Allen Investment Management LLC lifted its position in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 67.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,285 shares of the company’s stock after purchasing an additional 15,077 shares during the quarter. Allen Investment Management LLC’s holdings in Activision Blizzard were worth $3,102,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in ATVI. Egerton Capital UK LLP boosted its position in shares of 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 in the last quarter. ADAMCAPITAL Gestao de Recursos Ltda. bought a new stake in Activision Blizzard in the 2nd quarter valued at $108,371,000. Bessemer Group Inc. lifted its position in Activision Blizzard by 127,027.1% in the 3rd quarter. Bessemer Group Inc. now owns 1,220,420 shares of the company’s stock valued at $101,527,000 after acquiring an additional 1,219,460 shares in the last quarter. Flossbach Von Storch AG lifted its position in Activision Blizzard by 5,313.4% in the 2nd quarter. Flossbach Von Storch AG now owns 1,190,950 shares of the company’s stock valued at $90,893,000 after acquiring an additional 1,168,950 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in Activision Blizzard by 545.7% in the 2nd quarter. Marshall Wace LLP now owns 1,216,280 shares of the company’s stock valued at $92,826,000 after acquiring an additional 1,027,904 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors.
Several equities research analysts recently commented on the stock. Gabelli assumed coverage on shares of Activision Blizzard in a research report on Tuesday. They issued a “buy” rating and a $64.00 price objective on the stock. Barclays raised shares of Activision Blizzard from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $79.00 to $86.00 in a research report on Monday, October 15th. MKM Partners cut their price objective on shares of Activision Blizzard to $71.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 30th. Bank of America lowered their price target on shares of Activision Blizzard from $77.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, November 9th. Finally, Zacks Investment Research lowered shares of Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $75.53.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings data on Thursday, November 8th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.66 billion. Activision Blizzard had a return on equity of 15.44% and a net margin of 8.07%. The firm’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Research analysts expect that Activision Blizzard, Inc. will post 2.36 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. 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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