Take-Two Interactive Software (NASDAQ:TTWO) Posts Earnings Results, Misses Estimates By $0.90 EPS

Take-Two Interactive Software (NASDAQ:TTWO) announced its quarterly earnings data on Thursday. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.90), FiscalAI reports. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.55 billion. Take-Two Interactive Software had a negative net margin of 60.45% and a positive return on equity of 17.73%.

Take-Two Interactive Software Stock Up 0.6%

TTWO stock traded up $1.46 during trading on Thursday, reaching $238.08. 3,846,594 shares of the stock were exchanged, compared to its average volume of 2,058,914. The firm’s 50 day moving average is $211.01 and its 200 day moving average is $225.99. Take-Two Interactive Software has a twelve month low of $187.63 and a twelve month high of $264.79. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.71. The firm has a market cap of $44.09 billion, a P/E ratio of -10.64, a price-to-earnings-growth ratio of 3.56 and a beta of 0.97.

Insider Transactions at Take-Two Interactive Software

In related news, Director Michael Dornemann sold 1,390 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $213.09, for a total transaction of $296,195.10. Following the transaction, the director directly owned 21,525 shares of the company’s stock, valued at approximately $4,586,762.25. This represents a 6.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Strauss Zelnick sold 52,054 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $214.40, for a total value of $11,160,377.60. Following the transaction, the chief executive officer directly owned 178,702 shares in the company, valued at approximately $38,313,708.80. This trade represents a 22.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 64,724 shares of company stock valued at $13,866,155 in the last 90 days. Corporate insiders own 1.34% of the company’s stock.

Institutional Trading of Take-Two Interactive Software

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Transamerica Financial Advisors LLC increased its holdings in Take-Two Interactive Software by 79.5% during the 4th quarter. Transamerica Financial Advisors LLC now owns 219 shares of the company’s stock worth $56,000 after purchasing an additional 97 shares in the last quarter. EFG International AG bought a new stake in Take-Two Interactive Software during the 4th quarter worth approximately $60,000. DV Equities LLC bought a new stake in Take-Two Interactive Software during the 4th quarter worth approximately $61,000. Geneos Wealth Management Inc. increased its holdings in Take-Two Interactive Software by 118.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 304 shares of the company’s stock worth $63,000 after purchasing an additional 165 shares in the last quarter. Finally, Wexford Capital LP bought a new stake in Take-Two Interactive Software during the 3rd quarter worth approximately $70,000. 95.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Raymond James Financial raised Take-Two Interactive Software from an “outperform” rating to a “strong-buy” rating and set a $285.00 price objective on the stock in a research note on Tuesday, February 10th. DA Davidson reissued a “buy” rating and issued a $300.00 price objective on shares of Take-Two Interactive Software in a research note on Wednesday, February 4th. Wells Fargo & Company dropped their price objective on Take-Two Interactive Software from $295.00 to $293.00 and set an “overweight” rating on the stock in a research note on Monday, April 6th. 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. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Take-Two Interactive Software in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $287.93.

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.