Activision Blizzard, Inc. (ATVI) Stake Raised by Russell Investments Group Ltd.
Russell Investments Group Ltd. lifted its holdings in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 7.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,938 shares of the company’s stock after purchasing an additional 7,842 shares during the period. Russell Investments Group Ltd.’s holdings in Activision Blizzard were worth $8,979,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Treasurer State of Michigan raised its stake in Activision Blizzard by 0.9% in the 2nd quarter. State Treasurer State of Michigan now owns 225,344 shares of the company’s stock valued at $17,198,000 after acquiring an additional 2,000 shares during the period. Flossbach Von Storch AG raised its stake 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 during the period. Usca Ria LLC bought a new stake in Activision Blizzard in the 2nd quarter valued at about $383,000. Quantitative Systematic Strategies LLC bought a new stake in Activision Blizzard in the 2nd quarter valued at about $1,196,000. Finally, Cedar Capital LLC raised its stake in Activision Blizzard by 63.0% in the 2nd quarter. Cedar Capital LLC now owns 25,098 shares of the company’s stock valued at $1,915,000 after acquiring an additional 9,703 shares during the period. Institutional investors own 86.92% of the company’s stock.
In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $68.70, for a total transaction of $1,357,580.70. Following the completion of the transaction, the chief executive officer now owns 20,324 shares of the company’s stock, valued at approximately $1,396,258.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.29% of the stock is owned by insiders.
Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Thursday, August 2nd. The company reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.11. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.38 billion. Activision Blizzard had a return on equity of 18.00% and a net margin of 6.96%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 EPS. sell-side analysts expect that Activision Blizzard, Inc. will post 2.49 EPS for the current fiscal year.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Activision Blizzard from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research note on Wednesday, July 4th. Barclays lowered their price objective on Activision Blizzard from $82.00 to $79.00 and set a “hold” rating on the stock in a research note on Sunday, August 5th. Piper Jaffray Companies boosted their price objective on Activision Blizzard to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, July 25th. BidaskClub upgraded Activision Blizzard from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 13th. Finally, KeyCorp boosted their price objective on Activision Blizzard from $83.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, June 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $78.55.
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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