Perennial Advisors LLC grew its stake in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 7.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,236 shares of the company’s stock after buying an additional 1,337 shares during the period. Perennial Advisors LLC’s holdings in Activision Blizzard were worth $830,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Massey Quick Simon & CO. LLC purchased a new stake in Activision Blizzard in the first quarter worth approximately $25,000. Capital Investment Advisory Services LLC purchased a new stake in Activision Blizzard in the fourth quarter worth $37,000. Lindbrook Capital LLC purchased a new stake in Activision Blizzard in the fourth quarter worth $37,000. Pearl River Capital LLC purchased a new stake in Activision Blizzard in the fourth quarter worth $41,000. Finally, Ipswich Investment Management Co. Inc. purchased a new stake in Activision Blizzard in the fourth quarter worth $45,000. Hedge funds and other institutional investors own 83.25% of the company’s stock.
Shares of NASDAQ:ATVI traded up $0.10 on Friday, hitting $42.29. 5,016,353 shares of the company traded hands, compared to its average volume of 11,098,162. Activision Blizzard, Inc. has a 52 week low of $39.85 and a 52 week high of $84.68. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.63 and a quick ratio of 2.61. The company has a market capitalization of $32.39 billion, a PE ratio of 17.69, a PEG ratio of 2.16 and a beta of 0.83.
Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.13. Activision Blizzard had a return on equity of 16.19% and a net margin of 23.90%. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period last year, the company earned $0.38 earnings per share. The company’s revenue was down 8.7% on a year-over-year basis. On average, sell-side analysts anticipate that Activision Blizzard, Inc. will post 1.99 earnings per share for the current fiscal year.
In related news, insider Christopher B. Walther sold 2,333 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $45.91, for a total transaction of $107,108.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert J. Morgado sold 15,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $42.91, for a total value of $643,650.00. The disclosure for this sale can be found here. Company insiders own 1.29% of the company’s stock.
A number of analysts recently commented on the company. Credit Suisse Group dropped their price target on Activision Blizzard from $70.00 to $64.00 and set an “outperform” rating for the company in a research note on Wednesday, February 13th. Wedbush reaffirmed an “outperform” rating and issued a $56.00 price target (down previously from $64.00) on shares of Activision Blizzard in a research note on Wednesday, February 13th. Bank of America reaffirmed a “neutral” rating and issued a $54.00 price target (down previously from $58.00) on shares of Activision Blizzard in a research note on Wednesday, February 13th. Stifel Nicolaus dropped their price target on Activision Blizzard from $67.00 to $57.00 and set a “buy” rating for the company in a research note on Monday, January 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target (down previously from $60.00) on shares of Activision Blizzard in a research note on Wednesday, February 13th. Thirteen investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Activision Blizzard has an average rating of “Buy” and a consensus price target of $61.43.
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. 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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