BTIG Research Reaffirms “Buy” Rating for Take-Two Interactive Software (NASDAQ:TTWO)

Take-Two Interactive Software (NASDAQ:TTWO)‘s stock had its “buy” rating reiterated by analysts at BTIG Research in a research note issued to investors on Thursday,Benzinga reports. They currently have a $293.00 price objective on the stock. BTIG Research’s price objective suggests a potential upside of 17.05% from the stock’s current price.

Several other equities research analysts also recently commented on TTWO. Bank of America lifted their price objective on Take-Two Interactive Software from $320.00 to $368.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Piper Sandler restated an “overweight” rating on shares of Take-Two Interactive Software in a research note on Tuesday, June 16th. BMO Capital Markets raised their price target on shares of Take-Two Interactive Software from $280.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, June 25th. Benchmark reiterated a “buy” rating on shares of Take-Two Interactive Software in a research note on Friday, May 22nd. Finally, Wells Fargo & Company decreased their price objective 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. 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 assigned a Sell rating to the stock. According to data from MarketBeat, Take-Two Interactive Software presently has a consensus rating of “Moderate Buy” and an average target price of $292.88.

Take-Two Interactive Software Stock Up 0.1%

Take-Two Interactive Software stock opened at $250.32 on Thursday. Take-Two Interactive Software has a 12 month low of $187.63 and a 12 month high of $264.79. The stock has a fifty day simple moving average of $226.06 and a two-hundred day simple moving average of $222.57. 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 firm has a market cap of $46.48 billion, a price-to-earnings ratio of -154.52, a PEG ratio of 4.89 and a beta of 0.96.

Insiders Place Their Bets

In related news, President Karl Slatoff sold 208,969 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $227.34, for a total value of $47,507,012.46. Following the transaction, the president owned 1,006,021 shares of the company’s stock, valued at approximately $228,708,814.14. This trade represents a 17.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jon J. Moses sold 500 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $215.22, for a total transaction of $107,610.00. Following the completion of the transaction, the director directly owned 22,368 shares in the company, valued at approximately $4,814,040.96. The trade was a 2.19% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 570,015 shares of company stock valued at $128,432,857. 1.34% of the stock is currently owned by company insiders.

Institutional Trading of Take-Two Interactive Software

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TTWO. Integrated Wealth Concepts LLC purchased a new stake in shares of Take-Two Interactive Software in the 1st quarter worth $425,000. Empowered Funds LLC grew its holdings in Take-Two Interactive Software by 13.2% during the first quarter. Empowered Funds LLC now owns 3,322 shares of the company’s stock valued at $688,000 after purchasing an additional 388 shares during the period. Geneos Wealth Management Inc. grew its holdings in Take-Two Interactive Software by 118.7% during the first quarter. Geneos Wealth Management Inc. now owns 304 shares of the company’s stock valued at $63,000 after purchasing an additional 165 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Take-Two Interactive Software in the second quarter worth about $2,747,000. Finally, Jump Financial LLC raised its stake in shares of Take-Two Interactive Software by 105.3% in the second quarter. Jump Financial LLC now owns 7,115 shares of the company’s stock worth $1,728,000 after buying an additional 3,650 shares during the period. 95.46% of the stock is owned by hedge funds and other institutional investors.

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.