Earnest Partners LLC lessened its stake in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 18.2% during the second quarter, HoldingsChannel.com reports. The fund owned 545,164 shares of the company’s stock after selling 121,560 shares during the period. Earnest Partners LLC’s holdings in Activision Blizzard were worth $41,607,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of ATVI. Global X Management Co. LLC increased its stake in Activision Blizzard by 18.5% during the 1st quarter. Global X Management Co. LLC now owns 7,959 shares of the company’s stock worth $537,000 after acquiring an additional 1,242 shares during the period. Dupont Capital Management Corp increased its stake in Activision Blizzard by 11.0% during the 1st quarter. Dupont Capital Management Corp now owns 14,951 shares of the company’s stock worth $1,009,000 after acquiring an additional 1,476 shares during the period. Alps Advisors Inc. bought a new position in Activision Blizzard during the 1st quarter worth $268,000. Mackay Shields LLC bought a new position in Activision Blizzard during the 1st quarter worth $8,624,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Activision Blizzard by 3.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 147,586 shares of the company’s stock worth $9,956,000 after acquiring an additional 5,193 shares during the period. Hedge funds and other institutional investors own 86.92% of the company’s stock.
A number of research firms have commented on ATVI. Wedbush set a $81.00 price objective on Activision Blizzard and gave the stock a “buy” rating in a research note on Thursday, July 26th. Piper Jaffray Companies raised their price objective on Activision Blizzard to $84.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 25th. BidaskClub lowered Activision Blizzard from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 25th. KeyCorp raised their price objective on Activision Blizzard from $83.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, June 18th. Finally, Morgan Stanley raised their price objective on Activision Blizzard from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 11th. Nine analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Activision Blizzard currently has an average rating of “Buy” and an average target price of $78.55.
In related news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $68.70, for a total transaction of $1,357,580.70. Following the sale, the chief executive officer now owns 20,324 shares in the company, valued at approximately $1,396,258.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.29% of the company’s stock.
Shares of ATVI opened at $71.65 on Thursday. Activision Blizzard, Inc. has a 52-week low of $57.29 and a 52-week high of $81.64. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.96 and a current ratio of 2.98. The firm has a market capitalization of $54.97 billion, a PE ratio of 30.81, a price-to-earnings-growth ratio of 1.90 and a beta of 0.87.
Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings results on Thursday, August 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.11. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.38 billion. Activision Blizzard had a return on equity of 18.00% and a net margin of 6.96%. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 EPS. equities research analysts expect that Activision Blizzard, Inc. will post 2.49 earnings per share for the current year.
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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