Take-Two Interactive Software, Inc. (TTWO) Downgraded by Cowen and Company to Market Perform

Cowen and Company downgraded shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO) from an outperform rating to a market perform rating in a research report report published on Monday, Marketbeat.com reports. They currently have $83.00 target price on the stock.

TTWO has been the subject of a number of other research reports. Stifel Nicolaus reiterated a buy rating and set a $87.00 target price on shares of Take-Two Interactive Software in a research report on Monday, July 10th. Oppenheimer Holdings, Inc. reiterated a buy rating and set a $112.00 target price (up previously from $93.00) on shares of Take-Two Interactive Software in a research report on Monday, September 25th. Jefferies Group LLC reiterated a buy rating and set a $108.00 target price (up previously from $91.00) on shares of Take-Two Interactive Software in a research report on Thursday, August 3rd. Buckingham Research began coverage on shares of Take-Two Interactive Software in a research report on Wednesday, September 20th. They set a buy rating and a $120.00 target price for the company. Finally, MKM Partners reiterated a buy rating and set a $97.00 target price (up previously from $86.00) on shares of Take-Two Interactive Software in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $92.30.

Take-Two Interactive Software (NASDAQ:TTWO) last announced its earnings results on Wednesday, August 2nd. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.25. The business had revenue of $348.30 million during the quarter, compared to analysts’ expectations of $280.70 million. Take-Two Interactive Software had a net margin of 8.73% and a return on equity of 28.89%. The firm’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.21) EPS.

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In other news, CFO Lainie Goldstein sold 30,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $87.68, for a total value of $2,630,400.00. Following the transaction, the chief financial officer now owns 409,019 shares of the company’s stock, valued at approximately $35,862,785.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Dornemann sold 7,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $87.80, for a total transaction of $614,600.00. Following the completion of the transaction, the director now directly owns 9,394 shares in the company, valued at approximately $824,793.20. The disclosure for this sale can be found here. Insiders sold a total of 87,465 shares of company stock worth $7,677,331 in the last ninety days. Insiders own 1.55% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC boosted its stake in Take-Two Interactive Software by 0.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 9,750 shares of the company’s stock worth $715,000 after acquiring an additional 39 shares during the last quarter. Cigna Investments Inc. New boosted its stake in Take-Two Interactive Software by 1.3% during the 2nd quarter. Cigna Investments Inc. New now owns 3,971 shares of the company’s stock worth $291,000 after acquiring an additional 52 shares during the last quarter. J.P. Marvel Investment Advisors LLC boosted its stake in Take-Two Interactive Software by 0.3% during the 2nd quarter. J.P. Marvel Investment Advisors LLC now owns 21,158 shares of the company’s stock worth $1,553,000 after acquiring an additional 63 shares during the last quarter. Fifth Third Bancorp boosted its stake in Take-Two Interactive Software by 6.4% during the 1st quarter. Fifth Third Bancorp now owns 1,685 shares of the company’s stock worth $100,000 after acquiring an additional 101 shares during the last quarter. Finally, First Citizens Bank & Trust Co. boosted its stake in Take-Two Interactive Software by 1.8% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 7,194 shares of the company’s stock worth $528,000 after acquiring an additional 129 shares during the last quarter. 96.69% of the stock is currently owned by institutional investors and hedge funds.

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.

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

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