Take-Two Interactive Software Target of Unusually Large Options Trading (NASDAQ:TTWO)

Key Points

• Traders bought an unusually large number of puts—13,823 put options, about 90% above the daily average—while shares fell about 1.6% to $194.97, signaling elevated bearish positioning.
• Corporate insiders have been net sellers, disposing of 65,293 shares worth roughly $13.99 million in the past three months, leaving insiders with about 1.34% ownership.
• Institutional investors own 95.46% of the stock and analysts rate TTWO a "Moderate Buy" on average, with a consensus target of $284.31—well above the current price.

Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Get Free Report) was the recipient of some unusual options trading on Friday. Stock traders bought 13,823 put options on the stock. This represents an increase of 90% compared to the average daily volume of 7,294 put options.

Insider Transactions at Take-Two Interactive Software

In related news, Director Michael Sheresky sold 155 shares of the company's stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $194.73, for a total value of $30,183.15. Following the completion of the transaction, the director directly owned 65,626 shares in the company, valued at approximately $12,779,350.98. This represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ellen F. Siminoff sold 414 shares of the company's stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $245.48, for a total value of $101,628.72. Following the sale, the director owned 2,429 shares of the company's stock, valued at $596,270.92. This represents a 14.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 65,293 shares of company stock valued at $13,994,803. Corporate insiders own 1.34% of the company's stock.

Institutional Investors Weigh In On Take-Two Interactive Software

Institutional investors and hedge funds have recently modified their holdings of the stock. Compass Wealth Management LLC purchased a new stake in shares of Take-Two Interactive Software in the third quarter worth about $3,419,000. AGF Management Ltd. boosted its holdings in Take-Two Interactive Software by 33.1% in the third quarter. AGF Management Ltd. now owns 72,828 shares of the company's stock valued at $18,816,000 after purchasing an additional 18,119 shares during the last quarter. M&G PLC purchased a new position in Take-Two Interactive Software in the third quarter valued at about $12,465,000. Bank of New York Mellon Corp boosted its holdings in Take-Two Interactive Software by 1.9% in the third quarter. Bank of New York Mellon Corp now owns 1,024,509 shares of the company's stock valued at $264,692,000 after purchasing an additional 18,959 shares during the last quarter. Finally, Rakuten Investment Management Inc. purchased a new position in Take-Two Interactive Software in the third quarter valued at about $10,948,000. Hedge funds and other institutional investors own 95.46% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on TTWO. Weiss Ratings restated a "sell (d)" rating on shares of Take-Two Interactive Software in a research note on Wednesday, January 21st. Raymond James Financial upgraded Take-Two Interactive Software from an "outperform" rating to a "strong-buy" rating and set a $285.00 price target for the company in a research note on Tuesday, February 10th. UBS Group upped their price target on Take-Two Interactive Software from $292.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, January 28th. DA Davidson restated a "buy" rating and set a $300.00 price target on shares of Take-Two Interactive Software in a research note on Wednesday, February 4th. Finally, Morgan Stanley upped their price target on Take-Two Interactive Software from $275.00 to $280.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $284.31.

Take-Two Interactive Software Stock Down 1.6%

Shares of NASDAQ TTWO traded down $3.08 on Friday, hitting $194.97. The company had a trading volume of 357,332 shares, compared to its average volume of 2,177,585. Take-Two Interactive Software has a 12-month low of $187.63 and a 12-month high of $264.79. The business has a 50 day moving average of $203.30 and a two-hundred day moving average of $233.11. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $36.10 billion, a P/E ratio of -8.72, a PEG ratio of 3.02 and a beta of 0.96.

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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