Maverick Capital Ltd. Takes Position in Activision Blizzard, Inc. (NASDAQ:ATVI)

Maverick Capital Ltd. purchased a new stake in Activision Blizzard, Inc. (NASDAQ:ATVI) in the first quarter, HoldingsChannel reports. The firm purchased 14,621 shares of the company’s stock, valued at approximately $1,360,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Heartland Consultants Inc. acquired a new stake in shares of Activision Blizzard in the first quarter valued at approximately $467,000. Alyeska Investment Group L.P. raised its position in shares of Activision Blizzard by 285.1% in the first quarter. Alyeska Investment Group L.P. now owns 520,727 shares of the company’s stock valued at $48,428,000 after buying an additional 385,492 shares in the last quarter. Psagot Investment House Ltd. raised its position in shares of Activision Blizzard by 1.3% in the first quarter. Psagot Investment House Ltd. now owns 24,100 shares of the company’s stock valued at $2,241,000 after buying an additional 300 shares in the last quarter. Perigon Wealth Management LLC raised its position in shares of Activision Blizzard by 15.8% in the first quarter. Perigon Wealth Management LLC now owns 3,577 shares of the company’s stock valued at $333,000 after buying an additional 488 shares in the last quarter. Finally, Davidson Kempner Capital Management LP raised its position in shares of Activision Blizzard by 25.9% in the first quarter. Davidson Kempner Capital Management LP now owns 1,283,516 shares of the company’s stock valued at $119,354,000 after buying an additional 264,315 shares in the last quarter. Institutional investors own 86.01% of the company’s stock.

Shares of Activision Blizzard stock opened at $91.17 on Thursday. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.24. Activision Blizzard, Inc. has a twelve month low of $71.19 and a twelve month high of $104.53. The company has a market capitalization of $70.84 billion, a PE ratio of 30.70, a price-to-earnings-growth ratio of 1.73 and a beta of 0.60. The business has a fifty day simple moving average of $94.39.

Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings data on Monday, May 3rd. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.19. Activision Blizzard had a net margin of 26.95% and a return on equity of 18.18%. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the firm posted $0.65 earnings per share. Activision Blizzard’s revenue for the quarter was up 36.0% on a year-over-year basis. As a group, equities research analysts anticipate that Activision Blizzard, Inc. will post 3.42 EPS for the current year.

Several research analysts have commented on the stock. Moffett Nathanson assumed coverage on shares of Activision Blizzard in a research report on Thursday, June 24th. They set a “buy” rating and a $124.00 price objective for the company. Zacks Investment Research downgraded shares of Activision Blizzard from a “hold” rating to a “strong sell” rating and set a $78.00 price objective for the company. in a research report on Wednesday. Morgan Stanley boosted their price objective on shares of Activision Blizzard from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, May 5th. Jefferies Financial Group assumed coverage on shares of Activision Blizzard in a research report on Friday, April 23rd. They set a “buy” rating and a $120.00 price objective for the company. Finally, Benchmark boosted their price objective on shares of Activision Blizzard from $118.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, May 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $110.04.

In other Activision Blizzard news, CFO Armin Zerza sold 23,723 shares of the company’s stock in a transaction on Tuesday, May 11th. The shares were sold at an average price of $94.86, for a total transaction of $2,250,363.78. Following the sale, the chief financial officer now owns 162,438 shares of the company’s stock, valued at $15,408,868.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter J. Nolan purchased 2,000 shares of the business’s stock in a transaction on Wednesday, May 12th. The shares were purchased at an average cost of $93.86 per share, for a total transaction of $187,720.00. The disclosure for this purchase can be found here. In the last three months, insiders purchased 22,000 shares of company stock worth $2,089,120. 0.77% of the stock is currently owned by insiders.

Activision Blizzard Profile

Activision Blizzard, Inc engages in the development and publication of interactive entertainment. It operates through the following segments: Activision Publishing, Blizzard Entertainment and King Digital Entertainment. The Activision Publishing segment develops and publishes interactive software products and entertainment content, particularly for the console platform.

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Institutional Ownership by Quarter for Activision Blizzard (NASDAQ:ATVI)

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