Weiss Asset Management LP Reduces Stock Position in Activision Blizzard, Inc. (NASDAQ:ATVI)

Weiss Asset Management LP cut its stake in shares of Activision Blizzard, Inc. (NASDAQ:ATVI – Get Rating) by 31.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 47,054 shares of the company’s stock after selling 21,150 shares during the period. Weiss Asset Management LP’s holdings in Activision Blizzard were worth $3,498,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. RFG Advisory LLC lifted its holdings in Activision Blizzard by 30.4% in the second quarter. RFG Advisory LLC now owns 3,732 shares of the company’s stock valued at $300,000 after acquiring an additional 871 shares during the period. CX Institutional boosted its holdings in shares of Activision Blizzard by 37.3% in the third quarter. CX Institutional now owns 8,423 shares of the company’s stock worth $626,000 after buying an additional 2,287 shares during the last quarter. Integrated Advisors Network LLC bought a new stake in Activision Blizzard during the third quarter valued at approximately $227,000. Assenagon Asset Management S.A. increased its holdings in Activision Blizzard by 3,179.3% during the third quarter. Assenagon Asset Management S.A. now owns 352,815 shares of the company’s stock valued at $26,228,000 after buying an additional 342,056 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Activision Blizzard by 99.7% in the third quarter. EverSource Wealth Advisors LLC now owns 1,372 shares of the company’s stock worth $102,000 after acquiring an additional 685 shares during the period. 79.34% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, COO Daniel Alegre sold 8,847 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $78.50, for a total value of $694,489.50. Following the completion of the sale, the chief operating officer now directly owns 156,170 shares of the company’s stock, valued at approximately $12,259,345. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.

Activision Blizzard Stock Performance

Activision Blizzard stock opened at $78.99 on Friday. The company has a quick ratio of 4.07, a current ratio of 4.07 and a debt-to-equity ratio of 0.19. Activision Blizzard, Inc. has a twelve month low of $70.94 and a twelve month high of $81.50. The company’s 50-day moving average price is $76.72 and its 200-day moving average price is $75.60. The company has a market cap of $61.95 billion, a PE ratio of 41.14, a price-to-earnings-growth ratio of 2.41 and a beta of 0.42.

Analysts Set New Price Targets

ATVI has been the subject of several analyst reports. StockNews.com began coverage on Activision Blizzard in a research note on Thursday. They issued a “hold” rating for the company. Wedbush reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Activision Blizzard in a research note on Friday, January 27th. Robert W. Baird upgraded Activision Blizzard from a “neutral” rating to an “outperform” rating and set a $95.00 price objective for the company in a research note on Tuesday, November 22nd. Deutsche Bank Aktiengesellschaft upgraded shares of Activision Blizzard from a “hold” rating to a “buy” rating and raised their target price for the stock from $83.00 to $90.00 in a research note on Thursday, February 16th. Finally, Citigroup dropped their price target on shares of Activision Blizzard from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Friday, February 10th. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.36.

About Activision Blizzard

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Activision Blizzard, Inc engages in the development and publication of entertainment content and services. It operates through the following segments: Activision Publishing Inc, Blizzard Entertainment Inc, and King Digital Entertainment. The Activision Publishing Inc segment delivers content through both premium and free-to-play offerings, as well as by licensing software to third-party or related-party companies that distribute Activision products.