Activision Blizzard, Inc (NASDAQ:ATVI) – Jefferies Group increased their Q3 2017 earnings per share estimates for Activision Blizzard in a report released on Tuesday, Zacks Investment Research reports. Jefferies Group analyst T. O’shea now anticipates that the company will post earnings per share of $0.56 for the quarter, up from their prior estimate of $0.50. Jefferies Group currently has a “Buy” rating and a $82.00 target price on the stock. Jefferies Group also issued estimates for Activision Blizzard’s Q4 2017 earnings at $0.99 EPS.
Several other brokerages have also recently commented on ATVI. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $70.00 target price on shares of Activision Blizzard in a research report on Wednesday. Hilliard Lyons raised Activision Blizzard from an “underperform” rating to a “neutral” rating in a research report on Wednesday. Vetr raised Activision Blizzard from a “sell” rating to a “hold” rating and set a $63.32 target price for the company in a research report on Monday, November 6th. UBS AG raised their target price on Activision Blizzard from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Finally, Morgan Stanley raised their target price on Activision Blizzard from $70.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, November 3rd. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Activision Blizzard has an average rating of “Buy” and an average target price of $68.75.
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Activision Blizzard (NASDAQ ATVI) traded down $0.31 on Wednesday, hitting $63.00. The stock had a trading volume of 4,858,800 shares, compared to its average volume of 6,861,648. The company has a market cap of $47,868.66, a price-to-earnings ratio of 28.78, a PEG ratio of 2.21 and a beta of 1.07. The company has a current ratio of 2.25, a quick ratio of 2.22 and a debt-to-equity ratio of 0.44. Activision Blizzard has a 1-year low of $35.12 and a 1-year high of $67.03.
In related news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $61.32, for a total transaction of $1,211,744.52. Following the transaction, the chief executive officer now directly owns 48,472 shares in the company, valued at $2,972,303.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.12% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of ATVI. Cornerstone Advisors Inc. increased its stake in Activision Blizzard by 321.5% during the third quarter. Cornerstone Advisors Inc. now owns 1,547 shares of the company’s stock valued at $100,000 after acquiring an additional 1,180 shares during the period. Shine Investment Advisory Services Inc. acquired a new stake in Activision Blizzard during the second quarter valued at approximately $142,000. Huntington National Bank boosted its holdings in Activision Blizzard by 122.6% during the second quarter. Huntington National Bank now owns 2,480 shares of the company’s stock valued at $143,000 after purchasing an additional 1,366 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its holdings in Activision Blizzard by 16.2% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,606 shares of the company’s stock valued at $150,000 after purchasing an additional 363 shares in the last quarter. Finally, Phocas Financial Corp. acquired a new stake in Activision Blizzard during the second quarter valued at approximately $173,000. Hedge funds and other institutional investors own 86.32% of the company’s stock.
Activision Blizzard Company Profile
Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. The Company develops and distributes content and services across various gaming platforms, including video game consoles, personal computers (PC) and mobile devices. Its segments include Activision Publishing, Inc (Activision), Blizzard Entertainment, Inc (Blizzard), King Digital Entertainment (King) and Other.
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