Artemis Investment Management LLP increased its stake in Activision Blizzard Inc. (NASDAQ:ATVI) by 28.7% during the second quarter, Holdings Channel reports. The institutional investor owned 751,591 shares of the company’s stock after buying an additional 167,488 shares during the period. Artemis Investment Management LLP’s holdings in Activision Blizzard were worth $29,797,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. HL Financial Services LLC boosted its position in shares of Activision Blizzard by 0.5% in the second quarter. HL Financial Services LLC now owns 11,447 shares of the company’s stock valued at $454,000 after buying an additional 61 shares in the last quarter. Commonwealth Equity Services Inc boosted its position in Activision Blizzard by 0.6% in the first quarter. Commonwealth Equity Services Inc now owns 28,206 shares of the company’s stock worth $954,000 after buying an additional 157 shares in the last quarter. Conning Inc. boosted its position in Activision Blizzard by 2.2% in the second quarter. Conning Inc. now owns 11,170 shares of the company’s stock worth $443,000 after buying an additional 240 shares in the last quarter. NN Investment Partners Holdings N.V. boosted its position in Activision Blizzard by 0.9% in the second quarter. NN Investment Partners Holdings N.V. now owns 34,322 shares of the company’s stock worth $1,360,000 after buying an additional 295 shares in the last quarter. Finally, NEXT Financial Group Inc boosted its position in Activision Blizzard by 16.3% in the second quarter. NEXT Financial Group Inc now owns 6,071 shares of the company’s stock worth $240,000 after buying an additional 850 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.
Activision Blizzard Inc. (NASDAQ:ATVI) traded down 0.34% during trading on Friday, reaching $44.36. 8,694,746 shares of the company’s stock traded hands. The stock has a market capitalization of $32.89 billion, a P/E ratio of 44.67 and a beta of 1.02. Activision Blizzard Inc. has a 1-year low of $26.49 and a 1-year high of $45.12. The stock has a 50-day moving average price of $41.99 and a 200 day moving average price of $38.19.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.03. Activision Blizzard had a net margin of 13.95% and a return on equity of 14.49%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the firm posted $0.13 EPS. The firm’s quarterly revenue was up 112.0% on a year-over-year basis. Equities research analysts expect that Activision Blizzard Inc. will post $1.98 earnings per share for the current year.
ATVI has been the topic of a number of recent analyst reports. MKM Partners cut Activision Blizzard from a “buy” rating to a “neutral” rating and upped their price objective for the company from $40.00 to $42.00 in a report on Thursday, July 28th. They noted that the move was a valuation call. Robert W. Baird reiterated an “outperform” rating and issued a $46.00 price objective (up from $43.00) on shares of Activision Blizzard in a report on Sunday, August 7th. Jefferies Group reiterated a “buy” rating on shares of Activision Blizzard in a report on Monday, August 22nd. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $42.00 price objective on shares of Activision Blizzard in a report on Wednesday, July 27th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $38.00 price objective on shares of Activision Blizzard in a report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have given a buy rating to the company’s stock. Activision Blizzard presently has a consensus rating of “Buy” and a consensus price target of $44.60.
In other news, COO Thomas Tippl sold 44,427 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $41.83, for a total value of $1,858,381.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $40.65, for a total transaction of $803,284.65. Following the completion of the sale, the chief executive officer now directly owns 97,177 shares of the company’s stock, valued at approximately $3,950,245.05. The disclosure for this sale can be found here. Corporate insiders own 25.23% of the company’s stock.
About Activision Blizzard
Activision Blizzard, Inc is a developer and publisher of online, personal computer (PC), video game console, handheld, mobile and tablet games. The Company operates through Activision Publishing, Inc (Activision) and its subsidiaries, Blizzard Entertainment, Inc (Blizzard) and its subsidiaries, and Other segments.
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