SRB Corp lessened its position in Activision Blizzard, Inc. (NASDAQ:ATVI) by 36.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,992 shares of the company’s stock after selling 6,430 shares during the quarter. SRB Corp’s holdings in Activision Blizzard were worth $519,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in ATVI. Capital Investment Advisory Services LLC raised its holdings in Activision Blizzard by 189.5% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 553 shares of the company’s stock worth $25,000 after acquiring an additional 362 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in Activision Blizzard in the 1st quarter worth $27,000. Redhawk Wealth Advisors Inc. bought a new position in Activision Blizzard in the 2nd quarter worth $29,000. Thor Advisors LLC bought a new position in Activision Blizzard in the 1st quarter worth $40,000. Finally, Kavar Capital Partners LLC bought a new position in Activision Blizzard in the 2nd quarter worth $47,000. Hedge funds and other institutional investors own 86.97% of the company’s stock.
ATVI has been the topic of several recent analyst reports. Wedbush reiterated an “outperform” rating and issued a $60.00 target price on shares of Activision Blizzard in a report on Friday, August 9th. BidaskClub upgraded shares of Activision Blizzard from a “hold” rating to a “buy” rating in a report on Thursday, August 22nd. MKM Partners reiterated a “neutral” rating and issued a $47.00 target price (up previously from $45.00) on shares of Activision Blizzard in a report on Friday, August 9th. Stephens upgraded shares of Activision Blizzard from an “equal” rating to a “weight” rating and boosted their price objective for the stock from $52.00 to $65.00 in a report on Thursday, September 5th. Finally, Bank of America boosted their price objective on shares of Activision Blizzard from $57.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday. Eight analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $62.00.
NASDAQ ATVI traded down $0.16 on Monday, reaching $55.79. The company’s stock had a trading volume of 428,447 shares, compared to its average volume of 7,419,268. The firm has a market cap of $42.53 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 2.20 and a beta of 0.89. The business has a 50-day moving average price of $49.53 and a 200 day moving average price of $46.58. Activision Blizzard, Inc. has a 52 week low of $39.85 and a 52 week high of $84.68. The company has a current ratio of 3.46, a quick ratio of 3.43 and a debt-to-equity ratio of 0.22.
Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Thursday, August 8th. The company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.14. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Activision Blizzard had a net margin of 23.69% and a return on equity of 15.54%. The firm’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 earnings per share. Analysts anticipate that Activision Blizzard, Inc. will post 2 earnings per share for the current fiscal year.
Activision Blizzard Company 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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