Mid Atlantic Financial Management Inc. ADV increased its stake in Activision Blizzard, Inc. (NASDAQ:ATVI) by 8.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,268 shares of the company’s stock after purchasing an additional 579 shares during the period. Mid Atlantic Financial Management Inc. ADV’s holdings in Activision Blizzard were worth $343,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of ATVI. Ruffer LLP bought a new position in Activision Blizzard in the second quarter worth $160,765,000. Pegasus Asset Management Inc. raised its stake in Activision Blizzard by 12.7% during the 2nd quarter. Pegasus Asset Management Inc. now owns 30,698 shares of the company’s stock valued at $1,449,000 after purchasing an additional 3,462 shares during the period. National Asset Management Inc. raised its stake in Activision Blizzard by 3.6% during the 2nd quarter. National Asset Management Inc. now owns 12,449 shares of the company’s stock valued at $588,000 after purchasing an additional 428 shares during the period. CIBC Asset Management Inc raised its stake in Activision Blizzard by 19.5% during the 2nd quarter. CIBC Asset Management Inc now owns 232,355 shares of the company’s stock valued at $10,967,000 after purchasing an additional 37,875 shares during the period. Finally, Securian Asset Management Inc raised its stake in Activision Blizzard by 1.1% during the 2nd quarter. Securian Asset Management Inc now owns 78,961 shares of the company’s stock valued at $3,727,000 after purchasing an additional 845 shares during the period. Institutional investors own 85.72% of the company’s stock.
A number of research firms have issued reports on ATVI. MKM Partners reaffirmed a “neutral” rating and issued a $47.00 price objective (up previously from $45.00) on shares of Activision Blizzard in a research note on Friday, August 9th. BMO Capital Markets lifted their price objective on Activision Blizzard from $40.00 to $43.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 14th. BidaskClub raised Activision Blizzard from a “hold” rating to a “buy” rating in a research note on Thursday, August 22nd. Jefferies Financial Group initiated coverage on Activision Blizzard in a report on Thursday, July 11th. They issued a “buy” rating and a $56.00 target price for the company. Finally, Stephens cut Activision Blizzard from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $57.00 to $52.00 in a report on Wednesday, May 22nd. Eleven analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $59.68.
Activision Blizzard (NASDAQ:ATVI) last issued its earnings results on Thursday, August 8th. The company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.14. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Activision Blizzard had a return on equity of 15.54% and a net margin of 23.69%. The business’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 EPS. Research analysts predict that Activision Blizzard, Inc. will post 2 EPS for the current fiscal year.
In other news, insider Christopher B. Walther sold 2,333 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $44.00, for a total value of $102,652.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian M. Stolz sold 134,845 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $47.80, for a total value of $6,445,591.00. Following the completion of the transaction, the insider now directly owns 58,563 shares of the company’s stock, valued at $2,799,311.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 153,844 shares of company stock valued at $7,359,670. Corporate insiders own 1.31% of the company’s stock.
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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