Mackenzie Financial Corp decreased its position in shares of Activision Blizzard, Inc. (NASDAQ:ATVI – Free Report) by 17.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 145,741 shares of the company’s stock after selling 31,873 shares during the period. Mackenzie Financial Corp’s holdings in Activision Blizzard were worth $12,474,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in ATVI. Osborne Partners Capital Management LLC increased its holdings in shares of Activision Blizzard by 0.3% in the first quarter. Osborne Partners Capital Management LLC now owns 70,795 shares of the company’s stock worth $6,059,000 after buying an additional 188 shares during the period. Beaumont Asset Management L.L.C. purchased a new position in shares of Activision Blizzard in the first quarter worth about $568,000. DekaBank Deutsche Girozentrale increased its holdings in shares of Activision Blizzard by 8.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 702,294 shares of the company’s stock worth $59,568,000 after buying an additional 55,235 shares during the period. Rockland Trust Co. grew its stake in shares of Activision Blizzard by 4.8% in the first quarter. Rockland Trust Co. now owns 3,404 shares of the company’s stock worth $291,000 after purchasing an additional 156 shares during the last quarter. Finally, Strategic Wealth Partners Ltd. grew its stake in shares of Activision Blizzard by 6.2% in the first quarter. Strategic Wealth Partners Ltd. now owns 52,019 shares of the company’s stock worth $4,452,000 after purchasing an additional 3,051 shares during the last quarter. Hedge funds and other institutional investors own 80.86% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on ATVI shares. Moffett Nathanson cut Activision Blizzard from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $91.00 to $95.00 in a research note on Wednesday. StockNews.com started coverage on Activision Blizzard in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft raised their target price on Activision Blizzard from $89.00 to $95.00 in a research note on Wednesday. Robert W. Baird cut their target price on Activision Blizzard from $95.00 to $90.00 in a research note on Thursday, April 27th. Finally, BNP Paribas raised Activision Blizzard from a “neutral” rating to an “outperform” rating in a research report on Friday, April 28th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Activision Blizzard has an average rating of “Moderate Buy” and a consensus target price of $92.33.
Activision Blizzard Price Performance
Shares of NASDAQ ATVI opened at $90.00 on Thursday. Activision Blizzard, Inc. has a twelve month low of $70.94 and a twelve month high of $92.91. The firm has a market cap of $70.59 billion, a P/E ratio of 38.30, a PEG ratio of 2.45 and a beta of 0.42. The company has a 50 day moving average of $80.56 and a 200 day moving average of $79.50. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 0.18.
Activision Blizzard (NASDAQ:ATVI – Get Free Report) last announced its quarterly earnings data on Wednesday, April 26th. The company reported $0.47 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.47. Activision Blizzard had a net margin of 22.82% and a return on equity of 12.97%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.83 billion. As a group, research analysts expect that Activision Blizzard, Inc. will post 3.55 EPS for the current fiscal year.
Insider Buying and Selling
In other news, Director Peter J. Nolan purchased 13,160 shares of the stock in a transaction dated Wednesday, May 3rd. The shares were purchased at an average cost of $75.99 per share, with a total value of $1,000,028.40. Following the acquisition, the director now directly owns 174,777 shares of the company’s stock, valued at $13,281,304.23. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.08% of the stock is owned by company insiders.
About Activision Blizzard
Activision Blizzard, Inc, together with its subsidiaries, develops and publishes interactive entertainment content and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Activision, Blizzard, and King. It develops and distributes content and services on video game consoles, personal computers, and mobile devices, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies that distribute Activision and Blizzard products.
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