Carl Icahn Increases His Stake In Take-Two Interactive To 10.68%


Activist Investor Carl Icahn has slightly increased his stake in video gaming company, Take-Two Interactive Software, Inc. (NASDAQ:TTWO), from 10% recently covered in our articles, to 10.68% according to Take Two Interactive’s latest SEC form 13D filing.

Carl Icahn Increases His Stake In Take-Two Interactive To 10.68%

Carl Icahn’s latest addition boosts his position as the company’s majority holder, giving him a better opportunity in executing his activist controllership. Elsewhere, Citadel Advisors LLC is also noted to have acquired 5.1% in the multimedia and graphics software company.

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Take-Two Interactive Software, Inc. (NASDAQ:TTWO) develops, markets, and publishes interactive entertainment for consumers in the United States and internationally. The company offers its products under labels, including Rockstar Games and 2K, which publishes its titles under 2K Games, 2K Sports, and 2K Play.

Take-Two Interactive Software, Inc. (NASDAQ:TTWO) has 90.75 shares of common stock outstanding, with 75.67 million floated. The company has a market capitalization of $1.00 billion, while the enterprise value stands at $983.74 million, with cash reserves amounting to $328.28 million as per the most recent quarter results.

Carl Icahn is known for insisting on value for investment, and with his current stake which stands at more than 10%, he will definitely push for improvement in the company. Take-Two Interactive Software Inc. (NASDAQ:TTWO) has negative profit and operating margins, while its returns on Assets and Equity stand at 8.69%, and 33.33%, both negative.

The company faces competition from Activision Blizzard, Inc. (NASDAQ:ATVI), a company that Credit Suisse Group AG (NYSE:CS) maintained an outperform rating on. Other competitors include Electronic Arts Inc. (NASDAQ:EA), and the privately held Ubisoft Entertainment SA. However, in terms of growth, Take-Two Interactive Software, Inc. (NASDAQ:TTWO) holds the best prospects, with its 5 years forecast on PEG ratio at 4.5x, way above industry average of 0.47x.

At the time of this writing, Take-Two Interactive Software, Inc. (NASDAQ:TTWO) stock was trading at $11.11 per share, up $0.24, or 2.21% increase from the previous close.