Westpac Banking Corp lowered its position in shares of Activision Blizzard Inc. (NASDAQ:ATVI) by 63.8% during the second quarter, Holdings Channel reports. The institutional investor owned 40,162 shares of the company’s stock after selling 70,856 shares during the period. Westpac Banking Corp’s holdings in Activision Blizzard were worth $1,592,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of ATVI. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Activision Blizzard during the second quarter valued at approximately $210,000. FDO Partners LLC acquired a new stake in shares of Activision Blizzard during the first quarter valued at approximately $216,000. Buckingham Asset Management LLC acquired a new stake in shares of Activision Blizzard during the second quarter valued at approximately $216,000. Palladium Partners LLC acquired a new stake in shares of Activision Blizzard during the second quarter valued at approximately $220,000. Finally, IFC Holdings Incorporated FL acquired a new stake in shares of Activision Blizzard during the second quarter valued at approximately $222,000. Institutional investors and hedge funds own 83.67% of the company’s stock.
Shares of Activision Blizzard Inc. (NASDAQ:ATVI) traded down 0.29% on Thursday, hitting $44.03. The stock had a trading volume of 586,769 shares. The stock’s 50-day moving average price is $42.37 and its 200 day moving average price is $38.62. Activision Blizzard Inc. has a 52 week low of $26.49 and a 52 week high of $45.12. The company has a market cap of $32.65 billion, a PE ratio of 44.34 and a beta of 1.02.
Activision Blizzard (NASDAQ:ATVI) last announced its earnings results on Thursday, August 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.03. Activision Blizzard had a return on equity of 14.49% and a net margin of 13.95%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the firm earned $0.13 EPS. Activision Blizzard’s revenue for the quarter was up 112.0% compared to the same quarter last year. On average, analysts predict that Activision Blizzard Inc. will post $1.99 EPS for the current year.
Several research firms have issued reports on ATVI. 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 began 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 research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $44.72.
In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $40.65, for a total value of $803,284.65. Following the completion of the transaction, the chief executive officer now directly owns 97,177 shares in the company, valued at $3,950,245.05. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert J. Morgado sold 29,999 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were 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. 25.23% of the stock is owned by corporate insiders.
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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