Brasada Capital Management LP purchased a new position in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,000 shares of the company’s stock, valued at approximately $472,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Signaturefd LLC acquired a new position in shares of Activision Blizzard in the 1st quarter valued at $114,000. AdvisorNet Financial Inc raised its holdings in shares of Activision Blizzard by 343.1% in the 1st quarter. AdvisorNet Financial Inc now owns 2,583 shares of the company’s stock valued at $174,000 after purchasing an additional 2,000 shares during the period. James Hambro & Partners bought a new stake in shares of Activision Blizzard in the 4th quarter valued at about $184,000. Delpha Capital Management LLC acquired a new position in Activision Blizzard in the 4th quarter valued at about $202,000. Finally, TLP Group LLC grew its stake in Activision Blizzard by 3,154.8% in the 1st quarter. TLP Group LLC now owns 3,027 shares of the company’s stock valued at $204,000 after buying an additional 2,934 shares during the last quarter. Hedge funds and other institutional investors own 85.80% of the company’s stock.
A number of research analysts have issued reports on ATVI shares. TheStreet upgraded shares of Activision Blizzard from a “c+” rating to a “b” rating in a research report on Thursday, May 3rd. Wedbush set a $81.00 price objective on shares of Activision Blizzard and gave the company a “buy” rating in a research note on Monday, April 30th. KeyCorp set a $83.00 price target on shares of Activision Blizzard and gave the company a “buy” rating in a research note on Wednesday, April 4th. BidaskClub cut shares of Activision Blizzard from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 17th. Finally, Zacks Investment Research upgraded shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Tuesday, March 13th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $76.07.
In related news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $70.49, for a total value of $1,392,952.89. Following the completion of the sale, the chief executive officer now directly owns 27,361 shares in the company, valued at $1,928,676.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.29% of the company’s stock.
Activision Blizzard opened at $76.32 on Friday, according to Marketbeat.com. The company has a current ratio of 2.19, a quick ratio of 2.18 and a debt-to-equity ratio of 0.45. The company has a market cap of $57.86 billion, a price-to-earnings ratio of 37.23, a PEG ratio of 1.99 and a beta of 1.20. Activision Blizzard, Inc. has a 12 month low of $55.86 and a 12 month high of $79.63.
Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Thursday, May 3rd. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.29 by $0.05. Activision Blizzard had a net margin of 4.78% and a return on equity of 17.91%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the firm earned $0.56 earnings per share. Activision Blizzard’s quarterly revenue was up 15.0% compared to the same quarter last year. analysts expect that Activision Blizzard, Inc. will post 2.48 earnings per share for the current year.
Activision Blizzard 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. The company 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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