Mainstay Capital Management LLC ADV Purchases 24,565 Shares of Activision Blizzard, Inc. (NASDAQ:ATVI)
Mainstay Capital Management LLC ADV increased its holdings in shares of Activision Blizzard, Inc. (NASDAQ:ATVI) by 49,130.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,615 shares of the company’s stock after acquiring an additional 24,565 shares during the quarter. Mainstay Capital Management LLC ADV’s holdings in Activision Blizzard were worth $323,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Quad Cities Investment Group LLC acquired a new position in shares of Activision Blizzard in the 2nd quarter worth approximately $114,000. NuWave Investment Management LLC purchased a new stake in Activision Blizzard during the 2nd quarter worth approximately $121,000. Kaizen Advisory LLC increased its stake in Activision Blizzard by 155.2% during the 2nd quarter. Kaizen Advisory LLC now owns 1,876 shares of the company’s stock worth $143,000 after buying an additional 1,141 shares during the period. Acadian Asset Management LLC purchased a new stake in Activision Blizzard during the 2nd quarter worth approximately $156,000. Finally, Sun Life Financial INC increased its stake in Activision Blizzard by 786.3% during the 2nd quarter. Sun Life Financial INC now owns 2,065 shares of the company’s stock worth $158,000 after buying an additional 1,832 shares during the period. Institutional investors own 87.05% of the company’s stock.
ATVI has been the topic of several recent research reports. KeyCorp increased their price objective on shares of Activision Blizzard from $83.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, June 18th. Zacks Investment Research raised shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research report on Wednesday, July 4th. Morgan Stanley increased their price objective on shares of Activision Blizzard from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, July 11th. BidaskClub downgraded shares of Activision Blizzard from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Finally, Piper Jaffray Companies increased their price objective on shares of Activision Blizzard to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, July 25th. Nine investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $81.16.
Shares of ATVI stock traded up $4.07 during mid-day trading on Friday, hitting $77.92. The stock had a trading volume of 12,258,813 shares, compared to its average volume of 6,241,610. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.96 and a current ratio of 2.98. The stock has a market capitalization of $63.42 billion, a PE ratio of 38.01, a price-to-earnings-growth ratio of 2.22 and a beta of 0.86. Activision Blizzard, Inc. has a fifty-two week low of $57.29 and a fifty-two week high of $84.68.
Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings results on Thursday, August 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.11. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.38 billion. Activision Blizzard had a net margin of 6.96% and a return on equity of 18.00%. The business’s revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 EPS. Equities analysts forecast that Activision Blizzard, Inc. will post 2.49 earnings per share for the current fiscal year.
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. The company 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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