Connor Clark & Lunn Investment Management Ltd. Increases Holdings in Activision Blizzard, Inc. (NASDAQ:ATVI)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Activision Blizzard, Inc. (NASDAQ:ATVI – Get Rating) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,372 shares of the company’s stock after buying an additional 1,594 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Activision Blizzard were worth $7,607,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ATVI. Flossbach Von Storch AG boosted its stake in shares of Activision Blizzard by 85.6% during the fourth quarter. Flossbach Von Storch AG now owns 11,427,722 shares of the company’s stock valued at $874,792,000 after purchasing an additional 5,270,426 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Activision Blizzard during the first quarter valued at approximately $281,635,000. Assenagon Asset Management S.A. lifted its position in Activision Blizzard by 898.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,521,277 shares of the company’s stock valued at $269,554,000 after acquiring an additional 3,168,462 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in Activision Blizzard by 81.1% during the third quarter. UBS Asset Management Americas Inc. now owns 6,493,127 shares of the company’s stock valued at $482,699,000 after acquiring an additional 2,906,994 shares during the last quarter. Finally, Bank of Nova Scotia lifted its position in Activision Blizzard by 11,479.0% during the fourth quarter. Bank of Nova Scotia now owns 1,965,774 shares of the company’s stock valued at $150,480,000 after acquiring an additional 1,948,797 shares during the last quarter. 79.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ATVI has been the subject of a number of analyst reports. BNP Paribas raised shares of Activision Blizzard from a “neutral” rating to an “outperform” rating in a research report on Friday, April 28th. Citigroup raised their price target on shares of Activision Blizzard from $88.00 to $91.00 and gave the stock a “buy” rating in a report on Sunday, March 26th. Benchmark reiterated a “buy” rating and issued a $90.00 price objective on shares of Activision Blizzard in a research note on Friday, March 10th. Stifel Nicolaus dropped their price target on shares of Activision Blizzard from $95.00 to $88.00 in a research report on Tuesday, May 2nd. Finally, BMO Capital Markets raised their price target on shares of Activision Blizzard from $95.00 to $100.00 in a research report on Thursday, April 27th. Sixteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $91.53.

Insider Transactions at Activision Blizzard

In other Activision Blizzard news, Director Peter J. Nolan purchased 13,160 shares of the firm’s 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 completion of the purchase, the director now owns 174,777 shares in the company, valued at approximately $13,281,304.23. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Activision Blizzard news, COO Daniel Alegre sold 8,847 shares of Activision Blizzard stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $78.50, for a total transaction of $694,489.50. Following the transaction, the chief operating officer now directly owns 156,170 shares of the company’s stock, valued at $12,259,345. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter J. Nolan bought 13,160 shares of Activision Blizzard stock in a transaction on Wednesday, May 3rd. The shares were purchased at an average cost of $75.99 per share, for a total transaction of $1,000,028.40. Following the completion of the purchase, the director now directly owns 174,777 shares of the company’s stock, valued at $13,281,304.23. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

Activision Blizzard Stock Performance

NASDAQ:ATVI opened at $77.14 on Friday. The company’s 50-day moving average price is $81.09 and its 200-day moving average price is $77.79. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 0.18. The company has a market cap of $60.50 billion, a P/E ratio of 32.83, a P/E/G ratio of 2.33 and a beta of 0.42. Activision Blizzard, Inc. has a twelve month low of $70.94 and a twelve month high of $87.01.

Activision Blizzard Company Profile

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Activision Blizzard, Inc engages in the development and publication of entertainment content and services. It operates through the following segments: Activision Publishing Inc, Blizzard Entertainment Inc, and King Digital Entertainment. The Activision Publishing Inc segment delivers content through both premium and free-to-play offerings, as well as by licensing software to third-party or related-party companies that distribute Activision products.