5 Best Mobile Gaming Stocks to Buy Now

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

Number of Hedge Fund Holders: 53

Ranking 3rd in our list of the best mobile gaming stocks is Take-Two Interactive Software, Inc. (NASDAQ:TTWO), the company behind famous games like Grand Theft Auto and WWE.

Earlier this month, Bank of America upped its earnings and revenue estimates for Take-Two Interactive Software, Inc. (NASDAQ:TTWO). BofA believes Take-Two Interactive Software, Inc. (NASDAQ:TTWO)’s re-accelerating game pipeline is set to “de-risk” expectations for fiscal 2024 guidance. The firm had upgraded Take-Two Interactive Software, Inc. (NASDAQ:TTWO) to Buy back in November 2022.

Take-Two Interactive Software, Inc. (NASDAQ:TTWO) also recently agreed to sell $1 billion aggregate principal amount of its Senior Notes in an underwritten public offering.

Out of the 943 hedge funds tracked by Insider Monkey, 53 hedge funds reported owning stakes in Take-Two Interactive Software, Inc. (NASDAQ:TTWO) as of the end of the fourth quarter of 2022. The total worth of these stakes was $1.7 billion. The biggest hedge fund stakeholder of Take-Two Interactive Software, Inc. (NASDAQ:TTWO) was Steve Cohen’s Point72 Asset Management which owns a $297 million stake in the company.

Diamond Hill All Cap Select Strategy made the following comment about Take-Two Interactive Software, Inc. (NASDAQ:TTWO) in its Q4 2022 investor letter:

“Video game developer Take-Two Interactive Software, Inc. (NASDAQ:TTWO) has faced weakness in the mobile gaming market, in addition to game-launching delays. The company reported underwhelming quarterly results in Q4 and lowered its full-year guidance. After reexamining our long-term thesis, we decided to exit our position in favor of more attractive opportunities.”