Jag Capital Management Lowers stake in Activision Blizzard (ATVI)

Activision Blizzard (ATVI) : Jag Capital Management reduced its stake in Activision Blizzard by 6.01% during the most recent quarter end. The investment management company now holds a total of 446,255 shares of Activision Blizzard which is valued at $18,492,807 after selling 28,517 shares in Activision Blizzard , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.Activision Blizzard makes up approximately 3.55% of Jag Capital Management’s portfolio.

Other Hedge Funds, Including , Hartford Investment Management Co reduced its stake in ATVI by selling 955 shares or 0.77% in the most recent quarter. The Hedge Fund company now holds 123,588 shares of ATVI which is valued at $5,121,487. Activision Blizzard makes up approx 0.10% of Hartford Investment Management Co’s portfolio.Capital One National Association reduced its stake in ATVI by selling 7,533 shares or 12.03% in the most recent quarter. The Hedge Fund company now holds 55,104 shares of ATVI which is valued at $2,280,204. Activision Blizzard makes up approx 0.18% of Capital One National Association’s portfolio. Arcadia Investment Management Corpmi added ATVI to its portfolio by purchasing 798 company shares during the most recent quarter which is valued at $33,628. Activision Blizzard makes up approx 0.01% of Arcadia Investment Management Corpmi’s portfolio.Gateway Investment Advisers reduced its stake in ATVI by selling 199 shares or 0.03% in the most recent quarter. The Hedge Fund company now holds 646,184 shares of ATVI which is valued at $27,210,808. Activision Blizzard makes up approx 0.23% of Gateway Investment Advisers’s portfolio.

Activision Blizzard closed down -0.14 points or -0.34% at $41.38 with 59,73,714 shares getting traded on Wednesday. Post opening the session at $41.68, the shares hit an intraday low of $41.22 and an intraday high of $41.705 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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 Barclays on Jun 16, 2016 to “Overweight”, Firm has raised the Price Target to $ 42 from a previous price target of $38 .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 .

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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