Take-Two Interactive Software, Inc. (TTWO) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO) from a hold rating to a sell rating in a research report sent to investors on Thursday, July 13th.

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 equities analysts also recently commented on the company. Cowen and Company restated a buy rating and issued a $79.00 target price on shares of Take-Two Interactive Software in a research note on Tuesday, July 11th. Stifel Nicolaus restated a buy rating and issued a $87.00 target price on shares of Take-Two Interactive Software in a research note on Monday, July 10th. BidaskClub downgraded Take-Two Interactive Software from a strong-buy rating to a buy rating in a research note on Tuesday, June 13th. Piper Jaffray Companies lifted their price target on Take-Two Interactive Software from $80.00 to $83.00 and gave the company an overweight rating in a report on Wednesday, June 7th. Finally, Hilliard Lyons cut Take-Two Interactive Software from a neutral rating to an underperform rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $85.22.

Take-Two Interactive Software (NASDAQ:TTWO) traded up 1.11% during mid-day trading on Thursday, hitting $89.30. The stock had a trading volume of 1,100,720 shares. Take-Two Interactive Software has a 12-month low of $40.63 and a 12-month high of $92.22. The firm has a market cap of $9.33 billion, a PE ratio of 52.72 and a beta of 0.83. The company has a 50-day moving average of $78.61 and a 200-day moving average of $66.83.

Take-Two Interactive Software (NASDAQ:TTWO) last issued its earnings results on Wednesday, August 2nd. The company reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.25. Take-Two Interactive Software had a return on equity of 28.89% and a net margin of 8.73%. The company had revenue of $348.30 million during the quarter, compared to the consensus estimate of $280.70 million. During the same period in the previous year, the firm posted ($0.21) earnings per share. Take-Two Interactive Software’s quarterly revenue was up 27.8% compared to the same quarter last year. Analysts expect that Take-Two Interactive Software will post $2.16 earnings per share for the current year.

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In other Take-Two Interactive Software news, Director Michael Dornemann sold 7,000 shares of Take-Two Interactive Software stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $87.80, for a total transaction of $614,600.00. Following the transaction, the director now directly owns 9,394 shares in the company, valued at approximately $824,793.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Strauss Zelnick sold 35,000 shares of Take-Two Interactive Software stock in a transaction that occurred on Thursday, May 25th. The stock was 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. In the last 90 days, insiders sold 146,840 shares of company stock worth $12,280,114. 1.55% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp boosted its position in Take-Two Interactive Software by 6.4% in the first quarter. Fifth Third Bancorp now owns 1,685 shares of the company’s stock valued at $100,000 after buying an additional 101 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Take-Two Interactive Software during the first quarter valued at $114,000. Smithfield Trust Co. purchased a new position in Take-Two Interactive Software during the second quarter valued at $125,000. Crow Point Partners LLC boosted its position in Take-Two Interactive Software by 63.4% in the second quarter. Crow Point Partners LLC now owns 1,775 shares of the company’s stock valued at $129,000 after buying an additional 689 shares during the last quarter. Finally, Fortaleza Asset Management Inc. purchased a new position in Take-Two Interactive Software during the second quarter valued at $134,000. Hedge funds and other institutional investors own 97.30% of the company’s stock.

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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