Connor Clark & Lunn Investment Management Ltd. reduced its position in Activision Blizzard, Inc. (NASDAQ:ATVI) by 79.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 52,407 shares of the company’s stock after selling 205,903 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Activision Blizzard were worth $2,386,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. CWM LLC raised its stake in shares of Activision Blizzard by 30.8% in the fourth quarter. CWM LLC now owns 2,831 shares of the company’s stock worth $132,000 after buying an additional 666 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Activision Blizzard by 26.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 178,070 shares of the company’s stock worth $8,293,000 after buying an additional 36,871 shares during the period. Sheaff Brock Investment Advisors LLC raised its stake in shares of Activision Blizzard by 13.8% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 5,769 shares of the company’s stock worth $269,000 after buying an additional 700 shares during the period. Norris Perne & French LLP MI raised its stake in shares of Activision Blizzard by 64.0% in the fourth quarter. Norris Perne & French LLP MI now owns 220,063 shares of the company’s stock worth $10,248,000 after buying an additional 85,850 shares during the period. Finally, Quantamental Technologies LLC bought a new position in shares of Activision Blizzard in the fourth quarter worth about $265,000. 86.93% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently issued reports on ATVI. Citigroup began coverage on Activision Blizzard in a research report on Friday, June 7th. They set a “neutral” rating and a $47.00 target price for the company. William Blair reiterated an “outperform” rating on shares of Activision Blizzard in a research report on Friday, May 3rd. Zacks Investment Research cut Activision Blizzard from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Nomura began coverage on Activision Blizzard in a research report on Thursday, June 6th. They set a “neutral” rating and a $49.00 target price for the company. Finally, ValuEngine cut Activision Blizzard from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Fourteen research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $60.67.
NASDAQ ATVI opened at $46.70 on Wednesday. The company has a market cap of $35.77 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.24 and a beta of 0.89. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.63 and a quick ratio of 2.61. Activision Blizzard, Inc. has a 1-year low of $39.85 and a 1-year high of $84.68.
Activision Blizzard (NASDAQ:ATVI) last released 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. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Activision Blizzard had a return on equity of 16.19% and a net margin of 23.90%. The firm’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 EPS. As a group, research analysts forecast that Activision Blizzard, Inc. will post 2 EPS for the current fiscal year.
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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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