Dendur Capital LP raised its stake in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 72.1% in the 2nd quarter, Holdings Channel reports. The fund owned 118,750 shares of the company’s stock after acquiring an additional 49,750 shares during the quarter. Activision Blizzard accounts for approximately 3.4% of Dendur Capital LP’s portfolio, making the stock its 10th biggest position. Dendur Capital LP’s holdings in Activision Blizzard were worth $9,013,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of ATVI. Atom Investors LP acquired a new stake in shares of Activision Blizzard in the 2nd quarter worth approximately $3,718,000. HBK Sorce Advisory LLC acquired a new stake in shares of Activision Blizzard in the 2nd quarter worth approximately $750,000. Cipher Capital LP acquired a new stake in Activision Blizzard during the 2nd quarter valued at $3,871,000. New Vernon Investment Management LLC acquired a new stake in Activision Blizzard during the 2nd quarter valued at $759,000. Finally, Cape Cod Five Cents Savings Bank acquired a new stake in Activision Blizzard during the 2nd quarter valued at $3,120,000. 86.12% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:ATVI traded down $1.30 during mid-day trading on Friday, hitting $79.01. The company had a trading volume of 8,945,559 shares, compared to its average volume of 6,312,590. The business has a fifty day simple moving average of $82.02 and a 200-day simple moving average of $71.02. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.20. Activision Blizzard, Inc. has a 1 year low of $50.25 and a 1 year high of $87.73. The firm has a market capitalization of $60.99 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 1.53 and a beta of 0.68.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.63 by $0.30. Activision Blizzard had a return on equity of 17.66% and a net margin of 25.96%. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $1.69 billion. As a group, research analysts anticipate that Activision Blizzard, Inc. will post 2.99 earnings per share for the current year.
A number of equities research analysts have commented on the company. Jefferies Financial Group reiterated a “buy” rating and set a $80.00 target price on shares of Activision Blizzard in a report on Monday, June 15th. Citigroup increased their target price on Activision Blizzard from $73.00 to $83.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. KeyCorp increased their target price on Activision Blizzard from $83.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. UBS Group increased their target price on Activision Blizzard from $84.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, BMO Capital Markets increased their target price on Activision Blizzard from $82.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $85.03.
In other Activision Blizzard news, CAO Jesse Yang bought 1,000 shares of the stock in a transaction dated Friday, August 14th. The stock was bought at an average cost of $80.00 per share, for a total transaction of $80,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Claudine Macartney sold 12,902 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $86.06, for a total value of $1,110,346.12. The disclosure for this sale can be found here. Insiders have sold 62,904 shares of company stock valued at $5,286,012 over the last 90 days. Insiders own 1.29% 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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