Miracle Mile Advisors LLC grew its position in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 53.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,350 shares of the company’s stock after acquiring an additional 40,600 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Activision Blizzard were worth $5,297,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northern Trust Corp grew its holdings in Activision Blizzard by 1.5% during the fourth quarter. Northern Trust Corp now owns 9,247,358 shares of the company’s stock worth $430,649,000 after buying an additional 136,585 shares in the last quarter. Geode Capital Management LLC grew its holdings in Activision Blizzard by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 9,116,102 shares of the company’s stock worth $423,741,000 after buying an additional 626,387 shares in the last quarter. Coatue Management LLC grew its holdings in Activision Blizzard by 2.8% during the fourth quarter. Coatue Management LLC now owns 9,010,449 shares of the company’s stock worth $419,616,000 after buying an additional 245,074 shares in the last quarter. Norges Bank bought a new stake in Activision Blizzard during the fourth quarter worth $347,929,000. Finally, Swedbank grew its holdings in Activision Blizzard by 21.5% during the first quarter. Swedbank now owns 6,007,179 shares of the company’s stock worth $273,507,000 after buying an additional 1,063,547 shares in the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.
In other news, Director Robert J. Morgado sold 15,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $42.91, for a total transaction of $643,650.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.29% of the stock is owned by corporate insiders.
Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.13. Activision Blizzard had a return on equity of 16.19% and a net margin of 23.90%. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The business’s revenue for the quarter was down 8.7% compared to the same quarter last year. As a group, research analysts expect that Activision Blizzard, Inc. will post 2 EPS for the current fiscal year.
Several brokerages recently issued reports on ATVI. Credit Suisse Group decreased their price target on Activision Blizzard from $70.00 to $64.00 and set an “outperform” rating for the company in a report on Wednesday, February 13th. Wedbush reiterated an “outperform” rating and set a $56.00 price target (down previously from $64.00) on shares of Activision Blizzard in a report on Wednesday, February 13th. Bank of America reiterated a “neutral” rating and set a $54.00 price target (down previously from $58.00) on shares of Activision Blizzard in a report on Wednesday, February 13th. Stifel Nicolaus decreased their price target on Activision Blizzard from $67.00 to $57.00 and set a “buy” rating for the company in a report on Monday, January 28th. Finally, Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective (down previously from $60.00) on shares of Activision Blizzard in a research note on Wednesday, February 13th. Eleven equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $61.89.
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.
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