Take-Two Interactive Software Inc. (TTWO) Rating Lowered to Hold at Zacks Investment Research
Take-Two Interactive Software Inc. (NASDAQ:TTWO) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research 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. “
A number of other research analysts also recently weighed in on the company. Benchmark Co. raised their price target on Take-Two Interactive Software from $45.92 to $51.79 and gave the company a “buy” rating in a research note on Wednesday, September 28th. Cowen and Company restated an “outperform” rating and issued a $45.00 price target on shares of Take-Two Interactive Software in a research note on Tuesday, August 23rd. Jefferies Group restated a “buy” rating and issued a $48.00 price target on shares of Take-Two Interactive Software in a research note on Tuesday, August 23rd. BMO Capital Markets reiterated an “outperform” rating and set a $48.00 target price on shares of Take-Two Interactive Software in a research note on Wednesday, August 10th. Finally, Wedbush reiterated 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. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $43.54.
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Take-Two Interactive Software (NASDAQ:TTWO) traded down 2.593% on Tuesday, reaching $42.635. The company’s stock had a trading volume of 1,225,423 shares. The company has a 50-day moving average price of $44.35 and a 200 day moving average price of $39.66. The company has a market cap of $3.61 billion, a P/E ratio of 177.646 and a beta of 1.12. Take-Two Interactive Software has a 12 month low of $30.28 and a 12 month high of $46.78.
Take-Two Interactive Software (NASDAQ:TTWO) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.21) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.08. The firm earned $311.60 million during the quarter, compared to the consensus estimate of $258.46 million. Take-Two Interactive Software had a return on equity of 20.92% and a net margin of 1.39%. The business’s revenue was down 25.6% compared to the same quarter last year. During the same period last year, the company earned $0.31 earnings per share. On average, equities research 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 company’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $41.01, for a total transaction of $374,585.34. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.50% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Paulson & CO. Inc. acquired a new stake in shares of Take-Two Interactive Software during the second quarter valued at approximately $37,920,000. Alliancebernstein L.P. raised its stake in shares of Take-Two Interactive Software by 29.5% in the second quarter. Alliancebernstein L.P. now owns 4,248,584 shares of the company’s stock valued at $161,106,000 after buying an additional 967,525 shares during the last quarter. EverPoint Asset Management LLC acquired a new stake in shares of Take-Two Interactive Software during the second quarter valued at approximately $35,364,000. Point72 Asset Management L.P. acquired a new stake in shares of Take-Two Interactive Software during the second quarter valued at approximately $33,021,000. Finally, Eagle Asset Management Inc. acquired a new stake in shares of Take-Two Interactive Software during the second quarter valued at approximately $21,468,000.
About Take-Two Interactive Software
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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