MUFG Securities EMEA plc purchased a new stake in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 14,000 shares of the company’s stock, valued at approximately $661,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cornerstone Advisors Inc. raised its holdings in Activision Blizzard by 13.1% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,972 shares of the company’s stock worth $93,000 after buying an additional 229 shares during the period. Dowling & Yahnke LLC boosted its position in Activision Blizzard by 1.0% during the second quarter. Dowling & Yahnke LLC now owns 26,404 shares of the company’s stock worth $1,246,000 after purchasing an additional 258 shares during the period. Executive Wealth Management LLC boosted its position in Activision Blizzard by 42.5% during the second quarter. Executive Wealth Management LLC now owns 1,026 shares of the company’s stock worth $48,000 after purchasing an additional 306 shares during the period. Pitcairn Co. boosted its position in shares of Activision Blizzard by 6.1% in the second quarter. Pitcairn Co. now owns 6,223 shares of the company’s stock valued at $294,000 after acquiring an additional 358 shares during the period. Finally, Capital Investment Advisory Services LLC raised its stake in shares of Activision Blizzard by 189.5% in the second quarter. Capital Investment Advisory Services LLC now owns 553 shares of the company’s stock valued at $25,000 after purchasing an additional 362 shares in the last quarter. Institutional investors own 87.07% of the company’s stock.
In other Activision Blizzard news, insider Christopher B. Walther sold 5,333 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $50.34, for a total value of $268,463.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brian M. Stolz sold 134,845 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $47.80, for a total value of $6,445,591.00. Following the completion of the sale, the insider now owns 58,563 shares in the company, valued at approximately $2,799,311.40. The disclosure for this sale can be found here. Insiders sold a total of 156,844 shares of company stock worth $7,528,095 in the last quarter. Corporate insiders own 1.29% of the company’s stock.
Several research firms have issued reports on ATVI. UBS Group reiterated a “buy” rating and set a $56.00 price objective (up from $52.00) on shares of Activision Blizzard in a research note on Friday, August 9th. Citigroup started coverage on Activision Blizzard in a report on Friday, June 7th. They issued a “neutral” rating and a $47.00 price target on the stock. Jefferies Financial Group started coverage on Activision Blizzard in a report on Thursday, July 11th. They set a “buy” rating and a $56.00 target price on the stock. TheStreet upgraded Activision Blizzard from a “c+” rating to a “b-” rating in a report on Tuesday, August 13th. Finally, SunTrust Banks raised their target price on Activision Blizzard from $52.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Eight investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $61.71.
ATVI traded up $0.27 on Friday, reaching $55.72. The stock had a trading volume of 265,914 shares, compared to its average volume of 7,147,338. Activision Blizzard, Inc. has a fifty-two week low of $39.85 and a fifty-two week high of $84.68. The firm has a 50-day moving average of $49.35 and a 200-day moving average of $46.51. The company has a current ratio of 3.46, a quick ratio of 3.43 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $42.85 billion, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 2.22 and a beta of 0.89.
Activision Blizzard (NASDAQ:ATVI) last issued its earnings results on Thursday, August 8th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.14. Activision Blizzard had a return on equity of 15.54% and a net margin of 23.69%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the firm earned $0.41 EPS. The business’s revenue for the quarter was down 12.9% compared to the same quarter last year. Sell-side analysts anticipate that Activision Blizzard, Inc. will post 2 EPS 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. 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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