Wright Investors Service Inc adds Activision Blizzard (ATVI) to its portfolio

Activision Blizzard (ATVI) : Wright Investors Service Inc added new position in Activision Blizzard during the most recent quarter end. The investment management firm now holds 24,745 shares of Activision Blizzard which is valued at $999,203 , the company said in a statement filed on Aug 1, 2016 with the SEC.Activision Blizzard makes up approximately 0.40% of Wright Investors Service Inc’s portfolio.

Other Hedge Funds, Including , Gilder Gagnon Howe Co boosted its stake in ATVI in the latest quarter, The investment management firm added 901,260 additional shares and now holds a total of 915,341 shares of Activision Blizzard which is valued at $36,961,470. Activision Blizzard makes up approx 0.68% of Gilder Gagnon Howe Co’s portfolio.Conning boosted its stake in ATVI in the latest quarter, The investment management firm added 240 additional shares and now holds a total of 11,170 shares of Activision Blizzard which is valued at $456,741. Activision Blizzard makes up approx 0.02% of Conning’s portfolio.Ls Investment Advisors reduced its stake in ATVI by selling 517 shares or 3.73% in the most recent quarter. The Hedge Fund company now holds 13,346 shares of ATVI which is valued at $553,058. Activision Blizzard makes up approx 0.04% of Ls Investment Advisors’s portfolio.First Western Capital Management Co reduced its stake in ATVI by selling 15,825 shares or 30.46% in the most recent quarter. The Hedge Fund company now holds 36,135 shares of ATVI which is valued at $1,521,645. Activision Blizzard makes up approx 0.54% of First Western Capital Management Co’s portfolio.

Activision Blizzard opened for trading at $40.94 and hit $41.105 on the upside on Thursday, eventually ending the session at $40.83, with a gain of 1.11% or 0.45 points. The heightened volatility saw the trading volume jump to 1,09,76,806 shares. Company has a market cap of $30,142 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 Downgraded by MKM Partners on Jul 28, 2016 to ” Neutral”, Firm has raised the Price Target to $ 42 from a previous price target of $40 .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 .

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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