Insight 2811 Inc. purchased a new position in Activision Blizzard, Inc. (NASDAQ:ATVI) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,938 shares of the company’s stock, valued at approximately $498,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of ATVI. Massey Quick Simon & CO. LLC purchased a new stake in Activision Blizzard during the first quarter worth about $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in Activision Blizzard during the first quarter worth about $27,000. Capital Investment Advisory Services LLC purchased a new stake in Activision Blizzard during the fourth quarter worth about $37,000. Lindbrook Capital LLC purchased a new stake in Activision Blizzard during the fourth quarter worth about $37,000. Finally, Pearl River Capital LLC purchased a new stake in Activision Blizzard during the fourth quarter worth about $41,000. 86.84% of the stock is owned by institutional investors.
In related news, insider Christopher B. Walther sold 2,333 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $44.00, for a total transaction of $102,652.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.31% of the company’s stock.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.13. Activision Blizzard had a return on equity of 16.19% and a net margin of 23.90%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the company posted $0.38 EPS. The firm’s revenue was down 8.7% on a year-over-year basis. On average, analysts predict that Activision Blizzard, Inc. will post 2 earnings per share for the current year.
A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Activision Blizzard from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. William Blair reissued an “outperform” rating on shares of Activision Blizzard in a report on Friday, May 3rd. ValuEngine downgraded Activision Blizzard from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Wedbush reiterated an “outperform” rating and issued a $60.00 price objective on shares of Activision Blizzard in a research report on Monday, April 1st. Finally, Citigroup began coverage on Activision Blizzard in a research report on Friday, June 7th. They issued a “neutral” rating and a $47.00 price objective for the company. Fourteen analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $60.67.
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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