Zacks Investment Research Upgrades Take-Two Interactive (TTWO) to Hold
Take-Two Interactive (NASDAQ:TTWO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Take Two is benefiting from higher digital revenues and portfolio strength. Moreover, 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. Estimates have been stable lately ahead of the company’s Q4 earnings release. The company has positive record of earnings surprises in recent quarters. Notably, shares have vastly outperformed the industry in the past year. However, the hit-driven and competitive nature of the video game industry begets caution. The continuous delay in the launch of the much awaited Red Dead Redemption 2 is a concern. Further, higher acquisition costs as well as growing popularity of Epic Games’ Fortnite remain overhang.”
Several other equities analysts have also recently issued reports on the company. Morgan Stanley reduced their price objective on Take-Two Interactive from $148.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, April 19th. ValuEngine upgraded Take-Two Interactive from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. BidaskClub cut Take-Two Interactive from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 9th. Hilliard Lyons upgraded Take-Two Interactive from an “underperform” rating to a “neutral” rating in a research note on Friday, February 9th. Finally, Barclays restated an “overweight” rating and set a $128.00 price objective (up from $121.00) on shares of Take-Two Interactive in a research note on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $128.55.
Take-Two Interactive (NASDAQ:TTWO) last released its quarterly earnings results on Wednesday, May 16th. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. Take-Two Interactive had a net margin of 9.43% and a return on equity of 27.78%. The business had revenue of $411.40 million during the quarter, compared to the consensus estimate of $447.59 million. During the same quarter last year, the company earned $0.89 earnings per share. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. analysts anticipate that Take-Two Interactive will post 2.43 EPS for the current year.
In other Take-Two Interactive news, President Karl Slatoff sold 12,263 shares of the firm’s stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $93.95, for a total value of $1,152,108.85. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Strauss Zelnick sold 252,197 shares of the firm’s stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $95.63, for a total value of $24,117,599.11. The disclosure for this sale can be found here. Insiders sold 492,131 shares of company stock worth $47,069,206 over the last quarter. 1.55% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of TTWO. Nisa Investment Advisors LLC lifted its stake in Take-Two Interactive by 109.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 43,369 shares of the company’s stock valued at $4,761,000 after buying an additional 22,620 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Take-Two Interactive by 1.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,900 shares of the company’s stock valued at $3,173,000 after buying an additional 500 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Take-Two Interactive by 0.7% during the fourth quarter. Bank of Montreal Can now owns 343,324 shares of the company’s stock valued at $37,689,000 after purchasing an additional 2,416 shares in the last quarter. Gulf International Bank UK Ltd bought a new stake in shares of Take-Two Interactive during the fourth quarter valued at about $3,688,000. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Take-Two Interactive by 4.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 434,622 shares of the company’s stock valued at $47,713,000 after purchasing an additional 18,835 shares in the last quarter. Institutional investors own 91.54% of the company’s stock.
About Take-Two Interactive
Take-Two Interactive Software, Inc develops, publishes, and markets interactive entertainment solutions for consumers worldwide. The company offers its products under the Rockstar Games and 2K labels, as well as under Private Division and Social Point labels. It develops and publishes action/adventure products under the Grand Theft Auto, Max Payne, Midnight Club, and Red Dead names through developing sequels; offering downloadable episodes, and content and virtual currency; and releasing titles for smartphones and tablets.
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