Victory Capital Management Inc. Lowers Stake in Activision Blizzard, Inc. (NASDAQ:ATVI)

Victory Capital Management Inc. reduced its holdings in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 48.8% in the second quarter, HoldingsChannel reports. The fund owned 53,055 shares of the company’s stock after selling 50,523 shares during the period. Victory Capital Management Inc.’s holdings in Activision Blizzard were worth $2,504,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Trexquant Investment LP purchased a new position in Activision Blizzard during the 1st quarter valued at about $1,477,000. Corient Capital Partners LLC lifted its position in Activision Blizzard by 39.8% during the 2nd quarter. Corient Capital Partners LLC now owns 7,517 shares of the company’s stock valued at $354,000 after acquiring an additional 2,141 shares during the period. Arizona State Retirement System lifted its position in Activision Blizzard by 61.5% during the 2nd quarter. Arizona State Retirement System now owns 236,887 shares of the company’s stock valued at $11,181,000 after acquiring an additional 90,217 shares during the period. CWM LLC lifted its position in Activision Blizzard by 1.1% during the 2nd quarter. CWM LLC now owns 58,576 shares of the company’s stock valued at $2,765,000 after acquiring an additional 661 shares during the period. Finally, Invesco Ltd. lifted its position in Activision Blizzard by 7.1% during the 2nd quarter. Invesco Ltd. now owns 19,334,866 shares of the company’s stock valued at $912,605,000 after acquiring an additional 1,289,300 shares during the period. 86.97% of the stock is owned by institutional investors.

ATVI opened at $54.74 on Friday. The company has a quick ratio of 3.43, a current ratio of 3.46 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average price of $51.90 and a 200-day moving average price of $47.74. Activision Blizzard, Inc. has a twelve month low of $39.85 and a twelve month high of $82.68. The stock has a market capitalization of $40.58 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 2.05 and a beta of 0.85.

Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.14. Activision Blizzard had a net margin of 23.69% and a return on equity of 15.54%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the company earned $0.41 earnings per share. The firm’s quarterly revenue was down 12.9% on a year-over-year basis. As a group, analysts expect that Activision Blizzard, Inc. will post 2 earnings per share for the current year.

ATVI has been the subject of a number of recent research reports. SunTrust Banks lifted their price target on shares of Activision Blizzard from $52.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, August 12th. MKM Partners reissued a “neutral” rating and set a $47.00 price target (up from $45.00) on shares of Activision Blizzard in a research report on Friday, August 9th. BMO Capital Markets raised shares of Activision Blizzard from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $43.00 to $60.00 in a report on Wednesday, September 4th. Ascendiant Capital Markets reaffirmed a “buy” rating and issued a $55.00 target price (up from $53.00) on shares of Activision Blizzard in a report on Wednesday, August 14th. Finally, Stephens raised shares of Activision Blizzard from an “equal” rating to a “weight” rating and lifted their target price for the stock from $52.00 to $65.00 in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-five have issued a buy rating to the stock. Activision Blizzard currently has a consensus rating of “Buy” and a consensus target price of $60.67.

In related news, insider Brian M. Stolz sold 134,845 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $47.80, for a total transaction of $6,445,591.00. Following the completion of the sale, the insider now directly owns 58,563 shares in the company, valued at $2,799,311.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher B. Walther sold 5,333 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $50.83, for a total transaction of $271,076.39. The disclosure for this sale can be found here. Insiders have sold 150,844 shares of company stock valued at $7,266,020 over the last three months. 1.29% of the stock is owned by corporate insiders.

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

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