BidaskClub upgraded shares of Activision Blizzard (NASDAQ:ATVI) from a buy rating to a strong-buy rating in a research note released on Tuesday morning, BidAskClub reports.
Several other equities research analysts have also recently issued reports on the stock. Bank of America raised their target price on shares of Activision Blizzard from $57.00 to $62.00 and gave the stock a buy rating in a report on Thursday, September 12th. Nomura upgraded shares of Activision Blizzard from a neutral rating to a buy rating and raised their target price for the stock from $49.00 to $64.00 in a report on Thursday, September 12th. BMO Capital Markets upgraded shares of Activision Blizzard from a market perform rating to an outperform rating and raised their target price for the stock from $43.00 to $60.00 in a report on Wednesday, September 4th. UBS Group restated a buy rating and issued a $56.00 target price (up previously from $52.00) on shares of Activision Blizzard in a report on Friday, August 9th. Finally, ValuEngine upgraded shares of Activision Blizzard from a hold rating to a buy rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $60.10.
NASDAQ:ATVI opened at $54.82 on Tuesday. The company’s 50 day moving average price is $53.12 and its 200-day moving average price is $48.09. Activision Blizzard has a 52 week low of $39.85 and a 52 week high of $80.25. The company has a quick ratio of 3.43, a current ratio of 3.46 and a debt-to-equity ratio of 0.22. The stock has a market cap of $40.98 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 2.07 and a beta of 0.85.
Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.14. Activision Blizzard had a net margin of 23.69% and a return on equity of 15.54%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the company posted $0.41 earnings per share. The business’s revenue for the quarter was down 12.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Activision Blizzard will post 2 earnings per share for the current year.
In other Activision Blizzard news, insider Christopher B. Walther sold 5,333 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $52.67, for a total value of $280,889.11. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian M. Stolz sold 134,845 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $47.80, for a total transaction of $6,445,591.00. Following the completion of the transaction, the insider now owns 58,563 shares in the company, valued at $2,799,311.40. The disclosure for this sale can be found here. Insiders sold 150,844 shares of company stock worth $7,266,020 over the last quarter. Insiders own 1.29% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rothschild Investment Corp IL bought a new position in Activision Blizzard in the third quarter worth approximately $393,000. Burns J W & Co. Inc. NY raised its position in shares of Activision Blizzard by 3.8% during the 3rd quarter. Burns J W & Co. Inc. NY now owns 7,880 shares of the company’s stock valued at $417,000 after purchasing an additional 290 shares during the period. Community Trust & Investment Co. raised its position in shares of Activision Blizzard by 12.0% during the 3rd quarter. Community Trust & Investment Co. now owns 344,391 shares of the company’s stock valued at $18,226,000 after purchasing an additional 36,888 shares during the period. Truvestments Capital LLC raised its position in shares of Activision Blizzard by 4.6% during the 3rd quarter. Truvestments Capital LLC now owns 4,428 shares of the company’s stock valued at $234,000 after purchasing an additional 194 shares during the period. Finally, Pacer Advisors Inc. raised its position in shares of Activision Blizzard by 16.6% during the 3rd quarter. Pacer Advisors Inc. now owns 139,866 shares of the company’s stock valued at $7,402,000 after purchasing an additional 19,942 shares during the period. Institutional investors and hedge funds own 86.97% of the company’s stock.
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. 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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