MU Investments Co. Ltd. lowered its stake in shares of Activision Blizzard Inc. (NASDAQ:ATVI) by 55.4% during the second quarter, Holdings Channel reports. The fund owned 4,350 shares of the company’s stock after selling 5,400 shares during the period. MU Investments Co. Ltd.’s holdings in Activision Blizzard were worth $165,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. FDO Partners LLC bought a new stake in shares of Activision Blizzard during the first quarter valued at approximately $216,000. Palladium Partners LLC acquired a new stake in Activision Blizzard during the second quarter valued at about $220,000. NEXT Financial Group Inc increased its stake in Activision Blizzard by 16.3% in the second quarter. NEXT Financial Group Inc now owns 6,071 shares of the company’s stock valued at $240,000 after buying an additional 850 shares in the last quarter. Fisher Asset Management LLC acquired a new stake in Activision Blizzard during the second quarter valued at about $244,000. Finally, Balasa Dinverno & Foltz LLC acquired a new stake in Activision Blizzard during the second quarter valued at about $251,000. Institutional investors and hedge funds own 83.67% of the company’s stock.
Shares of Activision Blizzard Inc. (NASDAQ:ATVI) traded down 0.11% during midday trading on Wednesday, hitting $44.16. The stock had a trading volume of 5,579,745 shares. The stock has a market capitalization of $32.74 billion, a price-to-earnings ratio of 44.47 and a beta of 1.02. The stock has a 50 day moving average price of $42.37 and a 200-day moving average price of $38.62. Activision Blizzard Inc. has a 52 week low of $26.49 and a 52 week high of $45.12.
Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.03. The company earned $1.57 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Activision Blizzard had a return on equity of 14.49% and a net margin of 13.95%. Activision Blizzard’s revenue for the quarter was up 112.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.13 EPS. Equities research analysts anticipate that Activision Blizzard Inc. will post $1.99 earnings per share for the current year.
Several equities research analysts have issued reports on ATVI shares. Wedbush restated an “outperform” rating and set a $43.00 price objective on shares of Activision Blizzard in a report on Wednesday, July 6th. Vetr downgraded Activision Blizzard from a “hold” rating to a “sell” rating and set a $40.89 price objective on the stock. in a report on Monday, September 5th. Robert W. Baird restated an “outperform” rating and set a $42.00 price objective on shares of Activision Blizzard in a report on Monday, June 6th. Morgan Stanley started coverage on Activision Blizzard in a report on Friday, September 23rd. They set an “overweight” rating and a $56.00 price objective on the stock. Finally, Jefferies Group restated a “buy” rating on shares of Activision Blizzard in a report on Monday, August 22nd. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $44.72.
In related news, COO Thomas Tippl sold 75,000 shares of Activision Blizzard stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $43.76, for a total transaction of $3,282,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert J. Morgado sold 29,999 shares of Activision Blizzard stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $43.60, for a total value of $1,307,956.40. The disclosure for this sale can be found here. Corporate insiders own 25.23% of the company’s stock.
Activision Blizzard Company Profile
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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