Viking Global Investors LP boosted its holdings in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 61.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 7,908,859 shares of the company’s stock after acquiring an additional 2,999,492 shares during the period. Activision Blizzard accounts for 1.7% of Viking Global Investors LP’s portfolio, making the stock its 20th largest position. Viking Global Investors LP owned 1.03% of Activision Blizzard worth $373,298,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Ruffer LLP acquired a new position in shares of Activision Blizzard in the 2nd quarter valued at $160,765,000. Manning & Napier Group LLC acquired a new position in shares of Activision Blizzard in the 2nd quarter valued at $118,438,000. Lazard Asset Management LLC grew its holdings in shares of Activision Blizzard by 543.4% in the 1st quarter. Lazard Asset Management LLC now owns 2,116,010 shares of the company’s stock valued at $96,341,000 after buying an additional 1,787,120 shares during the period. BlackRock Inc. grew its holdings in shares of Activision Blizzard by 3.4% in the 2nd quarter. BlackRock Inc. now owns 48,425,839 shares of the company’s stock valued at $2,285,699,000 after buying an additional 1,613,122 shares during the period. Finally, Holocene Advisors LP grew its holdings in shares of Activision Blizzard by 255.1% in the 2nd quarter. Holocene Advisors LP now owns 2,048,761 shares of the company’s stock valued at $96,702,000 after buying an additional 1,471,779 shares during the period. 86.97% of the stock is owned by hedge funds and other institutional investors.
Shares of ATVI traded down $0.27 during trading hours on Wednesday, hitting $55.08. 436,196 shares of the stock were exchanged, compared to its average volume of 7,449,296. Activision Blizzard, Inc. has a fifty-two week low of $39.85 and a fifty-two week high of $84.68. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.46 and a quick ratio of 3.43. The business has a 50-day moving average of $50.17 and a 200-day moving average of $46.86. The firm has a market capitalization of $42.92 billion, a P/E ratio of 23.06, a price-to-earnings-growth ratio of 2.22 and a beta of 0.88.
Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.14. Activision Blizzard had a net margin of 23.69% and a return on equity of 15.54%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the company posted $0.41 earnings per share. Activision Blizzard’s revenue for the quarter was down 12.9% compared to the same quarter last year. As a group, analysts forecast that Activision Blizzard, Inc. will post 2 earnings per share for the current fiscal year.
Several brokerages have recently issued reports on ATVI. Piper Jaffray Companies boosted their price target on shares of Activision Blizzard from $55.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday. Nomura raised shares of Activision Blizzard from a “neutral” rating to a “buy” rating and boosted their price target for the company from $49.00 to $64.00 in a report on Thursday, September 12th. BidaskClub raised shares of Activision Blizzard from a “buy” rating to a “strong-buy” rating in a report on Tuesday. BMO Capital Markets raised shares of Activision Blizzard from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $43.00 to $60.00 in a report on Wednesday, September 4th. Finally, Ascendiant Capital Markets reissued a “buy” rating and issued a $55.00 price target (up previously from $53.00) on shares of Activision Blizzard in a report on Wednesday, August 14th. Eight analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $62.23.
In other Activision Blizzard news, insider Christopher B. Walther sold 5,333 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.34, for a total value of $268,463.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian M. Stolz sold 134,845 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $47.80, for a total transaction of $6,445,591.00. Following the completion of the sale, the insider now owns 58,563 shares of the company’s stock, valued at $2,799,311.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 156,844 shares of company stock valued at $7,528,095. 1.31% of the stock is currently owned by corporate insiders.
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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