Gabelli Funds LLC lessened its stake in shares of Activision (NASDAQ:ATVI) by 1.1% in the 1st quarter, Holdings Channel reports. The firm owned 175,000 shares of the company’s stock after selling 2,000 shares during the period. Gabelli Funds LLC’s holdings in Activision were worth $11,806,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ATVI. BlackRock Inc. raised its position in shares of Activision by 5.8% during the 4th quarter. BlackRock Inc. now owns 54,967,203 shares of the company’s stock worth $3,480,525,000 after purchasing an additional 2,992,193 shares during the last quarter. Schwab Charles Investment Management Inc. acquired a new position in shares of Activision during the 4th quarter worth about $169,547,000. Egerton Capital UK LLP raised its position in shares of Activision by 22.0% during the 4th quarter. Egerton Capital UK LLP now owns 11,051,017 shares of the company’s stock worth $699,750,000 after purchasing an additional 1,991,213 shares during the last quarter. Alecta Pensionsforsakring Omsesidigt acquired a new position in shares of Activision during the 1st quarter worth about $94,402,000. Finally, Schroder Investment Management Group raised its position in shares of Activision by 109.5% during the 4th quarter. Schroder Investment Management Group now owns 2,659,241 shares of the company’s stock worth $168,383,000 after purchasing an additional 1,390,105 shares during the last quarter. Hedge funds and other institutional investors own 85.92% of the company’s stock.
Activision opened at $71.46 on Friday, MarketBeat.com reports. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.19 and a quick ratio of 2.18. The company has a market cap of $54.40 billion, a P/E ratio of 31.21, a P/E/G ratio of 1.93 and a beta of 1.17. Activision has a fifty-two week low of $55.41 and a fifty-two week high of $79.63.
Activision (NASDAQ:ATVI) last posted its quarterly earnings data on Thursday, May 3rd. The company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.05. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Activision had a net margin of 4.78% and a return on equity of 17.91%. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the company posted $0.56 EPS. equities analysts forecast that Activision will post 2.5 EPS for the current year.
Several analysts recently issued reports on the stock. Bank of America dropped their price objective on shares of Activision from $77.00 to $76.00 and set a “buy” rating for the company in a research note on Friday, May 4th. Wedbush set a $81.00 price objective on shares of Activision and gave the company a “buy” rating in a research note on Sunday, May 6th. Zacks Investment Research raised shares of Activision from a “sell” rating to a “hold” rating in a research note on Friday, May 11th. Credit Suisse Group upped their price objective on shares of Activision from $84.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, May 4th. Finally, TheStreet raised shares of Activision from a “c+” rating to a “b” rating in a research note on Thursday, May 3rd. Seven investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Activision has an average rating of “Buy” and an average price target of $75.41.
In related news, insider Dennis M. Durkin sold 71,488 shares of the stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $75.65, for a total transaction of $5,408,067.20. Following the completion of the transaction, the insider now owns 151,314 shares of the company’s stock, valued at approximately $11,446,904.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen G. Wereb sold 120,521 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $72.38, for a total transaction of $8,723,309.98. Following the transaction, the insider now directly owns 48,511 shares of the company’s stock, valued at approximately $3,511,226.18. The disclosure for this sale can be found here. Insiders have sold a total of 233,258 shares of company stock valued at $17,182,774 in the last ninety days. 2.12% of the stock is currently owned by corporate insiders.
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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