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

Fred Alger Management LLC trimmed its position in shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO) by 24.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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.

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

Insider Buying and Selling

In related news, Director Laverne Evans Srinivasan sold 2,000 shares of Take-Two Interactive Software stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $179.17, for a total transaction of $358,340.00. Following the completion of the transaction, the director now directly owns 9,692 shares of the company’s stock, valued at $1,736,515.64. This trade represents a 17.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.45% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Hsbc Global Res upgraded Take-Two Interactive Software from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. HSBC raised Take-Two Interactive Software from a “hold” rating to a “buy” rating and set a $179.00 price target on the stock in a research note on Monday, August 12th. Stifel Nicolaus boosted their price objective on Take-Two Interactive Software from $175.00 to $191.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. Redburn Atlantic initiated coverage on shares of Take-Two Interactive Software in a report on Thursday, August 29th. They issued a “buy” rating and a $194.00 target price on the stock. Finally, The Goldman Sachs Group upped their price target on shares of Take-Two Interactive Software from $186.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Take-Two Interactive Software presently has an average rating of “Moderate Buy” and an average price target of $191.75.

Take-Two Interactive Software Stock Up 1.5 %

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

Take-Two Interactive Software Company 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.