Take-Two Interactive Software (NASDAQ:TTWO) Hits New 52-Week High After Analyst Upgrade

Take-Two Interactive Software, Inc. (NASDAQ:TTWO)’s share price hit a new 52-week high during trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $287.00 to $289.00. Wells Fargo & Company currently has an overweight rating on the stock. Take-Two Interactive Software traded as high as $265.94 and last traded at $258.9120, with a volume of 295983 shares changing hands. The stock had previously closed at $258.41.

Several other analysts have also recently issued reports on the stock. Piper Sandler reissued an “overweight” rating on shares of Take-Two Interactive Software in a research report on Tuesday, June 16th. BMO Capital Markets raised their price objective on shares of Take-Two Interactive Software from $280.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, June 25th. Benchmark restated a “buy” rating on shares of Take-Two Interactive Software in a report on Friday, May 22nd. BTIG Research reaffirmed a “buy” rating and set a $293.00 target price on shares of Take-Two Interactive Software in a research note on Thursday, July 2nd. Finally, Bank of America increased their target price on shares of Take-Two Interactive Software from $320.00 to $368.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $293.00.

Insider Activity at Take-Two Interactive Software

In other news, Director Michael Dornemann sold 1,151 shares of Take-Two Interactive Software stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $217.02, for a total value of $249,790.02. Following the completion of the transaction, the director owned 20,374 shares in the company, valued at approximately $4,421,565.48. This trade represents a 5.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel P. Emerson sold 4,419 shares of Take-Two Interactive Software stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $230.00, for a total value of $1,016,370.00. Following the completion of the transaction, the insider owned 113,988 shares of the company’s stock, valued at $26,217,240. The trade was a 3.73% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 570,349 shares of company stock worth $128,517,202 over the last quarter. 1.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. MCF Advisors LLC purchased a new stake in shares of Take-Two Interactive Software during the 4th quarter worth $25,000. GHP Investment Advisors Inc. acquired a new position in shares of Take-Two Interactive Software during the fourth quarter worth $28,000. Essential Partners LLC increased its holdings in Take-Two Interactive Software by 333.3% in the first quarter. Essential Partners LLC now owns 169 shares of the company’s stock valued at $33,000 after buying an additional 130 shares during the last quarter. Rachor Investment Advisory Services LLC purchased a new position in Take-Two Interactive Software in the fourth quarter valued at $34,000. Finally, MV Capital Management Inc. acquired a new stake in Take-Two Interactive Software in the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 95.46% of the company’s stock.

Take-Two Interactive Software Stock Performance

The company has a market capitalization of $48.12 billion, a price-to-earnings ratio of -159.99, a PEG ratio of 4.99 and a beta of 0.96. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a 50 day simple moving average of $228.51 and a two-hundred day simple moving average of $222.84.

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.