Front Barnett Associates LLC decreased its stake in Activision Blizzard, Inc. (NASDAQ:ATVI) by 9.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 141,924 shares of the company’s stock after selling 15,024 shares during the period. Activision Blizzard makes up 1.8% of Front Barnett Associates LLC’s investment portfolio, making the stock its 20th largest holding. Front Barnett Associates LLC’s holdings in Activision Blizzard were worth $11,807,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. raised its position in Activision Blizzard by 16.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,524 shares of the company’s stock worth $345,000 after acquiring an additional 634 shares during the last quarter. Wetherby Asset Management Inc. raised its position in Activision Blizzard by 7.8% during the second quarter. Wetherby Asset Management Inc. now owns 9,385 shares of the company’s stock worth $716,000 after acquiring an additional 680 shares during the last quarter. Mission Wealth Management LP raised its position in Activision Blizzard by 13.5% during the second quarter. Mission Wealth Management LP now owns 6,174 shares of the company’s stock worth $471,000 after acquiring an additional 732 shares during the last quarter. Peregrine Capital Management LLC raised its position in Activision Blizzard by 0.3% during the second quarter. Peregrine Capital Management LLC now owns 243,301 shares of the company’s stock worth $18,569,000 after acquiring an additional 735 shares during the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in Activision Blizzard by 13.8% during the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 6,420 shares of the company’s stock worth $490,000 after acquiring an additional 780 shares during the last quarter. Hedge funds and other institutional investors own 86.92% of the company’s stock.
In related news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $68.70, for a total value of $1,357,580.70. Following the completion of the sale, the chief executive officer now directly owns 20,324 shares in the company, valued at $1,396,258.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.29% of the stock is currently owned by insiders.
ATVI has been the subject of a number of research reports. BidaskClub cut shares of Activision Blizzard from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Piper Jaffray Companies lifted their target price on shares of Activision Blizzard to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 25th. Wedbush set a $81.00 target price on shares of Activision Blizzard and gave the stock a “buy” rating in a research report on Thursday, July 26th. Needham & Company LLC lifted their target price on shares of Activision Blizzard from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 31st. Finally, Barclays lowered their price target on shares of Activision Blizzard from $82.00 to $79.00 and set a “hold” rating for the company in a report on Sunday, August 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $77.62.
Shares of NASDAQ ATVI opened at $55.01 on Friday. Activision Blizzard, Inc. has a 12 month low of $53.50 and a 12 month high of $84.68. The stock has a market cap of $49.63 billion, a PE ratio of 26.83, a PEG ratio of 1.73 and a beta of 1.11. The company has a quick ratio of 2.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.42.
Activision Blizzard (NASDAQ:ATVI) last released its earnings results on Thursday, November 8th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Activision Blizzard had a net margin of 6.96% and a return on equity of 16.39%. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Activision Blizzard’s revenue for the quarter was down 12.6% compared to the same quarter last year. On average, research analysts predict that Activision Blizzard, Inc. will post 2.49 earnings per share for the current fiscal year.
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Activision Blizzard Profile
Activision Blizzard, Inc develops and distributes content and services on video game consoles, personal computers (PC), and mobile devices. The company operates through three segments: Activision Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment. The company develops, publishes, and sells interactive software products and entertainment content for the console and PC platforms through retail and digital channels, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies; and offers downloadable content.
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