Front Barnett Associates LLC reduced its position in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 9.6% during the third quarter, HoldingsChannel reports. The firm owned 141,924 shares of the company’s stock after selling 15,024 shares during the quarter. Activision Blizzard comprises about 1.8% of Front Barnett Associates LLC’s holdings, making the stock its 20th largest holding. Front Barnett Associates LLC’s holdings in Activision Blizzard were worth $11,807,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Altman Advisors Inc. acquired a new position in shares of Activision Blizzard during the second quarter worth $323,000. Asset Advisors Investment Management LLC acquired a new position in shares of Activision Blizzard during the third quarter worth $100,000. Ashburton Jersey Ltd acquired a new position in shares of Activision Blizzard during the second quarter worth $107,000. Quad Cities Investment Group LLC acquired a new position in shares of Activision Blizzard during the second quarter worth $114,000. Finally, NuWave Investment Management LLC acquired a new position in shares of Activision Blizzard during the second quarter worth $121,000. 86.92% of the stock is currently owned by institutional investors and hedge funds.
ATVI stock opened at $55.01 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.98 and a quick ratio of 2.96. Activision Blizzard, Inc. has a 1-year low of $53.50 and a 1-year high of $84.68. The firm has a market cap of $49.63 billion, a price-to-earnings ratio of 26.83, a price-to-earnings-growth ratio of 1.73 and a beta of 1.11.
Activision Blizzard (NASDAQ:ATVI) last released its earnings results on Thursday, November 8th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). Activision Blizzard had a net margin of 6.96% and a return on equity of 16.39%. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the firm earned $0.25 EPS. The firm’s revenue for the quarter was down 12.6% on a year-over-year basis. Equities research analysts predict that Activision Blizzard, Inc. will post 2.49 earnings per share for the current fiscal year.
In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction on Monday, August 20th. The shares were 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 owns 20,324 shares in the company, valued at $1,396,258.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.29% of the stock is owned by insiders.
A number of research firms have recently commented on ATVI. Wedbush set a $81.00 price target on shares of Activision Blizzard and gave the company a “buy” rating in a report on Friday. Barclays set a $78.00 price target on shares of Activision Blizzard and gave the company a “buy” rating in a report on Friday. UBS Group cut their price target on shares of Activision Blizzard from $88.00 to $70.00 and set a “buy” rating on the stock in a report on Friday. Sanford C. Bernstein cut their price target on shares of Activision Blizzard from $72.00 to $62.00 and set a “market perform” rating on the stock in a report on Friday. Finally, Bank of America cut their price target on shares of Activision Blizzard from $77.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $77.62.
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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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