Take-Two Interactive (NASDAQ:TTWO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “Take Two’s biggest problem is that it depends heavily on a handful of franchises, namely Grand Auto Theft and NBA 2K series. The company’s dependence on few customers to drive sales is concerning. Moreover, 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. Estimates have been going down ahead of the company’s Q4 earnings release. However, strength in digital business and foray into e-sports bodes well for long-term growth. Shares have outperformed the industry in the past year.”
Several other equities analysts have also issued reports on TTWO. Wedbush set a $126.00 price target on Take-Two Interactive and gave the stock a “hold” rating in a research report on Thursday, February 8th. Morgan Stanley started coverage on Take-Two Interactive in a research report on Thursday, February 1st. They issued an “overweight” rating and a $150.00 target price for the company. TheStreet raised Take-Two Interactive from a “c+” rating to a “b” rating in a research report on Wednesday, February 7th. BidaskClub lowered Take-Two Interactive from a “hold” rating to a “sell” rating in a research report on Friday, March 30th. Finally, Hilliard Lyons raised Take-Two Interactive from an “underperform” rating to a “neutral” rating in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $123.48.
TTWO opened at $97.19 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.18 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $11,053.16, a PE ratio of 50.88, a P/E/G ratio of 1.52 and a beta of 1.04. Take-Two Interactive has a 1 year low of $57.55 and a 1 year high of $129.25.
Take-Two Interactive (NASDAQ:TTWO) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.34. The firm had revenue of $653.94 million during the quarter, compared to analyst estimates of $669.08 million. Take-Two Interactive had a return on equity of 27.78% and a net margin of 9.43%. sell-side analysts forecast that Take-Two Interactive will post 2.43 earnings per share for the current fiscal year.
In other Take-Two Interactive news, CEO Strauss Zelnick sold 252,197 shares of the business’s stock in a transaction dated Wednesday, April 4th. The stock was sold at an average price of $95.63, for a total transaction of $24,117,599.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Sheresky sold 428 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $108.11, for a total value of $46,271.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 492,559 shares of company stock valued at $47,115,477. Corporate insiders own 1.55% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System grew its stake in shares of Take-Two Interactive by 1.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,900 shares of the company’s stock valued at $3,173,000 after purchasing an additional 500 shares during the period. US Bancorp DE grew its stake in shares of Take-Two Interactive by 42.8% during the 4th quarter. US Bancorp DE now owns 1,689 shares of the company’s stock valued at $185,000 after purchasing an additional 506 shares during the period. Bfsg LLC grew its stake in shares of Take-Two Interactive by 26.4% during the 4th quarter. Bfsg LLC now owns 2,859 shares of the company’s stock valued at $314,000 after purchasing an additional 598 shares during the period. Huntington National Bank grew its stake in shares of Take-Two Interactive by 75.0% during the 4th quarter. Huntington National Bank now owns 1,419 shares of the company’s stock valued at $156,000 after purchasing an additional 608 shares during the period. Finally, Oakbrook Investments LLC grew its stake in shares of Take-Two Interactive by 7.0% during the 4th quarter. Oakbrook Investments LLC now owns 9,500 shares of the company’s stock valued at $1,043,000 after purchasing an additional 625 shares during the period. Institutional investors and hedge funds own 91.27% of the company’s stock.
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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. 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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