IndexIQ Advisors LLC Raises Stock Position in Activision Blizzard, Inc. (NASDAQ:ATVI)

IndexIQ Advisors LLC increased its stake in Activision Blizzard, Inc. (NASDAQ:ATVI) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 43,981 shares of the company’s stock after acquiring an additional 221 shares during the quarter. IndexIQ Advisors LLC’s holdings in Activision Blizzard were worth $3,404,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Berman Capital Advisors LLC boosted its stake in Activision Blizzard by 5.1% during the 2nd quarter. Berman Capital Advisors LLC now owns 2,460 shares of the company’s stock worth $234,000 after purchasing an additional 120 shares during the last quarter. Arkadios Wealth Advisors boosted its stake in Activision Blizzard by 5.7% during the 3rd quarter. Arkadios Wealth Advisors now owns 2,402 shares of the company’s stock worth $185,000 after purchasing an additional 130 shares during the last quarter. First City Capital Management Inc. boosted its stake in Activision Blizzard by 3.8% during the 2nd quarter. First City Capital Management Inc. now owns 3,685 shares of the company’s stock worth $314,000 after purchasing an additional 134 shares during the last quarter. Rehmann Capital Advisory Group boosted its stake in Activision Blizzard by 2.1% during the 2nd quarter. Rehmann Capital Advisory Group now owns 6,761 shares of the company’s stock worth $647,000 after purchasing an additional 141 shares during the last quarter. Finally, Freedman Financial Associates Inc. boosted its stake in Activision Blizzard by 42.9% during the 3rd quarter. Freedman Financial Associates Inc. now owns 500 shares of the company’s stock worth $39,000 after purchasing an additional 150 shares during the last quarter. 84.12% of the stock is currently owned by institutional investors.

NASDAQ:ATVI traded down $0.90 on Friday, reaching $63.27. 130,880 shares of the company’s stock were exchanged, compared to its average volume of 11,741,490. The company has a quick ratio of 5.56, a current ratio of 5.56 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $49.28 billion, a price-to-earnings ratio of 18.99, a price-to-earnings-growth ratio of 1.14 and a beta of 0.71. The business has a fifty day moving average of $63.27 and a 200-day moving average of $75.67. Activision Blizzard, Inc. has a 52-week low of $56.40 and a 52-week high of $104.53.

Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings results on Tuesday, November 2nd. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.02. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.88 billion. Activision Blizzard had a net margin of 29.18% and a return on equity of 16.39%. During the same period in the prior year, the firm earned $0.66 earnings per share. As a group, equities analysts anticipate that Activision Blizzard, Inc. will post 3.49 earnings per share for the current year.

Several brokerages have issued reports on ATVI. MKM Partners cut shares of Activision Blizzard from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $75.00 to $54.00 in a research note on Monday, November 22nd. Benchmark lowered their price target on shares of Activision Blizzard from $115.00 to $86.00 and set a “hold” rating on the stock in a research report on Wednesday, November 17th. Stifel Nicolaus lowered their price target on shares of Activision Blizzard from $95.00 to $77.00 and set a “buy” rating on the stock in a research report on Monday, December 20th. Raymond James lowered their price target on shares of Activision Blizzard from $110.00 to $90.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 3rd. Finally, Robert W. Baird lowered their price target on shares of Activision Blizzard from $82.00 to $74.00 and set an “outperform” rating on the stock in a research report on Thursday, November 18th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $95.17.

About Activision Blizzard

Activision Blizzard, Inc engages in the development and publication of interactive entertainment. It operates through the following segments: Activision Publishing, Blizzard Entertainment and King Digital Entertainment. The Activision Publishing segment develops and publishes interactive software products and entertainment content, particularly for the console platform.

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

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