Take-Two Interactive Software, Inc. (NASDAQ:TTWO) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Monday.
According to Zacks, “Take Two reported second quarter fiscal 2018 results where net bookings registered strong growth. The performance was driven by increases in digital revenues and strength in titles like Grand Theft Auto V, Grand Theft Auto Online,NBA 2K17 &2K18 and Monster Legends. Management also raised the fiscal year guidance for net bookings. The company will also continue to benefit from the recent acquisition of mobile games developer, Social Point. Management expects Social Point to contribute 5% of the net bookings in the current fiscal. The company’s attempts to strengthen its presence in the lucrative e-sports market look prudent. Over the past one year, its share price has vastly outperformed the industry. But, hit-driven and competitive nature of the video game industry begets caution.”
Several other equities analysts also recently weighed in on the company. Cowen Inc downgraded Take-Two Interactive Software from an “outperform” rating to a “market perform” rating and set a $83.00 target price on the stock. in a research report on Monday, October 9th. Benchmark Co. restated a “buy” rating and issued a $110.00 target price (up previously from $100.00) on shares of Take-Two Interactive Software in a research report on Saturday, September 16th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $105.00 price target (up previously from $96.00) on shares of Take-Two Interactive Software in a report on Wednesday, September 6th. MKM Partners increased their price target on Take-Two Interactive Software from $97.00 to $122.00 and gave the company a “buy” rating in a report on Monday, October 30th. Finally, Goldman Sachs Group Inc started coverage on Take-Two Interactive Software in a report on Friday, September 8th. They issued a “buy” rating and a $118.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $112.90.
Take-Two Interactive Software (TTWO) traded down $0.21 during midday trading on Monday, hitting $117.67. The stock had a trading volume of 574,785 shares, compared to its average volume of 1,880,867. The stock has a market capitalization of $13,444.57, a P/E ratio of 46.05, a PEG ratio of 3.42 and a beta of 0.82. Take-Two Interactive Software has a 1-year low of $46.27 and a 1-year high of $120.62. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.31 and a current ratio of 1.33.
In other Take-Two Interactive Software news, CFO Lainie Goldstein sold 30,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $115.54, for a total transaction of $3,466,200.00. Following the completion of the sale, the chief financial officer now owns 351,019 shares of the company’s stock, valued at $40,556,735.26. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael Dornemann sold 5,500 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $118.50, for a total value of $651,750.00. Following the sale, the director now directly owns 4,777 shares of the company’s stock, valued at approximately $566,074.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,504 shares of company stock valued at $7,729,606. 1.55% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of TTWO. Jackson Square Partners LLC grew its stake in shares of Take-Two Interactive Software by 137.9% in the third quarter. Jackson Square Partners LLC now owns 3,495,068 shares of the company’s stock valued at $357,300,000 after buying an additional 2,026,010 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Take-Two Interactive Software by 1,045.2% in the second quarter. Renaissance Technologies LLC now owns 1,951,950 shares of the company’s stock valued at $143,234,000 after buying an additional 1,781,500 shares in the last quarter. Harbour Capital Advisors LLC grew its stake in shares of Take-Two Interactive Software by 7,304.4% in the second quarter. Harbour Capital Advisors LLC now owns 1,637,475 shares of the company’s stock valued at $22,315,000 after buying an additional 1,615,360 shares in the last quarter. Macquarie Group Ltd. grew its stake in shares of Take-Two Interactive Software by 110.3% in the third quarter. Macquarie Group Ltd. now owns 1,710,990 shares of the company’s stock valued at $174,914,000 after buying an additional 897,380 shares in the last quarter. Finally, Newbrook Capital Advisors LP acquired a new stake in shares of Take-Two Interactive Software in the second quarter valued at $40,890,000. 90.05% of the stock is owned by institutional investors.
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Take-Two Interactive Software Company Profile
Take-Two Interactive Software, Inc is a developer, publisher and marketer of entertainment for consumers around the world. The Company develops and publishes products through its labels, Rockstar Games and 2K. It operates through publishing segment. It has a portfolio of software content for the hardware platforms in a range of genres, including action, adventure, family/casual, racing, role-playing, shooter, sports and strategy, which it distributes across the world.
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