Top 5 Stock Picks of Anand Parekh’s Alyeska Investment Group

3. Take-Two Interactive Software, Inc. (NASDAQ:TTWO)

Alyeska Investment Group’s Stake Value: $136.4 million
Percentage of Alyeska Investment Group’s 13F Portfolio: 1.72%
No. of Hedge Fund Holders: 53

Take-Two Interactive Software, Inc. (NASDAQ:TTWO) is engaged in developing, publishing, and marketing interactive entertainment for consumers around the globe. The company develops and publishes products mainly through Rockstar Games, 2K, Private Division, and T2 Mobile Games.

Insider Monkey’s data shows that 53 hedge funds held stakes at the end of the third quarter worth $1.19 billion. At the end of second quarter, 55 hedge funds held stakes in the company.

Andrew Uerkwitz of Jefferies has given a “Buy” rating on the stock and gave a price target of $231.

Jefferies Group, an investment management firm, released its third-quarter 2021 investor letter and mentioned Take-Two Interactive Software, Inc. (NASDAQ:TTWO). Here is what the fund said:

“TakeTwo – TTWO (Buy, $231): TakeTwo’s IP Grand Theft Auto, Red Dead Redemption, and NBA2K are already on the road toward a “Metaverse”. They lack a true economy and many of the attributes needed today to be a Metaverse, but they have high social engagement, brand crossovers, and the start of an economy that makes sense. In our initiation we wrote about Red Dead Online potential – the ability to take on economic roles is already in the game (moonshiner, bounty hunter, trader, naturalist, & collector). Expanding into a bigger economy, cross branding, and expanding the roles/player base would both increase engagement & monetization, but also move it deeper into the Metaverse. NBA2K’s The City is even further along with many virtual stores of phyiscal brands from Jordan, Nike, Reebok, Gatorade, and many others already in the game. Even Jake from State Farm makes an appearance. This mode is built on social interaction and self-expression. Leveraging brands from the majors to smaller indie labels has been ongoing for the nearly a decade. An example of technology being a limiting factor – on current consoles TheCity is far more robust in capabilities, experiences, and number of players vs. older generations. In fact on older generations, the irony isn’t lost on us. The mode is called TheNeighborhood.”