CI Global Investments Inc. trimmed its holdings in shares of Activision Blizzard, Inc (NASDAQ:ATVI) by 77.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,343 shares of the company’s stock after selling 235,986 shares during the quarter. CI Global Investments Inc.’s holdings in Activision Blizzard were worth $4,409,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of ATVI. Cornerstone Advisors Inc. increased its position in shares of Activision Blizzard by 321.5% during the 3rd quarter. Cornerstone Advisors Inc. now owns 1,547 shares of the company’s stock worth $100,000 after purchasing an additional 1,180 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new stake in shares of Activision Blizzard during the 2nd quarter worth about $142,000. Huntington National Bank increased its position in shares of Activision Blizzard by 122.6% during the 2nd quarter. Huntington National Bank now owns 2,480 shares of the company’s stock worth $143,000 after purchasing an additional 1,366 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its position in shares of Activision Blizzard by 16.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,606 shares of the company’s stock worth $150,000 after purchasing an additional 363 shares during the last quarter. Finally, Phocas Financial Corp. acquired a new stake in shares of Activision Blizzard during the 2nd quarter worth about $173,000. 86.15% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on the company. Benchmark Co. lifted their target price on Activision Blizzard from $71.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Bank of America Corporation raised Activision Blizzard from a “neutral” rating to a “buy” rating and lifted their target price for the company from $65.00 to $76.00 in a research report on Friday, August 4th. UBS AG reaffirmed a “buy” rating and issued a $72.00 target price (up from $67.00) on shares of Activision Blizzard in a research report on Monday, July 31st. MKM Partners reaffirmed a “buy” rating and issued a $63.00 target price (up from $60.00) on shares of Activision Blizzard in a research report on Wednesday, July 26th. Finally, Needham & Company LLC assumed coverage on Activision Blizzard in a research report on Monday, July 17th. They issued a “buy” rating and a $75.00 target price for the company. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $68.75.
In other news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $61.32, for a total transaction of $1,211,744.52. Following the completion of the sale, the chief executive officer now owns 48,472 shares in the company, valued at $2,972,303.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.12% of the stock is currently owned by insiders.
Shares of Activision Blizzard, Inc (ATVI) traded up $0.35 during midday trading on Tuesday, reaching $63.97. The company’s stock had a trading volume of 2,265,419 shares, compared to its average volume of 6,844,182. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.22 and a current ratio of 2.25. Activision Blizzard, Inc has a one year low of $35.12 and a one year high of $67.03. The stock has a market capitalization of $48,500.00, a PE ratio of 28.64, a P/E/G ratio of 2.20 and a beta of 1.06.
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Activision Blizzard Profile
Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. The Company develops and distributes content and services across various gaming platforms, including video game consoles, personal computers (PC) and mobile devices. Its segments include Activision Publishing, Inc (Activision), Blizzard Entertainment, Inc (Blizzard), King Digital Entertainment (King) and Other.
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