Cozad Asset Management Inc. bought a new position in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 84,577 shares of the company’s stock, valued at approximately $6,455,000. Activision Blizzard accounts for 2.0% of Cozad Asset Management Inc.’s investment portfolio, making the stock its 5th biggest position.
A number of other large investors have also modified their holdings of ATVI. OppenheimerFunds Inc. boosted its position in 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 purchasing an additional 3,078,408 shares during the period. CI Global Investments Inc. boosted its position in 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 purchasing an additional 1,897,095 shares during the period. Egerton Capital UK LLP boosted its position in 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 purchasing an additional 1,642,285 shares during the period. ADAMCAPITAL Gestao de Recursos Ltda. bought a new position in Activision Blizzard during the second quarter worth about $108,371,000. Finally, Alecta Pensionsforsakring Omsesidigt bought a new position in shares of Activision Blizzard in the first quarter valued at approximately $94,402,000. Hedge funds and other institutional investors own 87.05% of the company’s stock.
ATVI has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on shares of Activision Blizzard from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, July 11th. Piper Jaffray Companies restated an “overweight” rating and issued a $88.00 price objective on shares of Activision Blizzard in a research report on Wednesday, September 26th. BidaskClub lowered shares of Activision Blizzard from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Wedbush set a $81.00 price objective on shares of Activision Blizzard and gave the company a “buy” rating in a research report on Thursday, July 26th. Finally, Bank of America lowered shares of Activision Blizzard from a “buy” rating to a “neutral” rating and cut their price objective for the company from $84.00 to $77.00 in a research report on Friday, August 31st. Nine investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Activision Blizzard has an average rating of “Buy” and a consensus price target of $80.53.
In related news, CEO Riccardo Zacconi sold 19,761 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $68.70, for a total value of $1,357,580.70. Following the sale, the chief executive officer now directly owns 20,324 shares of the company’s stock, valued at $1,396,258.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.29% of the company’s stock.
ATVI traded down $0.77 on Friday, reaching $79.59. The company had a trading volume of 5,280,024 shares, compared to its average volume of 6,190,942. The company has a market capitalization of $63.42 billion, a P/E ratio of 38.82, a P/E/G ratio of 2.22 and a beta of 0.86. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.98 and a quick ratio of 2.96. Activision Blizzard, Inc. has a 52-week low of $57.29 and a 52-week high of $84.68.
Activision Blizzard (NASDAQ:ATVI) last announced its earnings results on Thursday, August 2nd. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.11. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.38 billion. Activision Blizzard had a net margin of 6.96% and a return on equity of 18.00%. Activision Blizzard’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the firm posted $0.32 earnings per share. On average, equities analysts anticipate that Activision Blizzard, Inc. will post 2.49 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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