Traders Sell Activision Blizzard (ATVI) on Strength (ATVI)
Investors sold shares of Activision Blizzard, Inc. (NASDAQ:ATVI) on strength during trading on Friday. $53.78 million flowed into the stock on the tick-up and $80.58 million flowed out of the stock on the tick-down, for a money net flow of $26.80 million out of the stock. Of all companies tracked, Activision Blizzard had the 0th highest net out-flow for the day. Activision Blizzard traded up $0.11 for the day and closed at $70.61
ATVI has been the topic of several analyst reports. Needham & Company LLC upped their price target on shares of Activision Blizzard from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. Morgan Stanley upped their price target on shares of Activision Blizzard from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, July 11th. Piper Jaffray Companies upped their price target on shares of Activision Blizzard to $84.00 and gave the company an “overweight” rating in a report on Wednesday, July 25th. 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 target on the stock. Finally, BidaskClub downgraded shares of Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $78.51.
The stock has a market capitalization of $53.75 billion, a price-to-earnings ratio of 34.44, a P/E/G ratio of 1.86 and a beta of 0.97. The company has a current ratio of 2.98, a quick ratio of 2.96 and a debt-to-equity ratio of 0.42.
In other news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $70.49, for a total value of $1,392,952.89. Following the completion of the sale, the chief executive officer now owns 27,361 shares of the company’s stock, valued at approximately $1,928,676.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.29% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Global X Management Co. LLC lifted its position in Activision Blizzard by 18.5% during the first quarter. Global X Management Co. LLC now owns 7,959 shares of the company’s stock valued at $537,000 after acquiring an additional 1,242 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Activision Blizzard by 49.9% in the first quarter. Daiwa Securities Group Inc. now owns 84,200 shares of the company’s stock worth $5,680,000 after buying an additional 28,035 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its holdings in shares of Activision Blizzard by 53.6% in the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 55,524 shares of the company’s stock worth $3,647,000 after buying an additional 19,370 shares during the last quarter. Morse Asset Management Inc raised its holdings in shares of Activision Blizzard by 90.1% in the first quarter. Morse Asset Management Inc now owns 43,255 shares of the company’s stock worth $2,918,000 after buying an additional 20,505 shares during the last quarter. Finally, Miracle Mile Advisors LLC purchased a new position in shares of Activision Blizzard in the first quarter worth $5,110,000. 85.94% of the stock is owned by hedge funds and other institutional investors.
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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