Czech National Bank Increases Stake in Take-Two Interactive Software

The Czech National Bank has announced a 9.7% increase in its position in shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO – Free Report) during the third quarter, based on its latest disclosure with the Securities and Exchange Commission. After acquiring an additional 2,948 shares, the bank now holds a total of 33,207 shares of the company. As of the end of the last quarter, the value of these holdings was approximately $5,104,000.

In addition to the Czech National Bank, several other institutional investors and hedge funds have made changes to their ownership of Take-Two Interactive Software. For instance, Secured Retirement Advisors LLC made a new investment worth around $953,000 in the fourth quarter. Similarly, Spouting Rock Asset Management LLC acquired shares valued at about $474,000 during the same period. V Square Quantitative Management LLC increased its holdings by 25.6% in the fourth quarter, now owning 3,645 shares totaling approximately $587,000 after buying an additional 742 shares. Virtu Financial LLC also entered the scene with a new investment estimated at $1,380,000. Meanwhile, EP Wealth Advisors LLC made a modest investment of about $213,000. Overall, institutional investors and hedge funds currently possess 95.46% of the company's stock.

Current Stock Performance

As of the latest trading session, Take-Two Interactive Software's stock opened at $155.09. The stock has been fluctuating, having a one-year low of $130.34 and a high of $171.59. The market capitalization of the company currently stands at $26.58 billion, with a price-to-earnings (PE) ratio of -7.06. Furthermore, the price-to-earnings-growth ratio is recorded at 4.47, while the stock has a beta of 0.86. The moving averages for the company are $152.33 for the 50-day period and $151.74 for the 200-day period. Financial metrics reveal a debt-to-equity ratio of 0.51 and both current and quick ratios standing at 0.90.

Take-Two Interactive Software announced its quarterly earnings results on August 8th, revealing that it reported an earnings per share (EPS) of ($0.30). This was better than analysts' average estimate of ($0.39) by $0.09. The company recorded a revenue of $1.22 billion for the quarter, slightly below the projected $1.24 billion. The firm also had a positive return on equity of 1.74%, although it faced a negative net margin of 70.33%. Analysts forecast that Take-Two Interactive Software is set to achieve an EPS of 1.06 for the current fiscal year.

Brokerage Ratings and Price Targets

Recently, multiple brokerages have revised their price targets for Take-Two Interactive Software. Benchmark raised their target from $200.00 to $210.00, designating the stock as a “buy” on August 21st. Meanwhile, Redburn Atlantic initiated coverage with a “buy” rating and a price target of $194.00 on August 29th. Morgan Stanley also increased its price target from $175.00 to $185.00, maintaining an “overweight” rating. HSBC Global Research upgraded the stock from “hold” to “strong-buy” on August 12th. Additionally, another target price upgrade by HSBC set a target of $179.00. There is a consensus among analysts with one holding a “hold” rating, nineteen indicating a “buy,” and one advising a “strong buy.” According to MarketBeat.com, the average rating for Take-Two Interactive Software is “Buy,” with an average price target of $185.85.

Insider Transactions

In related news, Director Michael Sheresky sold 191 shares of Take-Two Interactive Software on August 19th at an average price of $149.83 per share, amounting to a total of approximately $28,617.53. Following this sale, the director retains ownership of 64,378 shares valued at about $9,645,755.74. This transaction did not significantly alter the director’s ownership percentage of the stock. Company insiders currently own about 1.37% of Take-Two Interactive Software’s shares.

Company Overview

Take-Two Interactive Software, Inc. develops, publishes, and markets interactive entertainment solutions on a global scale. The company is well-known for producing action/adventure games under popular brands such as Grand Theft Auto, LA Noire, Max Payne, Midnight Club, and Red Dead Redemption, among others.

Czech, Bank, Take-Two