Zacks Investment Research downgraded shares of Take-Two Interactive Software Inc. (NASDAQ:TTWO) from a strong-buy rating to a hold rating in a report issued on Tuesday.
According to Zacks, “Take-Two Interactive Software, Inc. is a leading worldwide developer, publisher and distributor of interactive software games. The company’s software operates on multimedia personal computers and video game console platforms. They are one of the largest distributors of interactive software games in the United States and one of the top publishers of interactive software games in Europe. “
Several other research firms have also recently weighed in on TTWO. Benchmark Co. upped their target price on Take-Two Interactive Software from $45.92 to $51.79 and gave the stock a buy rating in a research note on Wednesday, September 28th. Jefferies Group restated a buy rating and set a $48.00 target price on shares of Take-Two Interactive Software in a research note on Monday, August 15th. Wedbush restated a hold rating and set a $41.50 target price on shares of Take-Two Interactive Software in a research note on Monday, August 8th. Stifel Nicolaus upped their target price on Take-Two Interactive Software from $41.00 to $46.00 and gave the stock a buy rating in a research note on Monday, August 8th. Finally, Robert W. Baird reiterated a neutral rating and set a $43.00 price target (up from $37.00) on shares of Take-Two Interactive Software in a report on Saturday, August 6th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $44.15.
Take-Two Interactive Software (NASDAQ:TTWO) opened at 42.69 on Tuesday. Take-Two Interactive Software has a 52-week low of $31.01 and a 52-week high of $46.78. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 177.88 and a beta of 1.12. The stock has a 50 day moving average price of $44.40 and a 200 day moving average price of $39.77.
Take-Two Interactive Software (NASDAQ:TTWO) last released its earnings results on Thursday, August 4th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.08. Take-Two Interactive Software had a return on equity of 20.92% and a net margin of 1.39%. The firm earned $311.60 million during the quarter, compared to analysts’ expectations of $258.46 million. During the same period in the prior year, the company earned $0.31 earnings per share. The company’s quarterly revenue was down 25.6% on a year-over-year basis. Analysts anticipate that Take-Two Interactive Software will post $1.22 EPS for the current fiscal year.
In related news, CEO Strauss Zelnick sold 9,134 shares of the firm’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $41.01, for a total value of $374,585.34. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.50% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its position in shares of Take-Two Interactive Software by 3.8% in the first quarter. State Street Corp now owns 1,809,356 shares of the company’s stock valued at $68,160,000 after buying an additional 65,901 shares during the last quarter. Smith Asset Management Group LP boosted its position in Take-Two Interactive Software by 35.0% in the second quarter. Smith Asset Management Group LP now owns 765,677 shares of the company’s stock valued at $29,035,000 after buying an additional 198,392 shares in the last quarter. Aperio Group LLC boosted its position in Take-Two Interactive Software by 23.3% in the first quarter. Aperio Group LLC now owns 16,999 shares of the company’s stock valued at $640,000 after buying an additional 3,210 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Take-Two Interactive Software during the second quarter valued at approximately $250,000. Finally, Arrowgrass Capital Partners LLP boosted its position in Take-Two Interactive Software by 30.0% in the first quarter. Arrowgrass Capital Partners LLP now owns 325,000 shares of the company’s stock valued at $12,243,000 after buying an additional 75,000 shares in the last quarter.
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.