Nomura Asset Management Co. Ltd. cut its stake in Activision Blizzard, Inc. (NASDAQ:ATVI) by 4.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 317,596 shares of the company’s stock after selling 15,928 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Activision Blizzard were worth $18,891,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of ATVI. AlphaCore Capital LLC bought a new stake in Activision Blizzard in the 1st quarter valued at $27,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Activision Blizzard during the 1st quarter worth about $27,000. HighMark Wealth Management LLC bought a new position in shares of Activision Blizzard during the 4th quarter worth about $29,000. Rational Advisors LLC lifted its holdings in shares of Activision Blizzard by 48.6% during the 1st quarter. Rational Advisors LLC now owns 550 shares of the company’s stock worth $33,000 after acquiring an additional 180 shares during the period. Finally, Belmont Capital LLC bought a new position in shares of Activision Blizzard during the 1st quarter worth about $34,000. 87.16% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Christopher B. Walther sold 159,452 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $55.00, for a total transaction of $8,769,860.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Jesse Yang acquired 400 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were purchased at an average cost of $68.52 per share, with a total value of $27,408.00. Following the transaction, the chief accounting officer now directly owns 700 shares of the company’s stock, valued at $47,964. The disclosure for this purchase can be found here. Insiders sold 483,452 shares of company stock worth $32,274,300 over the last 90 days. 1.13% of the stock is currently owned by corporate insiders.
Shares of ATVI stock traded down $1.72 on Thursday, hitting $72.10. The company’s stock had a trading volume of 4,341,090 shares, compared to its average volume of 8,269,159. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.78 and a current ratio of 2.78. The stock’s 50 day moving average is $70.29 and its 200-day moving average is $61.85. Activision Blizzard, Inc. has a fifty-two week low of $44.58 and a fifty-two week high of $75.97. The company has a market capitalization of $56.05 billion, a PE ratio of 36.54, a PEG ratio of 1.47 and a beta of 0.62.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.20. Activision Blizzard had a net margin of 24.21% and a return on equity of 14.57%. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the company posted $0.58 earnings per share. Activision Blizzard’s revenue was up 21.0% compared to the same quarter last year. On average, research analysts forecast that Activision Blizzard, Inc. will post 2.51 earnings per share for the current year.
Several equities analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Activision Blizzard from $66.00 to $84.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Stifel Nicolaus reissued a “buy” rating and set a $81.00 price target on shares of Activision Blizzard in a report on Monday, May 18th. MKM Partners raised shares of Activision Blizzard from a “neutral” rating to a “buy” rating and lifted their price target for the company from $64.00 to $72.00 in a report on Thursday, April 2nd. Bank of America raised their price objective on shares of Activision Blizzard from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, SunTrust Banks raised their price objective on shares of Activision Blizzard from $68.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, May 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $73.66.
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. 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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