Activision Blizzard, Inc (ATVI) Holdings Cut by CCM Investment Advisers LLC
CCM Investment Advisers LLC lowered its holdings in shares of Activision Blizzard, Inc (NASDAQ:ATVI) by 6.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 160,671 shares of the company’s stock after selling 10,604 shares during the quarter. Activision Blizzard makes up 2.0% of CCM Investment Advisers LLC’s holdings, making the stock its 17th largest position. CCM Investment Advisers LLC’s holdings in Activision Blizzard were worth $10,364,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of ATVI. Janus Henderson Group PLC boosted its position in Activision Blizzard by 820.8% during the second quarter. Janus Henderson Group PLC now owns 20,298,735 shares of the company’s stock worth $1,168,587,000 after purchasing an additional 18,094,334 shares in the last quarter. Jennison Associates LLC boosted its position in Activision Blizzard by 82.6% during the second quarter. Jennison Associates LLC now owns 22,287,591 shares of the company’s stock worth $1,283,097,000 after purchasing an additional 10,083,717 shares in the last quarter. Capital World Investors boosted its position in Activision Blizzard by 23.8% during the second quarter. Capital World Investors now owns 22,538,000 shares of the company’s stock worth $1,297,513,000 after purchasing an additional 4,327,000 shares in the last quarter. Vanguard Group Inc. boosted its position in Activision Blizzard by 4.8% during the second quarter. Vanguard Group Inc. now owns 48,396,938 shares of the company’s stock worth $2,786,211,000 after purchasing an additional 2,200,995 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in Activision Blizzard by 149.8% during the second quarter. Alliancebernstein L.P. now owns 2,678,328 shares of the company’s stock worth $154,191,000 after purchasing an additional 1,606,036 shares in the last quarter. Institutional investors own 86.32% of the company’s stock.
A number of equities analysts have issued reports on the company. Morgan Stanley increased their price target on Activision Blizzard from $70.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday. Barclays PLC assumed coverage on Activision Blizzard in a report on Wednesday, October 4th. They set an “equal weight” rating and a $65.00 target price for the company. Vetr raised Activision Blizzard from a “hold” rating to a “buy” rating and set a $64.25 target price for the company in a report on Wednesday, September 27th. Wedbush increased their target price on Activision Blizzard to $3.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Finally, Credit Suisse Group reissued an “outperform” rating and set a $67.00 target price (up previously from $62.00) on shares of Activision Blizzard in a report on Monday, July 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $68.71.
Activision Blizzard, Inc (NASDAQ ATVI) traded down $2.33 on Tuesday, hitting $60.87. The stock had a trading volume of 12,925,543 shares, compared to its average volume of 6,100,000. Activision Blizzard, Inc has a 1-year low of $35.12 and a 1-year high of $67.03. The stock has a market capitalization of $45,550.00, a price-to-earnings ratio of 28.73, a P/E/G ratio of 2.33 and a beta of 1.06. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.22 and a current ratio of 2.25.
In other news, Director Brian G. Kelly sold 3,685,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $61.93, for a total transaction of $228,212,050.00. Following the completion of the transaction, the director now directly owns 189,791 shares in the company, valued at $11,753,756.63. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Riccardo Zacconi sold 19,761 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $61.32, for a total value of $1,211,744.52. Following the transaction, the chief executive officer now owns 48,472 shares of the company’s stock, valued at $2,972,303.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,864,761 shares of company stock valued at $239,132,595. Company insiders own 2.12% of the company’s stock.
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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