Handelsinvest Investeringsforvaltning Lowers stake in Activision Blizzard (ATVI)

Activision Blizzard (ATVI) : Handelsinvest Investeringsforvaltning reduced its stake in Activision Blizzard by 16.0% during the most recent quarter end. The investment management company now holds a total of 73,500 shares of Activision Blizzard which is valued at $3,036,285 after selling 14,000 shares in Activision Blizzard , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Activision Blizzard makes up approximately 1.11% of Handelsinvest Investeringsforvaltning’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Investment Partners S.a. boosted its stake in ATVI in the latest quarter, The investment management firm added 81,874 additional shares and now holds a total of 148,969 shares of Activision Blizzard which is valued at $6,153,909. Activision Blizzard makes up approx 0.05% of Bnp Paribas Investment Partners S.a.’s portfolio.I.g. Investment Management Ltd. boosted its stake in ATVI in the latest quarter, The investment management firm added 253,792 additional shares and now holds a total of 305,979 shares of Activision Blizzard which is valued at $12,410,508. Activision Blizzard makes up approx 0.05% of I.g. Investment Management Ltd.’s portfolio.Gerber Kawasaki Wealth Investment Management boosted its stake in ATVI in the latest quarter, The investment management firm added 6,508 additional shares and now holds a total of 114,268 shares of Activision Blizzard which is valued at $4,589,003. Activision Blizzard makes up approx 2.79% of Gerber Kawasaki Wealth Investment Management’s portfolio.New Century Investment Management Inc reduced its stake in ATVI by selling 25,889 shares or 12.85% in the most recent quarter. The Hedge Fund company now holds 175,510 shares of ATVI which is valued at $7,273,134. Activision Blizzard makes up approx 3.74% of New Century Investment Management Inc’s portfolio.

Activision Blizzard opened for trading at $41.61 and hit $41.99 on the upside on Monday, eventually ending the session at $41.48, with a gain of 0.83% or 0.34 points. The heightened volatility saw the trading volume jump to 58,00,002 shares. Company has a market cap of $30,756 M.

On the company’s financial health, Activision Blizzard reported $0.45 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.42. The company had revenue of $1609.00 million for the quarter, compared to analysts expectations of $1447.97 million. The company’s revenue was up 112.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS.

Many Wall Street Analysts have commented on Activision Blizzard. Company shares were Reiterated by Stifel on Aug 8, 2016 to “Buy”, Firm has raised the Price Target to $ 46 from a previous price target of $45 .Company shares were Reiterated by Mizuho on Aug 5, 2016 to “Buy”, Firm has raised the Price Target to $ 46 from a previous price target of $42 .Company shares were Reiterated by Wedbush on Aug 5, 2016 to “Outperform”, Firm has raised the Price Target to $ 48 from a previous price target of $43 .

Activision Blizzard Inc. is a developer and publisher of online personal computer (PC) video game console handheld mobile and tablet games. The Company offers games that operate on the Microsoft Corporation (Microsoft) Xbox One (Xbox One) and Xbox 360 (Xbox 360) Nintendo Co. Ltd. (Nintendo) Wii U (Wii U) and Wii (Wii) and Sony Computer Entertainment Inc. (Sony) PlayStation 4 (PS4) and PlayStation 3 (PS3) console systems. The Company also develops products spanning other genres including first-person action action/adventure role-playing simulation and strategy. It distributes interactive entertainment hardware and software products in Europe through its European distribution subsidiaries: Centresoft in the United Kingdom and NBG in Germany. The Company’s operating segments include Activision Publishing Inc. and its subsidiaries Blizzard Entertainment Inc. and its subsidiaries and Activision Blizzard Distribution.

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