Park West Asset Management LLC cut its position in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 67.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 210,000 shares of the company’s stock after selling 440,000 shares during the period. Park West Asset Management LLC’s holdings in Activision Blizzard were worth $14,167,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Highland Capital Management LP bought a new stake in Activision Blizzard during the 1st quarter valued at about $2,024,000. Amundi Pioneer Asset Management Inc. lifted its holdings in Activision Blizzard by 58.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 360,048 shares of the company’s stock valued at $24,289,000 after buying an additional 132,762 shares in the last quarter. LPL Financial LLC lifted its holdings in Activision Blizzard by 11.7% during the 1st quarter. LPL Financial LLC now owns 93,773 shares of the company’s stock valued at $6,326,000 after buying an additional 9,810 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Activision Blizzard by 1.6% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 84,452 shares of the company’s stock valued at $5,694,000 after buying an additional 1,352 shares in the last quarter. Finally, ETF Managers Group LLC lifted its holdings in Activision Blizzard by 62.9% during the 1st quarter. ETF Managers Group LLC now owns 42,155 shares of the company’s stock valued at $2,744,000 after buying an additional 16,275 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:ATVI opened at $78.25 on Thursday. 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 stock has a market capitalization of $57.09 billion, a PE ratio of 38.17, a price-to-earnings-growth ratio of 1.95 and a beta of 1.20. Activision Blizzard, Inc. has a one year low of $55.86 and a one year high of $79.63.
Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Thursday, May 3rd. The company reported $0.34 EPS 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 analyst estimates of $1.32 billion. Activision Blizzard had a net margin of 4.78% and a return on equity of 17.91%. Activision Blizzard’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 EPS. research analysts forecast that Activision Blizzard, Inc. will post 2.5 earnings per share for the current year.
A number of equities research analysts recently weighed in on the stock. BidaskClub upgraded shares of Activision Blizzard from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Bank of America decreased their price objective on shares of Activision Blizzard from $77.00 to $76.00 and set a “buy” rating for the company in a report on Friday, May 4th. Wedbush set a $81.00 price objective on shares of Activision Blizzard and gave the company a “buy” rating in a report on Sunday, May 6th. Credit Suisse Group lifted their price objective on shares of Activision Blizzard from $84.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, May 4th. Finally, TheStreet upgraded shares of Activision Blizzard from a “c+” rating to a “b” rating in a report on Thursday, May 3rd. Seven investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $75.41.
In related news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $70.49, for a total transaction 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 approximately $1,928,676.89. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.29% of the company’s stock.
Activision Blizzard 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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