Investec Asset Management Ltd buys $351.1 Million stake in Activision Blizzard (ATVI)

Activision Blizzard (ATVI) : Investec Asset Management Ltd scooped up 314,842 additional shares in Activision Blizzard during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 9,168,349 shares of Activision Blizzard which is valued at $351.1 Million.Activision Blizzard makes up approximately 1.90% of Investec Asset Management Ltd’s portfolio.

Other Hedge Funds, Including , Bb&t Securities boosted its stake in ATVI in the latest quarter, The investment management firm added 76,804 additional shares and now holds a total of 1,128,662 shares of Activision Blizzard which is valued at $43.2 Million. Activision Blizzard makes up approx 0.72% of Bb&t Securities’s portfolio.Rs Investment Management Co reduced its stake in ATVI by selling 218,978 shares or 34.93% in the most recent quarter. The Hedge Fund company now holds 407,866 shares of ATVI which is valued at $15.6 Million. Activision Blizzard makes up approx 0.16% of Rs Investment Management Co’s portfolio. Los Angeles Capital Management Equity Research Inc sold out all of its stake in ATVI during the most recent quarter. The investment firm sold 88,243 shares of ATVI which is valued $3.3 Million.Hanseatic Management Services Inc reduced its stake in ATVI by selling 34,376 shares or 54.95% in the most recent quarter. The Hedge Fund company now holds 28,184 shares of ATVI which is valued at $1.1 Million. Activision Blizzard makes up approx 0.39% of Hanseatic Management Services Inc’s portfolio. Badgley Phelps Bell Inc added ATVI to its portfolio by purchasing 186,225 company shares during the most recent quarter which is valued at $7.1 Million. Activision Blizzard makes up approx 0.66% of Badgley Phelps Bell Inc’s portfolio.

Activision Blizzard closed down -0.27 points or -0.71% at $37.53 with 1,16,41,830 shares getting traded on Friday. Post opening the session at $37.81, the shares hit an intraday low of $37.16 and an intraday high of $37.9434 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Activision Blizzard reported $0.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.12. The company had revenue of $908.00 million for the quarter, compared to analysts expectations of $813.79 million. The company’s revenue was up 29.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS.

Many Wall Street Analysts have commented on Activision Blizzard. Company shares were Reiterated by Stifel on May 9, 2016 to “Buy”, Firm has raised the Price Target to $ 45 from a previous price target of $40 .Company shares were Reiterated by The Benchmark Company on May 6, 2016 to “Buy”, Firm has raised the Price Target to $ 40.45 from a previous price target of $37.63 .Company shares were Reiterated by MKM Partners on May 6, 2016 to “Buy”, Firm has raised the Price Target to $ 40 from a previous price target of $38 .

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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