Front Barnett Associates LLC Decreases Position in Activision Blizzard, Inc. (ATVI)

Front Barnett Associates LLC reduced its stake in Activision Blizzard, Inc. (NASDAQ:ATVI) by 2.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 161,448 shares of the company’s stock after selling 4,403 shares during the period. Activision Blizzard accounts for about 1.7% of Front Barnett Associates LLC’s portfolio, making the stock its 23rd largest position. Front Barnett Associates LLC’s holdings in Activision Blizzard were worth $10,223,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Cornerstone Advisors Inc. increased its stake in Activision Blizzard by 321.5% in the 3rd quarter. Cornerstone Advisors Inc. now owns 1,547 shares of the company’s stock worth $100,000 after purchasing an additional 1,180 shares during the period. SeaCrest Wealth Management LLC purchased a new position in Activision Blizzard in the 4th quarter worth approximately $125,000. Goodman Financial Corp purchased a new position in Activision Blizzard in the 4th quarter worth approximately $127,000. Grove Bank & Trust increased its stake in Activision Blizzard by 261.7% in the 3rd quarter. Grove Bank & Trust now owns 2,170 shares of the company’s stock worth $140,000 after purchasing an additional 1,570 shares during the period. Finally, Phocas Financial Corp. purchased a new position in Activision Blizzard in the 2nd quarter worth approximately $173,000. 86.04% of the stock is currently owned by institutional investors and hedge funds.

Shares of Activision Blizzard, Inc. (ATVI) opened at $66.03 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.22 and a current ratio of 2.25. Activision Blizzard, Inc. has a 1 year low of $38.93 and a 1 year high of $74.94. The firm has a market capitalization of $49,770.00, a P/E ratio of 45.23, a P/E/G ratio of 1.91 and a beta of 1.11.

Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.02. Activision Blizzard had a return on equity of 17.56% and a net margin of 15.90%. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period in the previous year, the company posted $0.65 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. research analysts predict that Activision Blizzard, Inc. will post 2.13 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 9th. Shareholders of record on Friday, March 30th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.06%. This is an increase from Activision Blizzard’s previous quarterly dividend of $0.30. Activision Blizzard’s payout ratio is 20.55%.

In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $63.64, for a total value of $1,257,590.04. Following the sale, the chief executive officer now directly owns 41,435 shares of the company’s stock, valued at $2,636,923.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.12% of the company’s stock.

ATVI has been the topic of a number of analyst reports. Zacks Investment Research cut Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. BidaskClub cut Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. SunTrust Banks set a $77.00 price target on Activision Blizzard and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Vetr cut Activision Blizzard from a “hold” rating to a “sell” rating and set a $69.79 price target on the stock. in a research note on Monday, January 29th. Finally, Wedbush set a $75.00 price target on Activision Blizzard and gave the stock a “buy” rating in a research note on Thursday, October 26th. Six investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $71.15.

WARNING: This story was published by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this story on another publication, it was stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this story can be read at https://sportsperspectives.com/2018/02/09/front-barnett-associates-llc-decreases-position-in-activision-blizzard-inc-atvi.html.

Activision Blizzard Company Profile

Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. The Company develops and distributes content and services across various gaming platforms, including video game consoles, personal computers (PC) and mobile devices. Its segments include Activision Publishing, Inc (Activision), Blizzard Entertainment, Inc (Blizzard), King Digital Entertainment (King) and Other.

Want to see what other hedge funds are holding ATVI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Activision Blizzard, Inc. (NASDAQ:ATVI).

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

Receive News & Ratings for Activision Blizzard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Activision Blizzard and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply