Deepwater Asset Management LLC Grows Stake in Take-Two Interactive Software, Inc. $TTWO

Deepwater Asset Management LLC raised its stake in Take-Two Interactive Software, Inc. (NASDAQ:TTWO) by 446.1% during the 4th quarter, HoldingsChannel reports. The firm owned 19,626 shares of the company’s stock after acquiring an additional 16,032 shares during the quarter. Take-Two Interactive Software accounts for about 1.5% of Deepwater Asset Management LLC’s portfolio, making the stock its 25th largest position. Deepwater Asset Management LLC’s holdings in Take-Two Interactive Software were worth $5,025,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in TTWO. MCF Advisors LLC purchased a new position in Take-Two Interactive Software in the fourth quarter valued at about $25,000. GHP Investment Advisors Inc. purchased a new position in Take-Two Interactive Software in the fourth quarter valued at about $28,000. Rachor Investment Advisory Services LLC purchased a new position in Take-Two Interactive Software in the fourth quarter valued at about $34,000. True Wealth Design LLC raised its position in Take-Two Interactive Software by 91.9% in the fourth quarter. True Wealth Design LLC now owns 142 shares of the company’s stock valued at $36,000 after purchasing an additional 68 shares during the period. Finally, AlphaQuest LLC purchased a new position in Take-Two Interactive Software in the third quarter valued at about $41,000. 95.46% of the stock is owned by hedge funds and other institutional investors.

Take-Two Interactive Software Stock Performance

Shares of Take-Two Interactive Software stock opened at $214.39 on Monday. The firm has a market cap of $39.81 billion, a PE ratio of -132.34, a price-to-earnings-growth ratio of 3.27 and a beta of 0.98. The firm’s 50-day simple moving average is $215.54 and its 200-day simple moving average is $224.20. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.24 and a current ratio of 1.24. Take-Two Interactive Software, Inc. has a 1 year low of $187.63 and a 1 year high of $264.79.

Wall Street Analyst Weigh In

Several research analysts have commented 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 report on Tuesday, February 10th. Zacks Research downgraded Take-Two Interactive Software from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. BMO Capital Markets restated an “outperform” rating on shares of Take-Two Interactive Software in a research note on Friday, May 22nd. Wedbush restated an “outperform” rating and set a $300.00 target price on shares of Take-Two Interactive Software in a research note on Tuesday, March 3rd. Finally, Piper Sandler initiated coverage on Take-Two Interactive Software in a research note on Tuesday, June 2nd. They set an “overweight” rating and a $280.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Take-Two Interactive Software has an average rating of “Moderate Buy” and a consensus price target of $287.06.

Insider Transactions at Take-Two Interactive Software

In related news, insider Daniel P. Emerson sold 21,102 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $219.61, for a total value of $4,634,210.22. Following the completion of the sale, the insider directly owned 131,668 shares of the company’s stock, valued at $28,915,609.48. The trade was a 13.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Ellen F. Siminoff sold 413 shares of the business’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $207.66, for a total value of $85,763.58. Following the completion of the sale, the director directly owned 2,000 shares of the company’s stock, valued at approximately $415,320. This represents a 17.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 550,597 shares of company stock valued at $124,180,972 over the last 90 days. Corporate insiders own 1.34% of the company’s stock.

Take-Two Interactive Software 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.