Keebeck Alpha LP Acquires New Position in Activision Blizzard, Inc. (NASDAQ:ATVI)

Keebeck Alpha LP purchased a new position in shares of Activision Blizzard, Inc. (NASDAQ:ATVIGet Rating) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 11,636 shares of the company’s stock, valued at approximately $932,000.

Other institutional investors also recently bought and sold shares of the company. Sandy Cove Advisors LLC acquired a new stake in shares of Activision Blizzard during the 4th quarter worth approximately $45,000. Modera Wealth Management LLC acquired a new stake in shares of Activision Blizzard during the 4th quarter worth approximately $319,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Activision Blizzard by 6.4% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 405,877 shares of the company’s stock worth $27,364,000 after purchasing an additional 24,389 shares during the period. West Family Investments Inc. grew its stake in shares of Activision Blizzard by 106.8% during the 4th quarter. West Family Investments Inc. now owns 6,363 shares of the company’s stock worth $423,000 after purchasing an additional 3,286 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in Activision Blizzard by 612.1% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 8,681 shares of the company’s stock valued at $578,000 after acquiring an additional 7,462 shares during the period. 83.11% of the stock is owned by hedge funds and other institutional investors.

Activision Blizzard Stock Up 0.2 %

Shares of ATVI opened at $80.92 on Wednesday. The company has a current ratio of 6.18, a quick ratio of 6.18 and a debt-to-equity ratio of 0.20. The firm has a market cap of $63.30 billion, a P/E ratio of 33.72, a price-to-earnings-growth ratio of 3.51 and a beta of 0.51. The company’s 50-day moving average price is $78.20 and its 200 day moving average price is $78.90. Activision Blizzard, Inc. has a 12-month low of $56.40 and a 12-month high of $86.90.

Activision Blizzard (NASDAQ:ATVIGet Rating) last issued its quarterly earnings results on Monday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.09. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.57 billion. Activision Blizzard had a net margin of 24.57% and a return on equity of 10.22%. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 earnings per share. On average, sell-side analysts forecast that Activision Blizzard, Inc. will post 2.42 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Armin Zerza sold 10,174 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $80.22, for a total transaction of $816,158.28. Following the completion of the transaction, the chief financial officer now directly owns 186,117 shares of the company’s stock, valued at $14,930,305.74. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $95.00 price target on shares of Activision Blizzard in a research note on Wednesday, April 27th. Moffett Nathanson raised shares of Activision Blizzard from a “neutral” rating to a “buy” rating and set a $95.00 price target on the stock in a research note on Wednesday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Activision Blizzard from $95.00 to $84.00 in a research note on Thursday, August 4th. Seventeen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Activision Blizzard currently has an average rating of “Hold” and an average price target of $94.30.

About Activision Blizzard

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Activision Blizzard, Inc, together with its subsidiaries, develops and publishes interactive entertainment content and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Activision, Blizzard, and King. It develops and distributes content and services on video game consoles, personal computers, and mobile devices, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies that distribute Activision and Blizzard products.

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Institutional Ownership by Quarter for Activision Blizzard (NASDAQ:ATVI)

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