Royal London Asset Management Ltd. lessened its stake in Activision Blizzard, Inc. (NASDAQ:ATVI) by 7.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 297,796 shares of the company’s stock after selling 23,808 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Activision Blizzard were worth $14,057,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massey Quick Simon & CO. LLC acquired a new position in Activision Blizzard in the first quarter valued at about $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in Activision Blizzard in the first quarter valued at about $27,000. Thor Advisors LLC acquired a new position in Activision Blizzard in the first quarter valued at about $40,000. Lindbrook Capital LLC grew its stake in Activision Blizzard by 33.9% in the first quarter. Lindbrook Capital LLC now owns 1,083 shares of the company’s stock valued at $49,000 after acquiring an additional 274 shares during the period. Finally, FTB Advisors Inc. grew its stake in Activision Blizzard by 72.6% in the first quarter. FTB Advisors Inc. now owns 1,094 shares of the company’s stock valued at $49,000 after acquiring an additional 460 shares during the period. Institutional investors and hedge funds own 86.34% of the company’s stock.
NASDAQ ATVI traded up $0.87 during trading hours on Tuesday, hitting $47.95. 2,448,703 shares of the company traded hands, compared to its average volume of 6,667,360. The stock has a 50-day simple moving average of $47.41. Activision Blizzard, Inc. has a twelve month low of $39.85 and a twelve month 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 stock has a market cap of $36.86 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 2.40 and a beta of 0.90.
A number of research analysts have issued reports on ATVI shares. Wedbush reissued an “outperform” rating and issued a $60.00 target price on shares of Activision Blizzard in a research note on Friday. ValuEngine raised Activision Blizzard from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. KeyCorp reissued an “overweight” rating and issued a $60.00 target price on shares of Activision Blizzard in a research note on Tuesday, July 30th. UBS Group reissued a “buy” rating and issued a $56.00 target price (up from $52.00) on shares of Activision Blizzard in a research note on Friday. Finally, MKM Partners reaffirmed a “neutral” rating and set a $47.00 price objective (up from $45.00) on shares of Activision Blizzard in a research report on Friday. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Activision Blizzard has an average rating of “Buy” and an average target price of $59.73.
In other Activision Blizzard news, insider Christopher B. Walther sold 2,333 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $45.91, for a total value of $107,108.03. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Christopher B. Walther sold 11,333 shares of the company’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 value of $542,964.03. The disclosure for this sale can be found here. Insiders have sold 21,332 shares of company stock valued at $1,021,187 over the last three months. Insiders own 1.31% of the company’s stock.
Activision Blizzard 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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