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

Equities researchers at BTIG Research assumed coverage on shares of Take-Two Interactive Software (NASDAQ:TTWO) in a research note issued to investors on Wednesday,Benzinga reports. The firm set a “buy” rating and a $290.00 price target on the stock. BTIG Research’s price target suggests a potential upside of 19.52% from the stock’s current price.

Several other analysts also recently commented on the stock. Wells Fargo & Company lowered their target price on shares of Take-Two Interactive Software from $293.00 to $287.00 and set an “overweight” rating for the company in a report on Friday, May 22nd. DA Davidson reiterated a “buy” rating and issued a $300.00 price objective on shares of Take-Two Interactive Software in a research note on Monday, June 15th. Bank of America lifted 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 research report on Tuesday. BMO Capital Markets restated an “outperform” rating on shares of Take-Two Interactive Software in a research note on Friday, May 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Take-Two Interactive Software in a report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $292.12.

Take-Two Interactive Software Price Performance

Shares of NASDAQ:TTWO opened at $242.64 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.71. The stock’s fifty day simple moving average is $222.11 and its two-hundred day simple moving average is $222.70. Take-Two Interactive Software has a 1-year low of $187.63 and a 1-year high of $264.79. The stock has a market cap of $45.05 billion, a PE ratio of -149.78, a price-to-earnings-growth ratio of 4.74 and a beta of 0.98.

Insiders Place Their Bets

In other Take-Two Interactive Software news, insider Daniel P. Emerson sold 4,419 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $230.00, for a total value of $1,016,370.00. Following the sale, the insider directly owned 113,988 shares in the company, valued at $26,217,240. The trade was a 3.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Dornemann sold 1,151 shares of Take-Two Interactive Software stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $217.02, for a total value of $249,790.02. Following the completion of the sale, the director directly owned 20,374 shares of the company’s stock, valued at approximately $4,421,565.48. This trade represents a 5.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 570,015 shares of company stock valued at $128,432,857. Company insiders own 1.34% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Take-Two Interactive Software in the fourth quarter worth $735,389,000. AQR Capital Management LLC increased its position in shares of 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 purchasing an additional 704,316 shares during the last quarter. Amundi raised its stake in Take-Two Interactive Software by 38.1% in the first quarter. Amundi now owns 2,493,985 shares of the company’s stock valued at $492,562,000 after purchasing an additional 688,133 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in Take-Two Interactive Software by 44.6% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,842,927 shares of the company’s stock valued at $471,845,000 after purchasing an additional 568,263 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in Take-Two Interactive Software by 53.1% in the 4th quarter. Bessemer Group Inc. now owns 1,456,186 shares of the company’s stock worth $372,828,000 after buying an additional 505,000 shares in the last quarter. 95.46% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Take-Two Interactive Software

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

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.