Regent Investment Management LLC boosted its holdings in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 6.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,109 shares of the company’s stock after acquiring an additional 400 shares during the quarter. Regent Investment Management LLC’s holdings in Activision Blizzard were worth $540,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Howe & Rusling Inc. raised its stake in shares of Activision Blizzard by 506.9% during the 2nd quarter. Howe & Rusling Inc. now owns 352 shares of the company’s stock worth $27,000 after purchasing an additional 294 shares in the last quarter. Cerebellum GP LLC purchased a new stake in shares of Activision Blizzard during the 2nd quarter worth about $28,000. AlphaCore Capital LLC purchased a new stake in shares of Activision Blizzard during the 1st quarter worth about $27,000. Modus Advisors LLC purchased a new stake in shares of Activision Blizzard during the 2nd quarter worth about $34,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Activision Blizzard during the 1st quarter worth about $27,000. Hedge funds and other institutional investors own 86.73% of the company’s stock.
In other news, insider Collister Johnson sold 24,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $72.31, for a total transaction of $1,735,440.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Jesse Yang acquired 400 shares of Activision Blizzard stock in a transaction dated Wednesday, May 27th. The shares were purchased at an average cost of $68.52 per share, with a total value of $27,408.00. Following the completion of the transaction, the chief accounting officer now directly owns 700 shares of the company’s stock, valued at $47,964. The disclosure for this purchase can be found here. Insiders have sold 324,000 shares of company stock valued at $23,504,440 over the last ninety days. 1.29% of the stock is owned by insiders.
Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.20. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Activision Blizzard had a return on equity of 14.57% and a net margin of 24.21%. Activision Blizzard’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.58 earnings per share. Sell-side analysts forecast that Activision Blizzard, Inc. will post 2.54 earnings per share for the current year.
A number of brokerages recently weighed in on ATVI. Nomura raised their price objective on Activision Blizzard from $70.00 to $80.00 in a research note on Wednesday, May 6th. Nomura Instinet lifted their price target on Activision Blizzard from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Credit Suisse Group lifted their price target on Activision Blizzard from $79.00 to $83.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. UBS Group lifted their price target on Activision Blizzard from $66.00 to $84.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Wedbush lifted their price objective on Activision Blizzard from $76.00 to $84.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $78.47.
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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