Oribel Capital Management LP bought a new position in Activision Blizzard, Inc. (NASDAQ:ATVI) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 18,100 shares of the company’s stock, valued at approximately $1,381,000.
Other hedge funds have also added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. grew its position in shares of Activision Blizzard by 16.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,524 shares of the company’s stock worth $345,000 after buying an additional 634 shares in the last quarter. Wetherby Asset Management Inc. grew its position in shares of Activision Blizzard by 7.8% during the 2nd quarter. Wetherby Asset Management Inc. now owns 9,385 shares of the company’s stock worth $716,000 after buying an additional 680 shares in the last quarter. Thrivent Financial for Lutherans grew its position in shares of Activision Blizzard by 2.4% during the 1st quarter. Thrivent Financial for Lutherans now owns 31,554 shares of the company’s stock worth $2,129,000 after buying an additional 729 shares in the last quarter. Mission Wealth Management LP grew its position in shares of Activision Blizzard by 13.5% during the 2nd quarter. Mission Wealth Management LP now owns 6,174 shares of the company’s stock worth $471,000 after buying an additional 732 shares in the last quarter. Finally, Peregrine Capital Management LLC grew its position in shares of Activision Blizzard by 0.3% during the 2nd quarter. Peregrine Capital Management LLC now owns 243,301 shares of the company’s stock worth $18,569,000 after buying an additional 735 shares in the last quarter. Institutional investors and hedge funds own 87.04% of the company’s stock.
In other news, CEO Riccardo Zacconi sold 19,761 shares of the firm’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $68.70, for a total value of $1,357,580.70. Following the completion of the transaction, the chief executive officer now directly owns 20,324 shares in the company, valued at $1,396,258.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.29% of the company’s stock.
A number of brokerages recently weighed in on ATVI. BidaskClub raised Activision Blizzard from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th. KeyCorp raised their price objective on Activision Blizzard from $83.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, June 18th. Zacks Investment Research raised Activision Blizzard from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research report on Wednesday, July 4th. Morgan Stanley raised their price objective on Activision Blizzard from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, July 11th. Finally, Piper Jaffray Companies raised their price objective on Activision Blizzard to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, July 25th. Nine investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $78.55.
Shares of NASDAQ:ATVI opened at $72.69 on Wednesday. Activision Blizzard, Inc. has a 52-week low of $57.29 and a 52-week high of $81.64. The stock has a market capitalization of $54.97 billion, a PE ratio of 35.46, a PEG ratio of 1.90 and a beta of 0.87. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.98 and a quick ratio of 2.96.
Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings data on Thursday, August 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.11. Activision Blizzard had a return on equity of 18.00% and a net margin of 6.96%. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the business posted $0.32 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. equities analysts predict that Activision Blizzard, Inc. will post 2.49 earnings per share for the current fiscal year.
About Activision Blizzard
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.
Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks
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