Murchinson Ltd. Decreases Stake in Activision Blizzard, Inc. (NASDAQ:ATVI)

Murchinson Ltd. decreased its holdings in Activision Blizzard, Inc. (NASDAQ:ATVI – Get Rating) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 248,600 shares of the company’s stock after selling 1,400 shares during the period. Activision Blizzard accounts for about 2.5% of Murchinson Ltd.’s portfolio, making the stock its 3rd biggest holding. Murchinson Ltd.’s holdings in Activision Blizzard were worth $19,030,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Fairfield Bush & CO. bought a new position in Activision Blizzard during the first quarter valued at approximately $41,000. Evermay Wealth Management LLC grew its holdings in shares of Activision Blizzard by 33.3% in the third quarter. Evermay Wealth Management LLC now owns 684 shares of the company’s stock valued at $51,000 after purchasing an additional 171 shares in the last quarter. CoreCap Advisors LLC purchased a new stake in Activision Blizzard during the fourth quarter valued at $51,000. Castleview Partners LLC lifted its position in Activision Blizzard by 106.3% during the fourth quarter. Castleview Partners LLC now owns 817 shares of the company’s stock valued at $63,000 after purchasing an additional 421 shares during the last quarter. Finally, Clearstead Trust LLC purchased a new position in shares of Activision Blizzard in the 4th quarter worth $63,000. Hedge funds and other institutional investors own 79.34% of the company’s stock.

Activision Blizzard Trading Up 1.5 %

Shares of NASDAQ ATVI traded up $1.15 during trading hours on Friday, reaching $78.29. The stock had a trading volume of 2,102,115 shares, compared to its average volume of 7,051,459. Activision Blizzard, Inc. has a 52-week low of $70.94 and a 52-week high of $87.01. The firm has a market cap of $61.40 billion, a price-to-earnings ratio of 32.83, a P/E/G ratio of 2.33 and a beta of 0.42. The business’s fifty day moving average price is $81.09 and its two-hundred day moving average price is $77.79. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 0.18.

Insider Buying and Selling at Activision Blizzard

In other Activision Blizzard news, COO Daniel Alegre sold 8,847 shares of the stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $78.50, for a total transaction of $694,489.50. Following the transaction, the chief operating officer now directly owns 156,170 shares in the company, valued at approximately $12,259,345. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Peter J. Nolan acquired 13,160 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were bought at an average price of $75.99 per share, with a total value of $1,000,028.40. Following the completion of the transaction, the director now directly owns 174,777 shares in the company, valued at $13,281,304.23. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Daniel Alegre sold 8,847 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $78.50, for a total transaction of $694,489.50. Following the completion of the transaction, the chief operating officer now owns 156,170 shares of the company’s stock, valued at $12,259,345. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ATVI has been the subject of a number of analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $95.00 price target on shares of Activision Blizzard in a report on Friday, January 27th. Stifel Nicolaus dropped their target price on Activision Blizzard from $95.00 to $88.00 in a report on Tuesday, May 2nd. Truist Financial increased their price target on Activision Blizzard from $81.00 to $84.00 in a report on Wednesday, April 26th. Robert W. Baird cut their price objective on shares of Activision Blizzard from $95.00 to $90.00 in a research report on Thursday, April 27th. Finally, Benchmark reissued a “buy” rating and issued a $90.00 target price on shares of Activision Blizzard in a research note on Friday, March 10th. Sixteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $91.53.

Activision Blizzard Profile

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Activision Blizzard, Inc engages in the development and publication of entertainment content and services. It operates through the following segments: Activision Publishing Inc, Blizzard Entertainment Inc, and King Digital Entertainment. The Activision Publishing Inc segment delivers content through both premium and free-to-play offerings, as well as by licensing software to third-party or related-party companies that distribute Activision products.