TAKE-TWO INTERACTIVE SOFTWARE, INC (NASDAQ:TTWO) traded up 5.9% during mid-day trading on Tuesday after MKM Partners raised their price target on the stock from $165.00 to $190.00. The company traded as high as $180.61 and last traded at $177.52, 4,544,127 shares were traded during mid-day trading. An increase of 110% from the average session volume of 2,167,065 shares. The stock had previously closed at $167.68.
Several other brokerages have also recently issued reports on TTWO. Zacks Investment Research cut shares of TAKE-TWO INTERACTIVE SOFTWARE from a “strong-buy” rating to a “hold” rating and set a $147.00 price target for the company. in a research report on Friday, June 5th. Credit Suisse Group increased their target price on shares of TAKE-TWO INTERACTIVE SOFTWARE from $167.00 to $171.00 and gave the stock a “neutral” rating in a research note on Tuesday. Barclays upped their target price on shares of TAKE-TWO INTERACTIVE SOFTWARE from $169.00 to $196.00 and gave the stock an “overweight” rating in a research note on Tuesday. BidaskClub raised shares of TAKE-TWO INTERACTIVE SOFTWARE from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Finally, BMO Capital Markets raised shares of TAKE-TWO INTERACTIVE SOFTWARE from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $120.00 to $170.00 in a report on Tuesday, May 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $159.40.
In related news, CEO Strauss Zelnick sold 40,000 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $146.09, for a total transaction of $5,843,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Lainie Goldstein sold 20,000 shares of the company’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $150.00, for a total value of $3,000,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 144,903 shares of company stock worth $20,599,397 in the last three months. Corporate insiders own 1.09% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of TTWO. Melvin Capital Management LP lifted its stake in shares of TAKE-TWO INTERACTIVE SOFTWARE by 207.5% during the 1st quarter. Melvin Capital Management LP now owns 3,382,830 shares of the company’s stock worth $401,237,000 after purchasing an additional 2,282,830 shares during the last quarter. Morgan Stanley raised its stake in TAKE-TWO INTERACTIVE SOFTWARE by 297.7% in the first quarter. Morgan Stanley now owns 1,454,161 shares of the company’s stock valued at $172,478,000 after buying an additional 1,088,556 shares during the last quarter. First Trust Advisors LP raised its stake in TAKE-TWO INTERACTIVE SOFTWARE by 468.2% in the second quarter. First Trust Advisors LP now owns 1,010,926 shares of the company’s stock valued at $141,095,000 after buying an additional 832,998 shares during the last quarter. Carmignac Gestion purchased a new stake in TAKE-TWO INTERACTIVE SOFTWARE in the first quarter valued at about $55,415,000. Finally, Balyasny Asset Management LLC purchased a new stake in TAKE-TWO INTERACTIVE SOFTWARE in the first quarter valued at about $53,214,000. Hedge funds and other institutional investors own 92.22% of the company’s stock.
The business has a 50 day simple moving average of $149.73 and a 200 day simple moving average of $129.50. The company has a quick ratio of 1.70, a current ratio of 1.71 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $20.13 billion, a PE ratio of 45.13, a PEG ratio of 6.91 and a beta of 0.62.
TAKE-TWO INTERACTIVE SOFTWARE (NASDAQ:TTWO) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.36). TAKE-TWO INTERACTIVE SOFTWARE had a net margin of 13.22% and a return on equity of 29.08%. The business had revenue of $996.20 million during the quarter, compared to analysts’ expectations of $845.44 million. During the same quarter last year, the business posted $0.27 earnings per share. The company’s quarterly revenue was up 125.3% compared to the same quarter last year. Equities analysts expect that TAKE-TWO INTERACTIVE SOFTWARE, INC will post 2.43 EPS for the current fiscal year.
TAKE-TWO INTERACTIVE SOFTWARE Company Profile (NASDAQ:TTWO)
Take-Two Interactive Software, Inc develops, publishes, and markets interactive entertainment solutions for consumers worldwide. The company offers its products under the Rockstar Games and 2K labels, as well as under Private Division and Social Point labels. It develops and publishes action/adventure products under the Grand Theft Auto, Max Payne, Midnight Club, and Red Dead names through developing sequels; and offers downloadable episodes, content and virtual currency, and releasing titles for smartphones and tablets.
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