Fred Alger Management LLC Cuts Stake in Take-Two Interactive Software, Inc. (NASDAQ:TTWO)

Fred Alger Management LLC cut its stake in shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO) by 24.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 84,892 shares of the company’s stock after selling 27,082 shares during the period. Fred Alger Management LLC’s holdings in Take-Two Interactive Software were worth $13,049,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TTWO. Massachusetts Financial Services Co. MA grew its position in Take-Two Interactive Software by 13.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,393,233 shares of the company’s stock valued at $828,994,000 after purchasing an additional 648,982 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Take-Two Interactive Software by 17.6% in the second quarter. Ameriprise Financial Inc. now owns 4,460,891 shares of the company’s stock worth $694,173,000 after buying an additional 666,198 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Take-Two Interactive Software by 10.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,240,565 shares of the company’s stock valued at $651,817,000 after acquiring an additional 417,325 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in Take-Two Interactive Software by 49.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,619,380 shares of the company’s stock worth $251,797,000 after acquiring an additional 538,906 shares during the last quarter. Finally, DNB Asset Management AS lifted its position in Take-Two Interactive Software by 6.7% in the 2nd quarter. DNB Asset Management AS now owns 1,406,841 shares of the company’s stock valued at $218,750,000 after acquiring an additional 88,908 shares in the last quarter. Hedge funds and other institutional investors own 95.46% of the company’s stock.

Take-Two Interactive Software Stock Performance

Shares of TTWO opened at $188.38 on Friday. The business has a 50-day simple moving average of $164.87 and a two-hundred day simple moving average of $157.54. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.53. Take-Two Interactive Software, Inc. has a 52 week low of $135.24 and a 52 week high of $190.43. The stock has a market cap of $33.08 billion, a price-to-earnings ratio of -8.90, a PEG ratio of 5.59 and a beta of 0.85.

Analysts Set New Price Targets

A number of analysts have commented on TTWO shares. Wedbush reissued an “outperform” rating and issued a $190.00 target price on shares of Take-Two Interactive Software in a report on Thursday, November 7th. Oppenheimer lifted their price objective on Take-Two Interactive Software from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Roth Mkm upped their target price on shares of Take-Two Interactive Software from $182.00 to $208.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Robert W. Baird raised their price target on shares of Take-Two Interactive Software from $172.00 to $181.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Bank of America reissued a “buy” rating and set a $185.00 price objective on shares of Take-Two Interactive Software in a report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Take-Two Interactive Software currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.75.

Insider Activity at Take-Two Interactive Software

In related news, Director Laverne Evans Srinivasan sold 2,000 shares of Take-Two Interactive Software stock in a transaction on Friday, November 8th. The shares were sold at an average price of $179.17, for a total transaction of $358,340.00. Following the transaction, the director now owns 9,692 shares in the company, valued at approximately $1,736,515.64. The trade was a 17.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.45% of the stock is currently owned by corporate insiders.

Take-Two Interactive Software Profile

Take-Two Interactive Software, Inc develops, publishes, and markets interactive entertainment solutions for consumers worldwide. It develops and publishes action/adventure products under the Grand Theft Auto, LA Noire, Max Payne, Midnight Club, and Red Dead Redemption names, as well as other franchises.