Dallas, Texas 07/30/2013 (Financialstrend) – Activision Blizzard, Inc. (NASDAQ:ATVI) yesterday announced its buyback of majority of its shares from Vivendi which is a French video game company, to Activision Blizzard it transferred its Blizzard division in the year 2007 along with 52% of cash in exchange since the shares of Vivendi continued to fall shares bumped along from 2009 Vivendi started to push Activision Blizzard for payout. Thus after a month struggle the company got payout with only 12% stake left.
Activision Blizzard which is expected to announce its financial result in August, gave a small heads up that World of Warcraft the company’s successful multiplayer online game which saw fall in the past now having a boast with7.7 million subscribers. In addition with the introduction of new gaming consoles by Nintendo, Sony Corporation (ADR) (NYSE:SNE) and Microsoft Corporation (NASDAQ:MSFT), Activision Blizzard facing the competition to give the most entertaining game. Following the buyback plan announced by the company analysts at Stifel, Jefferies and Credit Suisse raised their price target for the shares of Activision Blizzard following the buyback plan announced by the company.
Activision Blizzard, Inc. (NASDAQ:ATVI) had moved on to close at $18.27 per share on Monday, which was measured to be an increase of 4.64% over the previous closing price of the stock. The company had been moving between the range of $17.38 as low intraday price and $18.39 as high intraday price. The 52 week low for the stock is at $10.45 per share and 52 week high is at $18.39 per share. With 1.12 billion shares in the market, there is 36% of institutional ownership and $20.42 billion of market cap value for the stock. The company had presented a trading volume of 20.72 million shares on Monday and the average level is at 7.34 million shares per day.