Take-Two Interactive Software (NASDAQ:TTWO) Hits New 52-Week Low Following Analyst Downgrade

Take-Two Interactive Software, Inc. (NASDAQ:TTWO) shares reached a new 52-week low during trading on Wednesday after Ascendiant Capital Markets lowered their price target on the stock from $216.00 to $198.00. Ascendiant Capital Markets currently has a buy rating on the stock. Take-Two Interactive Software traded as low as $150.91 and last traded at $151.32, with a volume of 1231 shares trading hands. The stock had previously closed at $152.15.

A number of other analysts have also weighed in on TTWO. Moffett Nathanson assumed coverage on shares of Take-Two Interactive Software in a report on Thursday, June 24th. They set a “buy” rating and a $214.00 target price for the company. Barclays dropped their target price on shares of Take-Two Interactive Software from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, August 3rd. Credit Suisse Group increased their target price on shares of Take-Two Interactive Software from $205.00 to $211.00 and gave the stock a “neutral” rating in a report on Monday, August 2nd. Jefferies Financial Group upgraded shares of Take-Two Interactive Software from a “hold” rating to a “buy” rating and increased their target price for the stock from $185.00 to $231.00 in a report on Thursday, June 3rd. Finally, Zacks Investment Research upgraded shares of Take-Two Interactive Software from a “sell” rating to a “hold” rating and set a $177.00 target price for the company in a report on Tuesday, July 20th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $212.00.

In related news, Director Michael Sheresky sold 159 shares of the firm’s stock in a transaction that occurred on Thursday, August 12th. The shares were sold at an average price of $159.08, for a total value of $25,293.72. Following the sale, the director now owns 61,421 shares in the company, valued at $9,770,852.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of TTWO. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Take-Two Interactive Software by 23,129.3% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 751,003 shares of the company’s stock worth $132,943,000 after acquiring an additional 747,770 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of Take-Two Interactive Software by 200.2% during the 2nd quarter. Macquarie Group Ltd. now owns 896,580 shares of the company’s stock worth $158,713,000 after acquiring an additional 597,872 shares during the last quarter. Primecap Management Co. CA boosted its stake in shares of Take-Two Interactive Software by 28,383.5% during the 1st quarter. Primecap Management Co. CA now owns 484,220 shares of the company’s stock worth $85,562,000 after acquiring an additional 482,520 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Take-Two Interactive Software by 116.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 867,693 shares of the company’s stock worth $153,599,000 after acquiring an additional 467,254 shares during the last quarter. Finally, Alta Capital Management LLC boosted its stake in shares of Take-Two Interactive Software by 117.1% during the 1st quarter. Alta Capital Management LLC now owns 589,194 shares of the company’s stock worth $104,110,000 after acquiring an additional 317,756 shares during the last quarter. Institutional investors and hedge funds own 86.20% of the company’s stock.

The business’s 50 day moving average is $164.06 and its two-hundred day moving average is $172.10. The company has a market cap of $17.79 billion, a PE ratio of 27.12, a PEG ratio of 4.69 and a beta of 0.54.

Take-Two Interactive Software (NASDAQ:TTWO) last released its earnings results on Sunday, August 1st. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.12. Take-Two Interactive Software had a net margin of 19.45% and a return on equity of 17.92%. The company had revenue of $711.40 million for the quarter, compared to analysts’ expectations of $685.64 million. During the same quarter in the previous year, the company earned $2.30 EPS. Take-Two Interactive Software’s revenue for the quarter was down 28.6% on a year-over-year basis. Research analysts forecast that Take-Two Interactive Software, Inc. will post 2.97 EPS for the current fiscal year.

About Take-Two Interactive Software (NASDAQ:TTWO)

Take-Two Interactive Software, Inc engages in the development, publishing, and marketing of interactive software games. Its products are designed for console systems, handheld gaming systems, and personal computers, including smart phones and tablets; and are delivered through physical retail, digital download, online platforms, and cloud streaming services.

Read More: What is the Euro STOXX 50 Index?

Receive News & Ratings for Take-Two Interactive Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Take-Two Interactive Software and related companies with MarketBeat.com's FREE daily email newsletter.