Does Smart Money Like Take-Two Interactive Software, Inc. (TTWO)?

Seeing as Take-Two Interactive Software, Inc. (NASDAQ:TTWO) has witnessed bearish sentiment from the entirety of the hedge funds we track, it’s easy to see that there lies a certain “tier” of money managers that slashed their positions entirely in the third quarter. Intriguingly, Charles Davidson’s Wexford Capital dropped the largest position of the “upper crust” of funds tracked by Insider Monkey, comprising about $3.7 million in stock, and Matthew Tewksbury’s Stevens Capital Management was right behind this move, as the fund sold off about $2.4 million worth of shares.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Take-Two Interactive Software, Inc. (NASDAQ:TTWO) but similarly valued. These stocks are Texas Roadhouse Inc (NASDAQ:TXRH), Ubiquiti Networks Inc (NASDAQ:UBNT), First Horizon National Corporation (NYSE:FHN), and Huntsman Corporation (NYSE:HUN). All of these stocks’ market caps match TTWO’s market cap.

As you can see these stocks had an average of 24 funds with bullish positions and the average amount invested in these stocks was $321 million. That figure was $1.23 billion in TTWO’s case. Huntsman Corporation (NYSE:HUN) is the most popular stock in this table with 42 funds holding shares. On the other hand, Ubiquiti Networks Inc (NASDAQ:UBNT) is the least popular one with only 15 bullish hedge fund positions. Compared to these stocks Take-Two Interactive Software, Inc. (NASDAQ:TTWO) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.