ValuEngine downgraded shares of Activision Blizzard (NASDAQ:ATVI) from a buy rating to a hold rating in a research report released on Tuesday morning.
Other analysts have also recently issued reports about the company. BidaskClub cut Activision Blizzard from a strong-buy rating to a buy rating in a research report on Wednesday, July 25th. Needham & Company LLC lifted their price objective on Activision Blizzard from $80.00 to $90.00 and gave the company a buy rating in a research report on Tuesday, July 31st. Wedbush set a $81.00 price objective on Activision Blizzard and gave the company a buy rating in a research report on Thursday, July 26th. Zacks Investment Research raised Activision Blizzard from a hold rating to a buy rating and set a $87.00 price objective on the stock in a research report on Wednesday, July 4th. Finally, Argus reaffirmed a buy rating and set a $90.00 price objective (up from $81.00) on shares of Activision Blizzard in a research report on Friday, September 21st. Ten analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $81.53.
Activision Blizzard stock traded down $0.48 during trading hours on Tuesday, hitting $68.84. 106,748 shares of the stock traded hands, compared to its average volume of 8,578,232. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.96 and a current ratio of 2.98. The stock has a market cap of $51.45 billion, a price-to-earnings ratio of 33.59, a PEG ratio of 1.80 and a beta of 0.86. Activision Blizzard has a one year low of $57.29 and a one year high of $84.68.
Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Thursday, August 2nd. The company reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.11. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Activision Blizzard had a return on equity of 16.39% and a net margin of 6.96%. The business’s revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 EPS. On average, analysts predict that Activision Blizzard will post 2.49 earnings per share for the current year.
In other news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $68.70, for a total value of $1,357,580.70. Following the sale, the chief executive officer now directly owns 20,324 shares of the company’s stock, valued at approximately $1,396,258.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.29% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Asset Advisors Investment Management LLC bought a new stake in shares of Activision Blizzard in the 3rd quarter worth approximately $100,000. Ashburton Jersey Ltd purchased a new position in Activision Blizzard in the 2nd quarter worth approximately $107,000. Quad Cities Investment Group LLC purchased a new position in Activision Blizzard in the 2nd quarter worth approximately $114,000. NuWave Investment Management LLC purchased a new position in Activision Blizzard in the 2nd quarter worth approximately $121,000. Finally, Kaizen Advisory LLC raised its holdings in Activision Blizzard by 155.2% in the 2nd quarter. Kaizen Advisory LLC now owns 1,876 shares of the company’s stock worth $143,000 after acquiring an additional 1,141 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.
Activision Blizzard Company Profile
Activision Blizzard, Inc develops and distributes content and services on video game consoles, personal computers (PC), and mobile devices. The company operates through three segments: Activision Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment. The company develops, publishes, and sells interactive software products and entertainment content for the console and PC platforms through retail and digital channels, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies; and offers downloadable content.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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