Nordea Investment Management AB, a prominent investment management firm, recently revealed its increased stake in Take-Two Interactive Software, Inc. during the second quarter of this year. According to their most recent filing with the Securities and Exchange Commission (SEC), Nordea Investment Management AB boosted its ownership of Take-Two Interactive Software shares by an impressive 139.6%. This resulted in the firm acquiring an additional 164,944 shares of the company’s stock, bringing their total holdings to 283,117 shares.
The value of Nordea Investment Management AB’s stake in Take-Two Interactive Software amounts to $41,593,000 as per the latest filing with the SEC. This represents approximately 0.17% ownership of the company for Nordea Investment Management AB. Such a significant increase in ownership indicates growing confidence in Take-Two Interactive Software’s prospects among institutional investors.
Take-Two Interactive Software is a globally recognized developer, publisher, and marketer of interactive entertainment solutions. Their products are well-known under various brand names such as Rockstar Games, 2K, Private Division, and Zynga. The company specializes in the development and publication of action/adventure games, which include popular titles like Grand Theft Auto, Max Payne Midnight Club, LA Noire, and Red Dead Redemption.
This recent surge in investment interest by Nordea Investment Management AB further underscores Take-Two Interactive Software’s appeal within the entertainment industry. The strengthening financial backing from institutional investors augurs well for future growth and expansion opportunities for the company.
Investors and industry observers will undoubtedly monitor this development closely to evaluate its potential impact on Take-Two Interactive Software’s stock performance. As one of the leading players in interactive entertainment solutions worldwide, any shift in investor sentiment towards Take-Two Interactive Software can have implications not only for shareholders but also for consumers who eagerly anticipate new game releases from this acclaimed developer.
In conclusion, Nordea Investment Management AB’s increased stake in Take-Two Interactive Software highlights the company’s attractiveness as an investment opportunity. The development, publication, and marketing of highly popular entertainment solutions under well-established brand names have solidified Take-Two Interactive Software’s position within the industry. With the financial backing from institutional investors like Nordea Investment Management AB, the company is poised for potential growth and continued success in the interactive entertainment market.
Take-Two Interactive Software, Inc.
TTWO
Buy
Updated on: 19/09/2023
Financial Health
Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Institutional Investors Show Confidence in Take-Two Interactive Software, Research Firms Provide Diverse Ratings
On September 18, 2023, it was reported that various institutional investors have made significant moves in the stock of Take-Two Interactive Software. Connectus Wealth LLC increased its holdings in the company by 23.2% during the 1st quarter, adding an additional 3,874 shares to its portfolio. Money Concepts Capital Corp also boosted its holdings in Take-Two Interactive Software by 73.2% during the 4th quarter, acquiring an additional 120 shares. First Horizon Advisors Inc. followed suit and increased its holdings by 50.0% during the 1st quarter, obtaining an additional 94 shares.
Resurgent Financial Advisors LLC entered the scene by purchasing a stake in Take-Two Interactive Software in the 4th quarter valued at around $37,000. Finally, Harbour Investments Inc. experienced a remarkable increase of 60.7% in its holdings during the same timeframe, adding an extra 142 shares to its collection.
These actions have resulted in approximately 89.95% of Take-Two Interactive Software’s stock being owned by hedge funds and other institutional investors.
In addition to these developments from institutional investors, several research firms have provided their insights on Take-Two Interactive (TTWO). Stifel Nicolaus reaffirmed a “buy” rating with a price target of $167.00 for TTWO’s shares on September 13th.
Meanwhile, StockNews.com initiated coverage on Take-Two Interactive Software and rated it as a “sell.” Bank of America has raised its price target on TTWO from $146.00 to $170.00 and labeled it as a “buy.” Morgan Stanley joined the optimistic bandwagon by increasing their price target from $158.00 to $160.00 and providing an “overweight” rating for the company’s stock.
Notably, BMO Capital Markets increased their target price for TTWO from $130.00 to $160.00. These ratings showcase the diverse opinions surrounding Take-Two Interactive Software, with one investment analyst having rated the stock as a sell, four analysts issuing hold ratings, and nineteen analysts offering buy recommendations.
According to Bloomberg, Take-Two Interactive Software’s average rating stands at “Moderate Buy,” with a consensus target price of $147.76.
On Monday, TTWO shares opened at $142.91. The company’s fifty-day simple moving average is calculated to be $144.73, while its two-hundred-day simple moving average stands at $133.87. With a current ratio and quick ratio both measuring 0.82, Take-Two Interactive Software also maintains a debt-to-equity ratio of 0.30.
The 12-month high for TTWO shares is reported to be $153.84, whereas the low rests at $90.00. Furthermore, the company boasts a market capitalization of approximately $24.27 billion.
In its most recent quarterly earnings report released on August 8th, Take-Two Interactive Software announced earnings per share (EPS) of ($0.02), surpassing analysts’ consensus estimates of ($0.07) by $0.05.
Moreover, the company recorded revenue of $1.20 billion for the quarter, aligning with market expectations.
Despite unfavorable headlines regarding negative net margins and a challenging return on equity figure (3.04%), research analysts predict that Take-Two Interactive Software will achieve an encouraging 1-year EPS estimate of 1.65 for the current fiscal year.
Take-Two Interactive Software continues to attract attention from institutional investors and researchers alike due to its promising future prospects in the gaming industry.
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