Chartwell Investment Partners LLC Trims Stock Position in Activision Blizzard, Inc. (NASDAQ:ATVI)

Chartwell Investment Partners LLC lowered its position in Activision Blizzard, Inc. (NASDAQ:ATVI) by 10.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,615 shares of the company’s stock after selling 8,575 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Activision Blizzard were worth $5,436,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. AlphaCore Capital LLC acquired a new position in Activision Blizzard during the 1st quarter worth approximately $27,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Activision Blizzard in the first quarter valued at $27,000. Howe & Rusling Inc. increased its position in shares of Activision Blizzard by 506.9% in the 2nd quarter. Howe & Rusling Inc. now owns 352 shares of the company’s stock worth $27,000 after purchasing an additional 294 shares during the last quarter. Cerebellum GP LLC acquired a new position in Activision Blizzard in the second quarter worth about $28,000. Finally, Rational Advisors LLC raised its stake in Activision Blizzard by 48.6% during the first quarter. Rational Advisors LLC now owns 550 shares of the company’s stock valued at $33,000 after buying an additional 180 shares in the last quarter. 86.73% of the stock is owned by hedge funds and other institutional investors.

ATVI opened at $82.63 on Friday. The business has a 50 day moving average price of $77.75 and a 200 day moving average price of $67.08. Activision Blizzard, Inc. has a twelve month low of $44.91 and a twelve month high of $83.45. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.78 and a current ratio of 2.78. The firm has a market cap of $63.66 billion, a P/E ratio of 40.91, a price-to-earnings-growth ratio of 2.01 and a beta of 0.61.

Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.20. Activision Blizzard had a net margin of 24.21% and a return on equity of 14.57%. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the firm posted $0.58 earnings per share. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. As a group, analysts anticipate that Activision Blizzard, Inc. will post 2.54 earnings per share for the current fiscal year.

In other news, Director Brian G. Kelly sold 50,000 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $73.28, for a total value of $3,664,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Jesse Yang acquired 500 shares of the stock in a transaction dated Tuesday, May 19th. The stock was bought at an average price of $73.00 per share, for a total transaction of $36,500.00. Following the purchase, the chief accounting officer now owns 500 shares of the company’s stock, valued at approximately $36,500. 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 90 days. Corporate insiders own 1.29% of the company’s stock.

Several equities analysts recently issued reports on ATVI shares. Oppenheimer raised their price objective on Activision Blizzard from $73.00 to $75.00 and gave the stock an “outperformer” rating in a research note on Monday, June 8th. JPMorgan Chase & Co. lifted their price target on shares of Activision Blizzard from $68.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Stifel Nicolaus increased their price objective on shares of Activision Blizzard from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. SunTrust Banks lifted their target price on Activision Blizzard to $87.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Finally, Needham & Company LLC upped their target price on Activision Blizzard from $75.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $78.47.

Activision Blizzard 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.

Read More: Percentage Decliners

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

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