South Texas Money Management Ltd. Invests $19.47 Million in Activision Blizzard, Inc. (ATVI) Stock
South Texas Money Management Ltd. purchased a new position in Activision Blizzard, Inc. (NASDAQ:ATVI) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 255,059 shares of the company’s stock, valued at approximately $19,466,000.
A number of other institutional investors have also recently modified their holdings of ATVI. Gateway Investment Advisers LLC acquired a new stake in Activision Blizzard during the second quarter worth approximately $37,904,000. Norris Perne & French LLP MI raised its holdings in Activision Blizzard by 38.4% during the second quarter. Norris Perne & French LLP MI now owns 133,818 shares of the company’s stock worth $10,213,000 after purchasing an additional 37,134 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Activision Blizzard by 16.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,524 shares of the company’s stock worth $345,000 after purchasing an additional 634 shares in the last quarter. Cookson Peirce & Co. Inc. raised its holdings in Activision Blizzard by 5.8% during the second quarter. Cookson Peirce & Co. Inc. now owns 19,103 shares of the company’s stock worth $1,458,000 after purchasing an additional 1,040 shares in the last quarter. Finally, Security National Bank raised its holdings in Activision Blizzard by 9.3% during the second quarter. Security National Bank now owns 46,384 shares of the company’s stock worth $3,540,000 after purchasing an additional 3,966 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.
ATVI has been the topic of a number of research analyst reports. Morgan Stanley raised their price objective on shares of Activision Blizzard from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, July 11th. BidaskClub cut shares of Activision Blizzard from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 25th. Wedbush set a $81.00 price objective on shares of Activision Blizzard and gave the stock a “buy” rating in a report on Sunday, May 6th. TheStreet raised shares of Activision Blizzard from a “c+” rating to a “b” rating in a report on Thursday, May 3rd. Finally, JPMorgan Chase & Co. initiated coverage on shares of Activision Blizzard in a report on Tuesday, May 1st. They set a “neutral” rating and a $70.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $78.51.
Activision Blizzard (NASDAQ:ATVI) last announced its earnings results on Thursday, August 2nd. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.11. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Activision Blizzard had a net margin of 6.96% and a return on equity of 18.00%. The company’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 EPS. equities research analysts expect that Activision Blizzard, Inc. will post 2.49 EPS for the current fiscal year.
Activision Blizzard Company Profile
Activision Blizzard, Inc develops and distributes content and services on video game consoles, personal computers (PC), and mobile devices. The company operates through three segments: Activision Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment. The company develops, publishes, and sells interactive software products and entertainment content for the console and PC platforms through retail and digital channels, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies; and offers downloadable content.
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