Tokio Marine Asset Management Co. Ltd. boosted its position in Activision Blizzard Inc. (NASDAQ:ATVI) by 5.8% during the second quarter, Holdings Channel reports. The firm owned 19,173 shares of the company’s stock after buying an additional 1,050 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Activision Blizzard were worth $760,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in ATVI. FDO Partners LLC bought a new position in Activision Blizzard during the first quarter worth $216,000. Palladium Partners LLC bought a new position in Activision Blizzard during the second quarter worth $220,000. NEXT Financial Group Inc increased its position in Activision Blizzard by 16.3% in the second quarter. NEXT Financial Group Inc now owns 6,071 shares of the company’s stock worth $240,000 after buying an additional 850 shares in the last quarter. Fisher Asset Management LLC bought a new position in Activision Blizzard during the second quarter worth $244,000. Finally, Balasa Dinverno & Foltz LLC bought a new position in Activision Blizzard during the second quarter worth $251,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.
Activision Blizzard Inc. (NASDAQ:ATVI) traded down 1.21% during mid-day trading on Thursday, hitting $43.99. 6,222,544 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $42.97 and a 200 day moving average of $39.08. Activision Blizzard Inc. has a 52 week low of $26.49 and a 52 week high of $45.12. The stock has a market capitalization of $32.62 billion, a P/E ratio of 44.30 and a beta of 1.09.
Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. Activision Blizzard had a net margin of 13.95% and a return on equity of 14.49%. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the firm earned $0.13 EPS. The company’s revenue was up 112.0% on a year-over-year basis. Equities analysts forecast that Activision Blizzard Inc. will post $1.99 earnings per share for the current fiscal year.
A number of brokerages have recently commented on ATVI. Pacific Crest reissued a “buy” rating on shares of Activision Blizzard in a research note on Sunday, June 26th. Vetr raised shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $40.84 target price on the stock in a research note on Monday, June 13th. Barclays PLC reissued a “buy” rating on shares of Activision Blizzard in a research note on Saturday, June 18th. Cowen and Company reissued an “outperform” rating and issued a $45.00 target price on shares of Activision Blizzard in a research note on Tuesday, August 23rd. Finally, Jefferies Group raised their target price on shares of Activision Blizzard from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Three analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $44.79.
In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $40.65, for a total transaction of $803,284.65. Following the sale, the chief executive officer now owns 97,177 shares of the company’s stock, valued at approximately $3,950,245.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Thomas Tippl sold 75,000 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $43.76, for a total transaction of $3,282,000.00. The disclosure for this sale can be found here. Company insiders own 25.23% of the company’s stock.
About Activision Blizzard
Activision Blizzard, Inc is a developer and publisher of online, personal computer (PC), video game console, handheld, mobile and tablet games. The Company operates through Activision Publishing, Inc (Activision) and its subsidiaries, Blizzard Entertainment, Inc (Blizzard) and its subsidiaries, and Other segments.