Cleararc Capital Inc. Boosts Stake in Activision Blizzard, Inc (ATVI)

Cleararc Capital Inc. raised its stake in Activision Blizzard, Inc (NASDAQ:ATVI) by 2.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,935 shares of the company’s stock after buying an additional 329 shares during the period. Cleararc Capital Inc.’s holdings in Activision Blizzard were worth $844,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of ATVI. Benjamin F. Edwards & Company Inc. increased its position in shares of Activision Blizzard by 504.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,023 shares of the company’s stock valued at $151,000 after buying an additional 2,523 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new position in shares of Activision Blizzard during the first quarter valued at about $202,000. Advisory Services Network LLC acquired a new position in shares of Activision Blizzard during the first quarter valued at about $214,000. Rehmann Capital Advisory Group acquired a new position in shares of Activision Blizzard during the first quarter valued at about $218,000. Finally, Mission Wealth Management LLC acquired a new position in shares of Activision Blizzard during the first quarter valued at about $221,000. 88.00% of the stock is currently owned by institutional investors.

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

Shares of Activision Blizzard, Inc (NASDAQ:ATVI) traded up 0.03% during trading on Tuesday, reaching $60.34. 2,672,408 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $57.07 and its 200 day moving average price is $47.08. The firm has a market capitalization of $45.48 billion, a PE ratio of 44.27 and a beta of 1.03. Activision Blizzard, Inc has a 52 week low of $35.12 and a 52 week high of $61.10.

Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings results on Thursday, May 4th. The company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.11. Activision Blizzard had a net margin of 14.63% and a return on equity of 16.90%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the company earned $0.23 EPS. Activision Blizzard’s revenue was up 31.7% on a year-over-year basis. Analysts predict that Activision Blizzard, Inc will post $2.00 EPS for the current fiscal year.

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Several research analysts have issued reports on the stock. Wedbush set a $63.00 price objective on shares of Activision Blizzard and gave the stock a “buy” rating in a research report on Saturday, May 6th. Vetr raised shares of Activision Blizzard from a “buy” rating to a “strong-buy” rating and set a $65.85 price objective on the stock in a research report on Thursday, June 15th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $68.00 target price on shares of Activision Blizzard in a report on Thursday, June 8th. William Blair began coverage on shares of Activision Blizzard in a report on Wednesday, March 1st. They issued an “outperform” rating and a $47.64 target price on the stock. Finally, Morgan Stanley lifted their target price on shares of Activision Blizzard from $57.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, June 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $55.90.

In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $55.45, for a total value of $1,095,747.45. Following the completion of the sale, the chief executive officer now directly owns 55,509 shares of the company’s stock, valued at approximately $3,077,974.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian G. Kelly sold 420,063 shares of the company’s stock in a transaction dated Tuesday, March 28th. The shares were sold at an average price of $49.90, for a total transaction of $20,961,143.70. The disclosure for this sale can be found here. 2.12% of the stock is currently owned by corporate insiders.

Activision Blizzard Company Profile

Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. The Company develops and distributes content and services across various gaming platforms, including video game consoles, personal computers (PC) and mobile devices. Its segments include Activision Publishing, Inc (Activision), Blizzard Entertainment, Inc (Blizzard), King Digital Entertainment (King) and Other.

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