Investec Asset Management (pty) Ltd Lowers stake in Activision Blizzard (ATVI)

Activision Blizzard (ATVI) : Investec Asset Management (pty) Ltd reduced its stake in Activision Blizzard by 38.07% during the most recent quarter end. The investment management company now holds a total of 15,620 shares of Activision Blizzard which is valued at $598,090 after selling 9,600 shares in Activision Blizzard , the firm said in a disclosure report filed with the SEC on May 12, 2016.Activision Blizzard makes up approximately 0.57% of Investec Asset Management (pty) Ltd’s portfolio.

Other Hedge Funds, Including , Boston Partners reduced its stake in ATVI by selling 6,434,807 shares or 26.16% in the most recent quarter. The Hedge Fund company now holds 18,165,266 shares of ATVI which is valued at $695.5 Million. Activision Blizzard makes up approx 1.02% of Boston Partners’s portfolio.Shell Asset Management Co reduced its stake in ATVI by selling 508 shares or 1.35% in the most recent quarter. The Hedge Fund company now holds 37,140 shares of ATVI which is valued at $1.4 Million. Activision Blizzard makes up approx 0.03% of Shell Asset Management Co’s portfolio.Cibc World Markets reduced its stake in ATVI by selling 62,510 shares or 48.08% in the most recent quarter. The Hedge Fund company now holds 67,489 shares of ATVI which is valued at $2.6 Million. Activision Blizzard makes up approx 0.01% of Cibc World Markets’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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