Wright Investors Service Inc. trimmed its position in Activision Blizzard, Inc (NASDAQ:ATVI) by 5.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,830 shares of the company’s stock after selling 3,570 shares during the quarter. Activision Blizzard makes up approximately 1.5% of Wright Investors Service Inc.’s holdings, making the stock its 15th largest position. Wright Investors Service Inc.’s holdings in Activision Blizzard were worth $3,989,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Advisors Inc. increased its holdings in shares of Activision Blizzard by 321.5% in the 3rd quarter. Cornerstone Advisors Inc. now owns 1,547 shares of the company’s stock valued at $100,000 after acquiring an additional 1,180 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new stake in shares of Activision Blizzard in the 2nd quarter valued at approximately $142,000. Huntington National Bank increased its holdings in shares of Activision Blizzard by 122.6% in the 2nd quarter. Huntington National Bank now owns 2,480 shares of the company’s stock valued at $143,000 after acquiring an additional 1,366 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Activision Blizzard by 16.2% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,606 shares of the company’s stock valued at $150,000 after acquiring an additional 363 shares during the last quarter. Finally, Phocas Financial Corp. bought a new stake in shares of Activision Blizzard in the 2nd quarter valued at approximately $173,000. Institutional investors and hedge funds own 86.27% of the company’s stock.
Shares of Activision Blizzard, Inc (ATVI) traded down 1.02% during mid-day trading on Wednesday, hitting $64.82. The stock had a trading volume of 2,309,144 shares. The firm’s 50-day moving average price is $63.15 and its 200 day moving average price is $60.02. Activision Blizzard, Inc has a 12-month low of $35.12 and a 12-month high of $66.58. The stock has a market cap of $48.93 billion, a price-to-earnings ratio of 43.77 and a beta of 1.10.
In other news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $61.32, for a total transaction of $1,211,744.52. Following the completion of the transaction, the chief executive officer now directly owns 48,472 shares in the company, valued at $2,972,303.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dennis M. Durkin sold 160,000 shares of the company’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $60.68, for a total transaction of $9,708,800.00. Following the transaction, the insider now owns 337,534 shares of the company’s stock, valued at $20,481,563.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,074,879 shares of company stock valued at $252,196,001. Company insiders own 2.12% of the company’s stock.
ATVI has been the subject of a number of research analyst reports. Stifel Nicolaus reiterated a “buy” rating on shares of Activision Blizzard in a report on Sunday, September 10th. Wedbush set a $75.00 price target on Activision Blizzard and gave the company a “buy” rating in a report on Thursday, October 26th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $69.00 price target on shares of Activision Blizzard in a report on Friday, September 8th. Vetr upgraded Activision Blizzard from a “hold” rating to a “buy” rating and set a $64.58 price target for the company in a report on Tuesday, October 10th. Finally, Cowen and Company downgraded Activision Blizzard from an “outperform” rating to a “market perform” rating and set a $66.00 price target for the company. in a report on Monday, October 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $67.91.
About Activision Blizzard
Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. The Company develops and distributes content and services across various gaming platforms, including video game consoles, personal computers (PC) and mobile devices. Its segments include Activision Publishing, Inc (Activision), Blizzard Entertainment, Inc (Blizzard), King Digital Entertainment (King) and Other.
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