Pegasus Asset Management Inc. raised its holdings in Activision Blizzard, Inc. (NASDAQ:ATVI) by 15.2% during the third quarter, HoldingsChannel reports. The firm owned 17,483 shares of the company’s stock after purchasing an additional 2,312 shares during the quarter. Pegasus Asset Management Inc.’s holdings in Activision Blizzard were worth $1,454,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Psagot Investment House Ltd. purchased a new stake in Activision Blizzard in the 3rd quarter valued at approximately $135,000. Icon Advisers Inc. Co. purchased a new stake in shares of Activision Blizzard during the 3rd quarter worth approximately $1,073,000. Warren Averett Asset Management LLC purchased a new stake in shares of Activision Blizzard during the 3rd quarter worth approximately $202,000. Gulf International Bank UK Ltd boosted its stake in shares of Activision Blizzard by 11.0% during the 3rd quarter. Gulf International Bank UK Ltd now owns 250,029 shares of the company’s stock worth $20,799,000 after acquiring an additional 24,830 shares in the last quarter. Finally, Sloane Robinson LLP boosted its stake in shares of Activision Blizzard by 69.5% during the 3rd quarter. Sloane Robinson LLP now owns 166,800 shares of the company’s stock worth $13,876,000 after acquiring an additional 68,400 shares in the last quarter. 86.92% of the stock is currently owned by institutional investors.
Activision Blizzard stock traded up $1.29 during trading on Wednesday, reaching $65.54. 56,928 shares of the company’s stock were exchanged, compared to its average volume of 8,647,570. The company has a current ratio of 2.98, a quick ratio of 2.96 and a debt-to-equity ratio of 0.42. The stock has a market cap of $52.60 billion, a price-to-earnings ratio of 31.91, a price-to-earnings-growth ratio of 1.84 and a beta of 1.11. Activision Blizzard, Inc. has a 52-week low of $57.29 and a 52-week high of $84.68.
Several brokerages have recently commented on ATVI. ValuEngine lowered Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Tuesday. Wedbush reissued an “outperform” rating and set a $100.00 price target on shares of Activision Blizzard in a research note on Monday. Stifel Nicolaus decreased their price target on Activision Blizzard from $82.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, October 31st. KeyCorp decreased their price target on Activision Blizzard from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 31st. Finally, MKM Partners cut their price objective on Activision Blizzard to $71.00 and set a “neutral” rating for the company in a research report on Tuesday, October 30th. Nine analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Activision Blizzard presently has an average rating of “Buy” and an average target price of $82.75.
In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 20,324 shares of the company’s stock, valued at approximately $1,396,258.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.29% of the company’s stock.
Activision Blizzard Company 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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