Take-Two Interactive sees 33% stake boost, Wedbush Best Ideas nod and 10% slide
Institutional investors boosted their stake in Take-Two Interactive by 33.1% in Q3, with Federated Hermes owning 18,950 shares worth $4.9M. Wedbush Securities added the company to its Best Ideas with a $300 price target while company shares fell 10% over five days, erasing $4.7B in market cap.
1. Federated Hermes Increases Stake Significantly
In its latest SEC filing, Federated Hermes Inc. expanded its position in Take-Two Interactive Software by 33.1% during the third quarter, acquiring 4,708 additional shares to bring its total holding to 18,950 shares. At quarter-end, the value of Federated Hermes’s stake stood at approximately $4.896 million. Other institutional moves during the period included Northstar Advisory Group LLC’s remarkable 538.6% increase—adding 6,178 shares to reach 7,325 shares valued at $1.892 million—and Compass Wealth Management LLC’s entrance with a new position worth about $3.419 million. Overall, hedge funds and institutional investors collectively control more than 95% of Take-Two’s outstanding stock.
2. Insider Sales Reflect Portfolio Rebalancing
Director Michael Sheresky sold 182 shares on November 17 at an average of $235.11, trimming his holding to 65,781 shares worth roughly $15.466 million, a 0.28% reduction in his stake. In mid-January, Director Ellen F. Siminoff divested 414 shares at around $245.48 per share, decreasing her position by 14.56% to 2,429 shares valued at about $596,271. Combined insider sales over the past 90 days amounted to 1,010 shares for $242,102, representing 1.34% of the company’s insider ownership. These transactions suggest a modest reallocation by board members following the company’s strong quarterly performance.
3. Analyst Upgrades and Strategic Catalysts
Wedbush Securities added Take-Two to its Best Ideas list, maintaining an Outperform rating and a one-year target that implies upside from current trading levels. Arete Research upgraded its rating to Buy, while Zacks Research elevated Take-Two to Strong Buy. UBS raised its target in late January, reflecting confidence in the pipeline for Grand Theft Auto VI and the company’s robust recurring-revenue model. With nineteen Buy ratings versus one Hold and one Sell, analysts highlight recurring live-service revenues, the Rockstar and 2K franchises, and anticipated launch catalysts as key drivers for potential share appreciation.