Activision Blizzard (NASDAQ:ATVI) had its price target lifted by BMO Capital Markets from $40.00 to $43.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. They currently have a market perform rating on the stock.
Several other brokerages have also issued reports on ATVI. UBS Group reiterated a buy rating and issued a $56.00 target price (up from $52.00) on shares of Activision Blizzard in a research report on Friday, August 9th. Zacks Investment Research upgraded shares of Activision Blizzard from a sell rating to a hold rating in a research report on Thursday, May 9th. MKM Partners restated a neutral rating and set a $47.00 price target (up from $45.00) on shares of Activision Blizzard in a research report on Friday, August 9th. Goldman Sachs Group upgraded shares of Activision Blizzard from a neutral rating to a buy rating and increased their target price for the stock from $50.00 to $54.00 in a report on Tuesday, May 28th. Finally, Wedbush reiterated an outperform rating and set a $60.00 target price on shares of Activision Blizzard in a report on Friday, August 9th. Twelve equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The stock has an average rating of Buy and an average price target of $59.68.
NASDAQ:ATVI traded down $0.10 during midday trading on Wednesday, hitting $45.16. The company had a trading volume of 170,895 shares, compared to its average volume of 6,763,880. Activision Blizzard has a 52-week low of $39.85 and a 52-week high of $84.68. The stock has a fifty day simple moving average of $47.41. The firm has a market cap of $36.11 billion, a P/E ratio of 18.88, a PEG ratio of 2.06 and a beta of 0.90. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.63 and a quick ratio of 2.61.
Activision Blizzard (NASDAQ:ATVI) last announced its earnings results on Thursday, August 8th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.14. Activision Blizzard had a net margin of 23.69% and a return on equity of 15.81%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the business earned $0.41 earnings per share. The firm’s quarterly revenue was down 12.9% compared to the same quarter last year. On average, sell-side analysts predict that Activision Blizzard will post 2.01 earnings per share for the current year.
In related news, insider Christopher B. Walther sold 5,333 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $50.34, for a total value of $268,463.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher B. Walther sold 11,333 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $47.91, for a total transaction of $542,964.03. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,999 shares of company stock valued at $914,079. 1.29% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in ATVI. Massey Quick Simon & CO. LLC bought a new position in shares of Activision Blizzard during the first quarter valued at approximately $25,000. Capital Investment Advisory Services LLC increased its stake in shares of Activision Blizzard by 189.5% during the second quarter. Capital Investment Advisory Services LLC now owns 553 shares of the company’s stock valued at $25,000 after purchasing an additional 362 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in shares of Activision Blizzard during the first quarter valued at approximately $27,000. Redhawk Wealth Advisors Inc. bought a new position in shares of Activision Blizzard during the second quarter valued at approximately $29,000. Finally, Thor Advisors LLC bought a new position in shares of Activision Blizzard during the first quarter valued at approximately $40,000. 86.34% of the stock is owned by institutional investors and hedge funds.
About Activision Blizzard
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. It 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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