GAM Holding AG Sells 44,459 Shares of Activision Blizzard, Inc. (NASDAQ:ATVI)

GAM Holding AG lowered its position in Activision Blizzard, Inc. (NASDAQ:ATVI) by 63.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,600 shares of the company’s stock after selling 44,459 shares during the period. GAM Holding AG’s holdings in Activision Blizzard were worth $1,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Massey Quick Simon & CO. LLC purchased a new position in Activision Blizzard during the first quarter valued at approximately $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in Activision Blizzard during the first quarter valued at approximately $27,000. Capital Investment Advisory Services LLC purchased a new position in Activision Blizzard during the fourth quarter valued at approximately $37,000. Lindbrook Capital LLC purchased a new position in Activision Blizzard in the fourth quarter worth $37,000. Finally, Pearl River Capital LLC purchased a new position in Activision Blizzard in the fourth quarter worth $41,000. 86.84% of the stock is owned by institutional investors and hedge funds.

In other Activision Blizzard news, insider Christopher B. Walther sold 2,333 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $44.00, for a total transaction of $102,652.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.31% of the stock is owned by corporate insiders.

Several equities analysts have issued reports on the stock. Wedbush reaffirmed an “outperform” rating and issued a $56.00 price target on shares of Activision Blizzard in a report on Tuesday, May 21st. Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Activision Blizzard in a report on Monday, April 22nd. William Blair reissued an “outperform” rating on shares of Activision Blizzard in a report on Friday, May 3rd. Nomura assumed coverage on shares of Activision Blizzard in a report on Thursday, June 6th. They set a “neutral” rating and a $49.00 price objective on the stock. Finally, BidaskClub raised shares of Activision Blizzard from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Fourteen equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Activision Blizzard currently has a consensus rating of “Buy” and an average target price of $60.67.

Shares of ATVI stock traded up $0.30 during trading hours on Monday, hitting $47.50. The company had a trading volume of 4,752,636 shares, compared to its average volume of 10,282,314. The firm has a market capitalization of $36.67 billion, a PE ratio of 19.87, a PEG ratio of 2.33 and a beta of 0.90. Activision Blizzard, Inc. has a fifty-two week low of $39.85 and a fifty-two week high of $84.68. The company has a quick ratio of 2.61, a current ratio of 2.63 and a debt-to-equity ratio of 0.23. The business’s fifty day moving average is $45.01.

Activision Blizzard (NASDAQ:ATVI) last released its earnings results on Thursday, May 2nd. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.13. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. Activision Blizzard had a net margin of 23.90% and a return on equity of 16.19%. The firm’s quarterly revenue was down 8.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 EPS. Equities research analysts expect that Activision Blizzard, Inc. will post 2 earnings per share for the current year.

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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Institutional Ownership by Quarter for Activision Blizzard (NASDAQ:ATVI)

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