Wedbush Securities Inc. lifted its stake in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 38.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,797 shares of the company’s stock after purchasing an additional 6,312 shares during the quarter. Wedbush Securities Inc.’s holdings in Activision Blizzard were worth $1,076,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Manning & Napier Group LLC acquired a new position in Activision Blizzard during the second quarter worth about $118,438,000. Lazard Asset Management LLC grew its holdings in Activision Blizzard by 543.4% during the first quarter. Lazard Asset Management LLC now owns 2,116,010 shares of the company’s stock worth $96,341,000 after acquiring an additional 1,787,120 shares during the period. Swedbank grew its holdings in Activision Blizzard by 21.5% during the first quarter. Swedbank now owns 6,007,179 shares of the company’s stock worth $273,507,000 after acquiring an additional 1,063,547 shares during the period. Geode Capital Management LLC grew its holdings in Activision Blizzard by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 9,116,102 shares of the company’s stock worth $423,741,000 after acquiring an additional 626,387 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD grew its holdings in Activision Blizzard by 1,299.4% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 671,201 shares of the company’s stock worth $30,559,000 after acquiring an additional 623,239 shares during the period. Institutional investors and hedge funds own 86.34% of the company’s stock.
A number of research analysts recently issued reports on ATVI shares. BidaskClub lowered Activision Blizzard from a “buy” rating to a “hold” rating in a report on Wednesday. Credit Suisse Group lowered their target price on Activision Blizzard from $65.00 to $64.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $57.00 target price (up from $55.00) on shares of Activision Blizzard in a report on Friday, August 9th. Ascendiant Capital Markets lifted their price target on Activision Blizzard from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $55.00 price target (up previously from $52.00) on shares of Activision Blizzard in a research note on Friday, August 9th. Twelve research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $59.68.
NASDAQ:ATVI traded down $2.39 on Wednesday, hitting $45.74. 276,357 shares of the company’s stock traded hands, compared to its average volume of 9,501,309. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.61 and a current ratio of 2.63. Activision Blizzard, Inc. has a 1 year low of $39.85 and a 1 year high of $84.68. The firm’s 50-day simple moving average is $47.42. The firm has a market capitalization of $36.92 billion, a P/E ratio of 19.26, a PEG ratio of 2.40 and a beta of 0.90.
Activision Blizzard (NASDAQ:ATVI) last released its earnings results on Thursday, August 8th. The company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.14. Activision Blizzard had a return on equity of 15.81% and a net margin of 23.69%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the business posted $0.41 EPS. The business’s revenue for the quarter was down 12.9% on a year-over-year basis. Analysts predict that Activision Blizzard, Inc. will post 1.98 earnings per share for the current fiscal year.
In other news, insider Christopher B. Walther sold 5,333 shares of Activision Blizzard stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $50.34, for a total transaction of $268,463.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher B. Walther sold 11,333 shares of Activision Blizzard stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $47.91, for a total value of $542,964.03. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,999 shares of company stock worth $914,079. Company insiders own 1.31% of the company’s stock.
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. It 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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