Take-Two Interactive Software (NASDAQ:TTWO) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Take-Two Interactive Software to “strong buy” from “hold.” The broader analyst consensus remains “Buy,” with a consensus price target of $294.44.
• TTWO opened at $247.62, up 1.5%, with a market capitalization of approximately $45.98 billion; its 52-week range is $187.63 to $265.94.
• Insiders sold roughly 569,936 shares worth $128.4 million over the past 90 days, while institutional investors own approximately 95.46% of the company.

Take-Two Interactive Software (NASDAQ:TTWO - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Monday,Zacks.com reports.

A number of other equities analysts have also recently commented on TTWO. Benchmark reissued a "buy" rating on shares of Take-Two Interactive Software in a research note on Friday, May 22nd. Wells Fargo & Company raised their price objective on shares of Take-Two Interactive Software from $287.00 to $289.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. Piper Sandler reaffirmed an "overweight" rating on shares of Take-Two Interactive Software in a report on Tuesday, June 16th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Take-Two Interactive Software in a research report on Friday, July 10th. Finally, BTIG Research reissued a "buy" rating and issued a $293.00 target price on shares of Take-Two Interactive Software in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $294.44.

Take-Two Interactive Software Stock Up 1.5%

TTWO stock opened at $247.62 on Monday. The company's 50 day moving average is $233.84 and its 200 day moving average is $221.60. The stock has a market cap of $45.98 billion, a price-to-earnings ratio of -152.85, a price-to-earnings-growth ratio of 4.68 and a beta of 0.96. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.71. Take-Two Interactive Software has a 1-year low of $187.63 and a 1-year high of $265.94.

Insiders Place Their Bets

In other Take-Two Interactive Software news, President Karl Slatoff sold 40,358 shares of Take-Two Interactive Software stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $216.09, for a total transaction of $8,720,960.22. Following the transaction, the president directly owned 40,358 shares of the company's stock, valued at approximately $8,720,960.22. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 business's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $217.02, for a total transaction of $249,790.02. Following the completion of the sale, the director owned 20,374 shares of the company's stock, valued at approximately $4,421,565.48. The trade was a 5.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 569,936 shares of company stock valued at $128,431,438 over the last 90 days. Company insiders own 1.34% of the company's stock.

Hedge Funds Weigh In On Take-Two Interactive Software

Institutional investors and hedge funds have recently made changes to their positions in the business. LBP AM SA grew its position in Take-Two Interactive Software by 298.2% during the 4th quarter. LBP AM SA now owns 64,611 shares of the company's stock worth $16,542,000 after acquiring an additional 48,384 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in Take-Two Interactive Software by 597.1% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 5,744 shares of the company's stock valued at $1,134,000 after purchasing an additional 4,920 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in Take-Two Interactive Software by 45.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 44,875 shares of the company's stock valued at $11,489,000 after purchasing an additional 14,050 shares during the last quarter. Fiera Capital Corp boosted its stake in shares of Take-Two Interactive Software by 33.9% during the fourth quarter. Fiera Capital Corp now owns 64,403 shares of the company's stock valued at $16,489,000 after purchasing an additional 16,314 shares during the period. Finally, Swedbank AB boosted its stake in shares of Take-Two Interactive Software by 7.6% during the fourth quarter. Swedbank AB now owns 134,638 shares of the company's stock valued at $34,471,000 after purchasing an additional 9,556 shares during the period. Institutional investors own 95.46% of the company's stock.

About Take-Two Interactive Software

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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