The Oregon Public Employees Retirement Fund has increased its investment in Take-Two Interactive Software, Inc. (NASDAQ: TTWO) by 35.9% during the third quarter of 2023, as per its latest filing with the Securities and Exchange Commission (SEC). Following the acquisition of an additional 5,236 shares, the fund’s total stake now stands at 19,838 shares, valued at approximately $5,125,000.
This move reflects a broader trend among institutional investors, as several have adjusted their positions in Take-Two Interactive. For instance, Private Trust Co. NA boosted its holdings by 27.1%, acquiring an additional 39 shares to reach a total of 183 shares, valued at $47,000. Similarly, Miracle Mile Advisors LLC raised its stake by 0.5%, now owning 7,727 shares worth approximately $1,996,000 after purchasing more shares during the same period.
Other notable changes include Mather Group LLC, which increased its position by 2.7%, and Blue Trust Inc., which lifted its investment by 42.9%. In total, institutional investors and hedge funds control 95.46% of Take-Two Interactive’s stock.
Market Performance and Analyst Ratings
On November 14, 2023, shares of Take-Two Interactive opened at $250.71. The company has experienced a range in its stock price over the past year, with a low of $177.35 and a high of $264.79. Take-Two currently holds a market capitalization of $46.33 billion and reports a price-to-earnings (P/E) ratio of -11.10.
Recent analyst ratings reflect a generally positive outlook for Take-Two. On October 9, DA Davidson raised its price target for the stock from $270.00 to $300.00, assigning a “buy” rating. In a similar vein, Wedbush increased its target from $290.00 to $300.00. Overall, there are currently twenty analysts who have rated the stock as a Buy, three who suggest holding, and one who recommends selling, leading to a consensus rating of “Moderate Buy” with an average price target of $266.86.
Insider Trading Activity
In related news, insider trading activity has seen some movement. On November 14, Ellen F. Siminoff, a director at Take-Two, sold 414 shares at an average price of $235.95, totaling $97,683.30. Following this transaction, Siminoff retains 2,716 shares, valued at around $640,840.20. This sale represents a 13.23% decrease in her ownership.
Another director, Michael Sheresky, sold 182 shares on November 17 at an average price of $235.11, garnering $42,790.02. After this sale, Sheresky owns 65,781 shares valued at approximately $15,465,770.91, reflecting a 0.28% decrease in his stake.
Overall, insiders have sold a total of 1,007 shares in the last three months, with 1.34% of the company’s stock currently held by insiders.
Company Overview
Founded in 1993 and headquartered in New York City, Take-Two Interactive Software is a prominent American video game publisher. The company operates under several publishing labels, including Rockstar Games and 2K, and is committed to delivering quality interactive entertainment worldwide. Strauss Zelnick serves as the Chairman and CEO, guiding the company’s strategic direction.
As the gaming industry continues to expand, Take-Two Interactive remains a significant player, with ongoing interest from institutional investors signaling confidence in its growth potential.
