Traders Sell Activision Blizzard (ATVI) on Strength (ATVI)
Traders sold shares of Activision Blizzard, Inc. (NASDAQ:ATVI) on strength during trading on Thursday. $122.24 million flowed into the stock on the tick-up and $154.04 million flowed out of the stock on the tick-down, for a money net flow of $31.80 million out of the stock. Of all equities tracked, Activision Blizzard had the 0th highest net out-flow for the day. Activision Blizzard traded up $0.27 for the day and closed at $73.85
ATVI has been the subject of a number of research reports. Zacks Investment Research upgraded Activision Blizzard from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research report on Wednesday, July 4th. BidaskClub cut Activision Blizzard from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Needham & Company LLC upped their price objective on Activision Blizzard from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Wedbush set a $81.00 price objective on Activision Blizzard and gave the company a “buy” rating in a research report on Thursday, July 26th. Finally, Argus restated a “buy” rating and issued a $90.00 price target (up previously from $81.00) on shares of Activision Blizzard in a research report on Friday, September 21st. Nine research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Activision Blizzard presently has a consensus rating of “Buy” and a consensus target price of $81.16.
The company has a debt-to-equity ratio of 0.42, a current ratio of 2.98 and a quick ratio of 2.96. The stock has a market capitalization of $63.42 billion, a P/E ratio of 36.02, a PEG ratio of 2.22 and a beta of 0.86.
In related news, CEO Riccardo Zacconi sold 19,761 shares of the stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $68.70, for a total transaction of $1,357,580.70. Following the completion of the sale, the chief executive officer now owns 20,324 shares in the company, valued at $1,396,258.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.29% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Standard Life Aberdeen plc grew its position in shares of Activision Blizzard by 2.7% during the second quarter. Standard Life Aberdeen plc now owns 1,666,892 shares of the company’s stock worth $127,226,000 after purchasing an additional 44,538 shares in the last quarter. Gladstone Capital Management LLP grew its position in shares of Activision Blizzard by 13.0% during the second quarter. Gladstone Capital Management LLP now owns 304,889 shares of the company’s stock worth $23,175,000 after purchasing an additional 35,000 shares in the last quarter. Gabelli Funds LLC grew its position in shares of Activision Blizzard by 62.4% during the second quarter. Gabelli Funds LLC now owns 284,200 shares of the company’s stock worth $21,690,000 after purchasing an additional 109,200 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in shares of Activision Blizzard during the second quarter worth about $1,196,000. Finally, Truepoint Inc. grew its position in shares of Activision Blizzard by 1,382.6% during the second quarter. Truepoint Inc. now owns 4,181 shares of the company’s stock worth $319,000 after purchasing an additional 3,899 shares in the last quarter. Hedge funds and other institutional investors own 87.05% of the company’s stock.
About Activision Blizzard (NASDAQ:ATVI)
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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