Activision Blizzard, Inc. (NASDAQ:ATVI) has been given an average recommendation of “Buy” by the thirty-four analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, twenty-four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $59.85.
ATVI has been the topic of several analyst reports. MKM Partners reiterated a “neutral” rating and issued a $47.00 target price (up previously from $45.00) on shares of Activision Blizzard in a research note on Friday, August 9th. Piper Jaffray Companies lifted their target price on Activision Blizzard from $55.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Jefferies Financial Group upgraded Activision Blizzard to a “buy” rating and set a $65.00 price target on the stock in a research note on Thursday, September 12th. Ascendiant Capital Markets restated a “buy” rating and set a $55.00 price target (up previously from $53.00) on shares of Activision Blizzard in a research note on Wednesday, August 14th. Finally, Stifel Nicolaus boosted their price target on Activision Blizzard from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, September 9th.
Shares of Activision Blizzard stock traded up $1.22 during trading on Friday, hitting $54.91. 1,528,914 shares of the stock traded hands, compared to its average volume of 7,907,994. The firm has a market cap of $41.52 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 2.09 and a beta of 0.85. The company has a current ratio of 3.46, a quick ratio of 3.43 and a debt-to-equity ratio of 0.22. Activision Blizzard has a 52-week low of $39.85 and a 52-week high of $80.25. The stock’s fifty day simple moving average is $53.00 and its 200 day simple moving average is $48.04.
Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.20 by $0.14. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. Activision Blizzard had a return on equity of 15.54% and a net margin of 23.69%. The business’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 earnings per share. As a group, equities analysts expect that Activision Blizzard will post 2 EPS for the current year.
In other Activision Blizzard news, insider Christopher B. Walther sold 5,333 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $52.67, for a total value of $280,889.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian M. Stolz sold 134,845 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $47.80, for a total value of $6,445,591.00. Following the completion of the transaction, the insider now directly owns 58,563 shares of the company’s stock, valued at $2,799,311.40. The disclosure for this sale can be found here. Insiders have sold 150,844 shares of company stock valued at $7,266,020 in the last ninety days. Corporate insiders own 1.29% of the company’s stock.
Large investors have recently made changes to their positions in the business. Capital Investment Advisory Services LLC increased its position in shares of Activision Blizzard by 189.5% in the second quarter. Capital Investment Advisory Services LLC now owns 553 shares of the company’s stock valued at $25,000 after buying an additional 362 shares in the last quarter. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Activision Blizzard in the second quarter valued at approximately $29,000. Freestone Capital Holdings LLC purchased a new stake in shares of Activision Blizzard in the second quarter valued at approximately $18,898,000. Thor Advisors LLC purchased a new stake in shares of Activision Blizzard in the first quarter valued at approximately $40,000. Finally, Kavar Capital Partners LLC purchased a new stake in shares of Activision Blizzard in the second quarter valued at approximately $47,000. 86.97% of the stock is owned by institutional investors.
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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