OLD Mutual Customised Solutions Proprietary Ltd. lowered its holdings in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 16.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 9,869 shares of the company’s stock after selling 1,900 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Activision Blizzard were worth $753,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the stock. OppenheimerFunds Inc. boosted its holdings in shares of Activision Blizzard by 284.7% during the first quarter. OppenheimerFunds Inc. now owns 4,159,793 shares of the company’s stock worth $280,621,000 after acquiring an additional 3,078,408 shares during the period. CI Global Investments Inc. boosted its holdings in shares of Activision Blizzard by 2,744.5% during the first quarter. CI Global Investments Inc. now owns 1,966,218 shares of the company’s stock worth $132,641,000 after acquiring an additional 1,897,095 shares during the period. Egerton Capital UK LLP boosted its holdings in shares of Activision Blizzard by 29.1% during the second quarter. Egerton Capital UK LLP now owns 7,286,230 shares of the company’s stock worth $556,085,000 after acquiring an additional 1,642,285 shares during the period. ADAMCAPITAL Gestao de Recursos Ltda. bought a new stake in shares of Activision Blizzard during the second quarter worth approximately $108,371,000. Finally, Flossbach Von Storch AG boosted its holdings in shares of Activision Blizzard by 5,313.4% during the second quarter. Flossbach Von Storch AG now owns 1,190,950 shares of the company’s stock worth $90,893,000 after acquiring an additional 1,168,950 shares during the period. Institutional investors and hedge funds own 87.04% of the company’s stock.
Shares of ATVI stock opened at $81.27 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.98 and a quick ratio of 2.96. The company has a market capitalization of $61.39 billion, a P/E ratio of 34.41, a P/E/G ratio of 2.15 and a beta of 0.87. Activision Blizzard, Inc. has a 1 year low of $57.29 and a 1 year high of $82.03.
Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings results on Thursday, August 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.11. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Activision Blizzard had a return on equity of 18.00% and a net margin of 6.96%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 earnings per share. analysts predict that Activision Blizzard, Inc. will post 2.49 earnings per share for the current year.
A number of equities research analysts have recently issued reports on the company. BidaskClub upgraded Activision Blizzard from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Robert W. Baird boosted their price objective on Activision Blizzard from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday. Wedbush set a $81.00 price objective on Activision Blizzard and gave the stock a “buy” rating in a report on Thursday, July 26th. Bank of America cut Activision Blizzard from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $84.00 to $77.00 in a report on Friday, August 31st. Finally, Barclays reduced their price objective on Activision Blizzard from $82.00 to $79.00 and set a “hold” rating for the company in a report on Sunday, August 5th. Nine investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $79.32.
In related news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $68.70, for a total value of $1,357,580.70. Following the completion of the sale, the chief executive officer now directly owns 20,324 shares in the company, valued at $1,396,258.80. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.29% of the company’s stock.
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. 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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