Colony Group LLC Reduces Position in Activision Blizzard, Inc. (ATVI)
Colony Group LLC cut its position in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 2.9% in the second quarter, Holdings Channel reports. The institutional investor owned 27,964 shares of the company’s stock after selling 826 shares during the period. Colony Group LLC’s holdings in Activision Blizzard were worth $2,134,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in ATVI. Signaturefd LLC bought a new position in Activision Blizzard during the first quarter valued at approximately $114,000. Quad Cities Investment Group LLC bought a new position in Activision Blizzard during the second quarter valued at approximately $114,000. NuWave Investment Management LLC bought a new position in Activision Blizzard during the second quarter valued at approximately $121,000. Kaizen Advisory LLC boosted its stake in Activision Blizzard by 155.2% during the second quarter. Kaizen Advisory LLC now owns 1,876 shares of the company’s stock valued at $143,000 after buying an additional 1,141 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Activision Blizzard in the 2nd quarter valued at approximately $156,000. 87.04% of the stock is owned by institutional investors.
In related news, CEO Riccardo Zacconi sold 19,761 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 20,324 shares of the company’s stock, valued at approximately $1,396,258.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.29% of the stock is currently owned by company insiders.
Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings results on Thursday, August 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.11. Activision Blizzard had a return on equity of 18.00% and a net margin of 6.96%. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the company earned $0.32 EPS. Activision Blizzard’s quarterly revenue was down 2.3% compared to the same quarter last year. research analysts expect that Activision Blizzard, Inc. will post 2.49 EPS for the current year.
ATVI has been the subject of several analyst reports. Morgan Stanley raised their price objective on Activision Blizzard from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, July 11th. BidaskClub lowered Activision Blizzard from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 25th. Wedbush set a $81.00 price objective on Activision Blizzard and gave the company a “buy” rating in a research note on Thursday, July 26th. Bank of America lowered Activision Blizzard from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $84.00 to $77.00 in a research note on Friday, August 31st. Finally, Needham & Company LLC raised their price objective on Activision Blizzard from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 31st. Nine equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Activision Blizzard currently has an average rating of “Buy” and a consensus price target of $79.32.
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. 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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