Take-Two Interactive (TTWO) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Take-Two Interactive (NASDAQ:TTWO) from a hold rating to a sell rating in a research note published on Thursday morning.

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.”

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Several other research analysts have also issued reports on the stock. TheStreet raised shares of Take-Two Interactive from a c+ rating to a b rating in a research note on Wednesday, February 7th. KeyCorp reissued a buy rating on shares of Take-Two Interactive in a research note on Tuesday, December 19th. BTIG Research assumed coverage on shares of Take-Two Interactive in a research note on Monday, December 18th. They set a buy rating and a $142.00 target price on the stock. BidaskClub lowered shares of Take-Two Interactive from a strong-buy rating to a buy rating in a research note on Friday, January 26th. Finally, Wedbush set a $126.00 target price on shares of Take-Two Interactive and gave the stock a hold rating in a research note on Thursday, February 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eighteen have issued a buy rating to the stock. Take-Two Interactive currently has a consensus rating of Buy and a consensus price target of $123.48.

NASDAQ:TTWO opened at $97.19 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.17 and a current ratio of 1.18. Take-Two Interactive has a 52 week low of $57.55 and a 52 week high of $129.25. The firm has a market capitalization of $11,192.73, a PE ratio of 50.88, a PEG ratio of 1.54 and a beta of 1.04.

Take-Two Interactive (NASDAQ:TTWO) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $1.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.34. Take-Two Interactive had a net margin of 9.43% and a return on equity of 27.78%. The company had revenue of $653.94 million for the quarter, compared to analyst estimates of $669.08 million. equities research analysts forecast that Take-Two Interactive will post 2.43 earnings per share for the current year.

In other Take-Two Interactive news, CEO Strauss Zelnick sold 252,197 shares of the company’s stock in a transaction on Wednesday, April 4th. The shares were 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 SEC, which is accessible through this hyperlink. Also, President Karl Slatoff sold 227,671 shares of the stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $95.75, for a total transaction of $21,799,498.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 492,559 shares of company stock worth $47,115,477. Corporate insiders own 1.55% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Jackson Square Partners LLC raised its holdings in shares of Take-Two Interactive by 11.6% in the fourth quarter. Jackson Square Partners LLC now owns 3,898,808 shares of the company’s stock valued at $428,011,000 after purchasing an additional 403,740 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Take-Two Interactive by 22.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,390,632 shares of the company’s stock valued at $152,663,000 after purchasing an additional 257,555 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Take-Two Interactive by 12.0% in the fourth quarter. Geode Capital Management LLC now owns 999,479 shares of the company’s stock valued at $109,662,000 after purchasing an additional 106,849 shares during the last quarter. TIAA CREF Investment Management LLC raised its holdings in shares of Take-Two Interactive by 11.4% in the fourth quarter. TIAA CREF Investment Management LLC now owns 932,818 shares of the company’s stock valued at $102,405,000 after purchasing an additional 95,368 shares during the last quarter. Finally, Newbrook Capital Advisors LP raised its holdings in shares of Take-Two Interactive by 6.1% in the fourth quarter. Newbrook Capital Advisors LP now owns 812,272 shares of the company’s stock valued at $89,171,000 after purchasing an additional 46,470 shares during the last quarter. Institutional investors own 91.27% of the company’s stock.

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Take-Two Interactive Company Profile

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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Analyst Recommendations for Take-Two Interactive (NASDAQ:TTWO)

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