Short Interest in Take-Two Interactive Software, Inc. (NASDAQ:TTWO) Rises By 35.6%
Take-Two Interactive Software, Inc. (NASDAQ:TTWO) was the recipient of a large growth in short interest in July. As of July 14th, there was short interest totalling 5,908,171 shares, a growth of 35.6% from the June 30th total of 4,356,652 shares. Based on an average trading volume of 1,838,690 shares, the days-to-cover ratio is presently 3.2 days. Currently, 5.8% of the shares of the stock are short sold.
Shares of Take-Two Interactive Software (TTWO) opened at 81.46 on Thursday. The stock has a 50 day moving average of $75.43 and a 200-day moving average of $64.36. The company has a market cap of $8.01 billion, a price-to-earnings ratio of 113.93 and a beta of 0.82. Take-Two Interactive Software has a 12 month low of $40.00 and a 12 month high of $81.49.
Take-Two Interactive Software (NASDAQ:TTWO) last issued its quarterly earnings data on Tuesday, May 23rd. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.08. Take-Two Interactive Software had a return on equity of 22.89% and a net margin of 3.70%. The business had revenue of $407.20 million for the quarter, compared to analysts’ expectations of $354.10 million. During the same period last year, the business earned $0.46 EPS. The business’s revenue was up 18.9% on a year-over-year basis. On average, analysts forecast that Take-Two Interactive Software will post $1.68 EPS for the current year.
In other Take-Two Interactive Software news, Director Michael Sheresky sold 516 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $76.68, for a total value of $39,566.88. Following the completion of the sale, the director now owns 67,733 shares in the company, valued at approximately $5,193,766.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Strauss Zelnick sold 35,000 shares of the firm’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $78.53, for a total transaction of $2,748,550.00. The disclosure for this sale can be found here. Insiders sold a total of 59,840 shares of company stock valued at $4,644,614 in the last 90 days. Corporate insiders own 2.50% of the company’s stock.
Large investors have recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan raised its stake in shares of Take-Two Interactive Software by 73.4% in the second quarter. Municipal Employees Retirement System of Michigan now owns 40,080 shares of the company’s stock valued at $2,941,000 after buying an additional 16,970 shares during the period. Public Employees Retirement Association of Colorado raised its position in Take-Two Interactive Software by 17.0% in the second quarter. Public Employees Retirement Association of Colorado now owns 21,463 shares of the company’s stock worth $1,575,000 after buying an additional 3,121 shares during the last quarter. Moody Lynn & Lieberson LLC bought a new position in Take-Two Interactive Software during the second quarter worth $1,783,000. ING Groep NV bought a new position in Take-Two Interactive Software during the second quarter worth $927,000. Finally, Breton Hill Capital Ltd. raised its position in Take-Two Interactive Software by 84.5% in the second quarter. Breton Hill Capital Ltd. now owns 15,994 shares of the company’s stock worth $1,174,000 after buying an additional 7,326 shares during the last quarter. 99.80% of the stock is owned by institutional investors.
Several research firms have weighed in on TTWO. Credit Suisse Group restated a “hold” rating and issued a $73.00 price objective on shares of Take-Two Interactive Software in a research report on Wednesday. Stifel Nicolaus reiterated a “buy” rating and set a $87.00 price target on shares of Take-Two Interactive Software in a research report on Monday, July 10th. Zacks Investment Research cut shares of Take-Two Interactive Software from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. BidaskClub upgraded shares of Take-Two Interactive Software from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $65.00 price target on shares of Take-Two Interactive Software in a research report on Tuesday, May 23rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Take-Two Interactive Software presently has a consensus rating of “Buy” and an average price target of $73.29.
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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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