Here’s Why Madison Funds Added Take-Two Interactive Software (TTWO) to its Portfolio

Madison Funds, managed by Madison Asset Management, LLC, released its “Madison Mid Cap Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. During the quarter, the fund declined 10.9% compared to a decline of 16.9% for the Russell Midcap Index. In the quarter, insurance companies in the portfolio performed well and contributed to the fund’s performance. In addition, you can check the top 5 holdings of the fund to learn about its best picks in 2022.

Madison Funds discussed stocks like Take-Two Interactive Software, Inc. (NASDAQ:TTWO) in the second quarter investor letter. Headquartered in New York, New York, Take-Two Interactive Software, Inc. (NASDAQ:TTWO) is an America-based video gaming company. On September 22, 2022, Take-Two Interactive Software, Inc. (NASDAQ:TTWO) stock closed at $114.74 per share. One-month return of Take-Two Interactive Software, Inc. (NASDAQ:TTWO) was -9.99% and its shares lost 22.14% of their value over the last 52 weeks. Take-Two Interactive Software, Inc. (NASDAQ:TTWO) has a market capitalization of $19.103 billion.

Here is what Madison Funds specifically said about Take-Two Interactive Software, Inc. (NASDAQ:TTWO) in its Q2 2022 investor letter:

“Take-Two Interactive Software, Inc. (NASDAQ:TTWO) is a leading publisher of video games. Take-Two has a reputation for the high quality of its games, having published industry favorites such as Grand Theft Auto and NBA2K.

The video game industry itself has shed much of its boom-and-bust patterns to become a steadier, more predictable business with high barriers to entry, established title franchises, and high levels of recurring, in-game revenue streams. The company has been investing heavily to step up the number of new title launches over the next few years, a favorable set-up which we believe is not fully reflected in its stock price.”

Take-Two Interactive Software, Inc. (NASDAQ:TTWO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 66 hedge fund portfolios held Take-Two Interactive Software, Inc. (NASDAQ:TTWO) at the end of the second quarter which was 58 in the previous quarter.

We discussed Take-Two Interactive Software, Inc. (NASDAQ:TTWO) in another article and shared the list of stocks stocks to sell according to Orkun Kilic’s Berry Street Capital. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.