Chartwell Investment Partners LLC decreased its position in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 10.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 71,615 shares of the company’s stock after selling 8,575 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Activision Blizzard were worth $5,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently bought and sold shares of the company. Guggenheim Capital LLC increased its position in shares of Activision Blizzard by 4.0% in the fourth quarter. Guggenheim Capital LLC now owns 370,703 shares of the company’s stock worth $22,026,000 after purchasing an additional 14,154 shares during the period. Verus Capital Partners LLC bought a new stake in shares of Activision Blizzard during the 4th quarter valued at approximately $70,000. Macquarie Group Ltd. increased its position in Activision Blizzard by 45.3% during the 4th quarter. Macquarie Group Ltd. now owns 20,401 shares of the company’s stock worth $1,213,000 after purchasing an additional 6,362 shares in the last quarter. Franklin Resources Inc. lifted its stake in Activision Blizzard by 23.3% in the 4th quarter. Franklin Resources Inc. now owns 8,253 shares of the company’s stock valued at $490,000 after purchasing an additional 1,560 shares during the last quarter. Finally, Fulton Bank N.A. boosted its position in Activision Blizzard by 5.9% in the first quarter. Fulton Bank N.A. now owns 21,688 shares of the company’s stock valued at $1,290,000 after buying an additional 1,208 shares in the last quarter. Hedge funds and other institutional investors own 86.73% of the company’s stock.
A number of research analysts have recently commented on ATVI shares. Berenberg Bank increased their price target on Activision Blizzard from $83.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday. SunTrust Banks increased their target price on Activision Blizzard to $87.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Zacks Investment Research upgraded Activision Blizzard from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a report on Monday, May 4th. Nomura upped their price objective on Activision Blizzard from $70.00 to $80.00 in a research note on Wednesday, May 6th. Finally, Credit Suisse Group lifted their target price on shares of Activision Blizzard from $79.00 to $83.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Activision Blizzard has a consensus rating of “Buy” and a consensus target price of $78.47.
In other news, insider Collister Johnson sold 24,000 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $72.31, for a total transaction of $1,735,440.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Brian G. Kelly sold 250,000 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $72.42, for a total value of $18,105,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 324,000 shares of company stock worth $23,504,440. Corporate insiders own 1.29% of the company’s stock.
Shares of NASDAQ ATVI opened at $82.63 on Friday. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.21. The firm has a market cap of $63.66 billion, a PE ratio of 40.91, a P/E/G ratio of 2.01 and a beta of 0.61. The company’s fifty day simple moving average is $77.75 and its 200 day simple moving average is $67.08. Activision Blizzard, Inc. has a 12-month low of $44.91 and a 12-month high of $83.45.
Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.20. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.32 billion. Activision Blizzard had a net margin of 24.21% and a return on equity of 14.57%. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.58 earnings per share. On average, equities analysts predict that Activision Blizzard, Inc. will post 2.54 earnings per share for the current year.
About Activision Blizzard
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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