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

Key Points

• Take-Two’s call-option activity surged: Traders purchased 60,076 call options, 413% above the average volume of 11,712. The stock fell $1.41 to $233.50 during Thursday’s trading.
• Analyst sentiment remains broadly positive: Take-Two has a consensus “Buy” rating and an average price target of $294.44, with Bank of America raising its target to $368.
• Insiders have been selling shares: Executives and directors sold 569,936 shares worth approximately $128.4 million over the past quarter, while institutional investors own 95.46% of the company.

Take-Two Interactive Software, Inc. (NASDAQ:TTWO - Get Free Report) saw unusually large options trading on Thursday. Stock traders acquired 60,076 call options on the stock. This represents an increase of 413% compared to the average volume of 11,712 call options.

Take-Two Interactive Software Stock Performance

TTWO stock traded down $1.41 during mid-day trading on Thursday, reaching $233.50. 1,097,311 shares of the stock traded hands, compared to its average volume of 2,243,594. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $43.66 billion, a PE ratio of -144.24, a P/E/G ratio of 4.47 and a beta of 0.97. The business has a 50-day moving average of $235.60 and a two-hundred day moving average of $221.37. Take-Two Interactive Software has a 52 week low of $187.63 and a 52 week high of $265.94.

Insiders Place Their Bets

In other Take-Two Interactive Software news, CEO Strauss Zelnick sold 208,969 shares of the company's 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 sale, the chief executive officer owned 1,006,021 shares in the company, valued at $228,708,814.14. This represents a 17.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jon J. Moses sold 500 shares of the company's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $215.22, for a total value of $107,610.00. Following the transaction, the director directly owned 22,368 shares in the company, valued at $4,814,040.96. This represents a 2.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 569,936 shares of company stock valued at $128,431,438 over the last quarter. Company insiders own 1.12% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Take-Two Interactive Software by 30.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 195 shares of the company's stock worth $50,000 after purchasing an additional 45 shares during the period. First Horizon Corp boosted its holdings in Take-Two Interactive Software by 26.4% in the 4th quarter. First Horizon Corp now owns 220 shares of the company's stock valued at $56,000 after purchasing an additional 46 shares during the last quarter. Hunter Associates Investment Management LLC increased its position in shares of Take-Two Interactive Software by 0.4% during the fourth quarter. Hunter Associates Investment Management LLC now owns 10,780 shares of the company's stock valued at $2,761,000 after acquiring an additional 48 shares during the last quarter. Mayflower Financial Advisors LLC lifted its position in shares of Take-Two Interactive Software by 3.6% during the 1st quarter. Mayflower Financial Advisors LLC now owns 1,364 shares of the company's stock worth $269,000 after purchasing an additional 48 shares during the last quarter. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. raised its position in Take-Two Interactive Software by 5.7% in the 1st quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 963 shares of the company's stock valued at $190,000 after purchasing an additional 52 shares during the last quarter. 95.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TTWO. Bank of America upped their target price on shares of Take-Two Interactive Software from $320.00 to $368.00 and gave the stock a "buy" rating in a report on Tuesday, June 23rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Take-Two Interactive Software in a report on Friday, July 10th. BMO Capital Markets restated an "outperform" rating on shares of Take-Two Interactive Software in a research report on Tuesday, July 28th. BTIG Research reiterated a "buy" rating and set a $293.00 price target on shares of Take-Two Interactive Software in a report on Monday, July 27th. Finally, Benchmark reiterated a "buy" rating on shares of Take-Two Interactive Software in a research report on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $294.44.

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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