Brasada Capital Management LP Acquires Shares of 7,000 Activision Blizzard, Inc. (ATVI)

Brasada Capital Management LP acquired a new stake in Activision Blizzard, Inc. (NASDAQ:ATVI) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,000 shares of the company’s stock, valued at approximately $472,000.

Several other institutional investors have also added to or reduced their stakes in the business. Suntrust Banks Inc. lifted its position in shares of Activision Blizzard by 91.9% during the first quarter. Suntrust Banks Inc. now owns 109,541 shares of the company’s stock valued at $7,388,000 after purchasing an additional 52,470 shares in the last quarter. Redwood Investments LLC bought a new position in shares of Activision Blizzard during the first quarter valued at about $7,160,000. Amalgamated Bank lifted its position in shares of Activision Blizzard by 10.9% during the first quarter. Amalgamated Bank now owns 108,659 shares of the company’s stock valued at $7,330,000 after purchasing an additional 10,637 shares in the last quarter. Summit Trail Advisors LLC lifted its position in shares of Activision Blizzard by 7,181.8% during the first quarter. Summit Trail Advisors LLC now owns 278,603 shares of the company’s stock valued at $279,000 after purchasing an additional 274,777 shares in the last quarter. Finally, CIBC World Markets Inc. lifted its position in shares of Activision Blizzard by 274.5% during the first quarter. CIBC World Markets Inc. now owns 82,574 shares of the company’s stock valued at $5,570,000 after purchasing an additional 60,525 shares in the last quarter. 85.74% of the stock is currently owned by hedge funds and other institutional investors.

ATVI has been the topic of a number of recent analyst reports. BidaskClub raised shares of Activision Blizzard from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 1st. ValuEngine raised shares of Activision Blizzard from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Vetr raised shares of Activision Blizzard from a “buy” rating to a “strong-buy” rating and set a $83.48 price target on the stock in a research report on Tuesday, March 6th. Zacks Investment Research raised shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research report on Wednesday, March 7th. Finally, Citigroup reissued a “positive” rating and set a $87.00 price target (up from $78.00) on shares of Activision Blizzard in a research report on Monday, March 12th. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $76.07.

Shares of ATVI stock opened at $75.98 on Friday. The stock has a market capitalization of $58.49 billion, a price-to-earnings ratio of 37.06, a P/E/G ratio of 2.01 and a beta of 1.20. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.18 and a current ratio of 2.19. Activision Blizzard, Inc. has a 52 week low of $55.86 and a 52 week high of $79.63.

Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Thursday, May 3rd. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.05. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.32 billion. Activision Blizzard had a net margin of 4.78% and a return on equity of 17.91%. The company’s revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the company earned $0.56 earnings per share. research analysts predict that Activision Blizzard, Inc. will post 2.48 earnings per share for the current year.

In other news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $70.49, for a total value of $1,392,952.89. Following the completion of the transaction, the chief executive officer now owns 27,361 shares in the company, valued at $1,928,676.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.29% of the stock is owned by company insiders.

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

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