Rehmann Capital Advisory Group Decreases Stock Position in Activision Blizzard, Inc. (NASDAQ:ATVI)

Rehmann Capital Advisory Group decreased its position in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 26.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,891 shares of the company’s stock after selling 667 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Activision Blizzard were worth $86,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Marshall Wace North America L.P. boosted its stake in shares of Activision Blizzard by 313.1% during the 1st quarter. Marshall Wace North America L.P. now owns 320,754 shares of the company’s stock worth $14,604,000 after purchasing an additional 243,115 shares during the period. Marshall Wace LLP raised its holdings in shares of Activision Blizzard by 21.8% in the 1st quarter. Marshall Wace LLP now owns 236,106 shares of the company’s stock valued at $10,750,000 after purchasing an additional 42,272 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in shares of Activision Blizzard in the 1st quarter valued at about $209,000. Belpointe Asset Management LLC bought a new stake in shares of Activision Blizzard in the 1st quarter valued at about $109,000. Finally, Thor Advisors LLC bought a new stake in shares of Activision Blizzard in the 1st quarter valued at about $40,000. Institutional investors own 86.84% of the company’s stock.

Activision Blizzard stock traded down $0.14 during midday trading on Friday, hitting $47.20. 3,542,831 shares of the stock were exchanged, compared to its average volume of 6,221,537. Activision Blizzard, Inc. has a fifty-two week low of $39.85 and a fifty-two week high of $84.68. The firm has a market cap of $36.16 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 2.35 and a beta of 0.90. The stock’s 50-day moving average price is $45.61. 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 (NASDAQ:ATVI) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.13. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Activision Blizzard had a net margin of 23.90% and a return on equity of 16.19%. Activision Blizzard’s revenue was down 8.7% compared to the same quarter last year. During the same period last year, the business earned $0.38 earnings per share. As a group, equities analysts anticipate that Activision Blizzard, Inc. will post 1.98 EPS for the current fiscal year.

In other news, insider Christopher B. Walther sold 2,333 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $44.00, for a total value of $102,652.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher B. Walther sold 11,333 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $47.91, for a total transaction of $542,964.03. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,999 shares of company stock valued at $752,724. 1.29% of the stock is currently owned by insiders.

ATVI has been the subject of several recent research reports. Piper Jaffray Companies set a $15.00 price target on shares of BioCryst Pharmaceuticals and gave the company a “buy” rating in a report on Monday, April 22nd. Stephens set a $37.00 price objective on shares of Talos Energy and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. BidaskClub upgraded shares of Zillow Group from a “hold” rating to a “buy” rating in a research note on Wednesday, May 22nd. Zacks Investment Research lowered shares of Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 9th. Finally, Jefferies Financial Group upped their price target on shares of Wynn Resorts from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday. Fourteen research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $60.03.

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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