Folger Hill Asset Management LP Buys New Holdings in Activision Blizzard, Inc. (ATVI)

Folger Hill Asset Management LP bought a new position in Activision Blizzard, Inc. (NASDAQ:ATVI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,900 shares of the company’s stock, valued at approximately $740,000. Activision Blizzard makes up approximately 4.5% of Folger Hill Asset Management LP’s portfolio, making the stock its 8th biggest holding.

Other large investors have also made changes to their positions in the company. Mission Wealth Management LP lifted its holdings in Activision Blizzard by 13.5% in the second quarter. Mission Wealth Management LP now owns 6,174 shares of the company’s stock valued at $471,000 after acquiring an additional 732 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its holdings in Activision Blizzard by 13.8% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 6,420 shares of the company’s stock valued at $490,000 after acquiring an additional 780 shares during the period. Beacon Investment Advisory Services Inc. lifted its holdings in Activision Blizzard by 0.7% in the second quarter. Beacon Investment Advisory Services Inc. now owns 120,887 shares of the company’s stock valued at $9,226,000 after acquiring an additional 816 shares during the period. Perennial Advisors LLC lifted its holdings in Activision Blizzard by 5.1% in the second quarter. Perennial Advisors LLC now owns 16,976 shares of the company’s stock valued at $1,296,000 after acquiring an additional 817 shares during the period. Finally, Coastline Trust Co lifted its holdings in Activision Blizzard by 5.4% in the third quarter. Coastline Trust Co now owns 16,020 shares of the company’s stock valued at $1,333,000 after acquiring an additional 820 shares during the period. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ATVI opened at $46.52 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.09 and a quick ratio of 2.01. The stock has a market capitalization of $35.50 billion, a price-to-earnings ratio of 22.69, a P/E/G ratio of 1.43 and a beta of 1.05. Activision Blizzard, Inc. has a 52 week low of $46.34 and a 52 week high of $84.68.

Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings results on Thursday, November 8th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Activision Blizzard had a return on equity of 15.44% and a net margin of 8.07%. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the company earned $0.25 EPS. The business’s quarterly revenue was down 12.6% compared to the same quarter last year. As a group, research analysts anticipate that Activision Blizzard, Inc. will post 2.38 earnings per share for the current fiscal year.

ATVI has been the topic of a number of recent research reports. Argus reissued a “buy” rating and issued a $90.00 target price (up previously from $81.00) on shares of Activision Blizzard in a report on Friday, September 21st. BidaskClub raised Activision Blizzard from a “hold” rating to a “buy” rating in a report on Saturday, September 29th. BTIG Research increased their target price on Activision Blizzard from $80.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, October 16th. SunTrust Banks set a $85.00 target price on Activision Blizzard and gave the company a “buy” rating in a report on Wednesday, October 17th. Finally, Stifel Nicolaus lowered their target price on Activision Blizzard from $82.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Activision Blizzard has a consensus rating of “Buy” and a consensus price target of $75.53.

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

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