46% of the company's stock.

Take-Two Interactive Software News Summary

Here are the key news stories impacting Take-Two Interactive Software this week:

• Positive Sentiment: Rockstar Games announced that pre-orders for Grand Theft Auto VI will begin June 25, reinforcing expectations for strong near-term demand and a major revenue catalyst for Take-Two Interactive Software. Rockstar Games Announces Pre-Orders for Grand Theft Auto VI
• Positive Sentiment: Take-Two priced Grand Theft Auto VI at $79.99 and set the launch date for November 19, a combination that could support stronger monetization and improve sentiment around the company’s growth outlook. Take-Two prices 'Grand Theft Auto VI' at $79.99
• Positive Sentiment: Bank of America raised its price target on Take-Two and reiterated a Buy rating, citing stronger long-term monetization prospects from the GTA franchise and GTA Online. Take-Two Interactive target raised by Bank of America on GTA franchise upside
• Neutral Sentiment: One report noted that Director Jon Moses sold 500 shares, but the transaction was small relative to his remaining holdings and is unlikely to materially affect the stock’s outlook. Jon Moses Sells 500 Shares of Take-Two Interactive Software NASDAQ: TTWO Stock

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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