Activision Blizzard (ATVI) Lowered to Sell at BidaskClub

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BidaskClub downgraded shares of Activision Blizzard (NASDAQ:ATVI) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

A number of other research firms also recently weighed in on ATVI. Wedbush set a $81.00 price target on shares of Activision Blizzard and gave the stock a buy rating in a research note on Thursday, July 26th. Piper Jaffray Companies boosted their price target on shares of Activision Blizzard to $84.00 and gave the stock an overweight rating in a research note on Wednesday, July 25th. KeyCorp boosted their price target on shares of Activision Blizzard from $83.00 to $90.00 and gave the stock an overweight rating in a research note on Monday, June 18th. Morgan Stanley boosted their price target on shares of Activision Blizzard from $75.00 to $80.00 and gave the stock an overweight rating in a research note on Wednesday, July 11th. Finally, Zacks Investment Research raised shares of Activision Blizzard from a hold rating to a buy rating and set a $87.00 price target for the company in a research note on Wednesday, July 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen 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 a consensus price target of $78.55.

Shares of ATVI traded up $1.60 on Thursday, reaching $73.56. 174,764 shares of the company’s stock were exchanged, compared to its average volume of 6,252,135. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.98 and a quick ratio of 2.96. The company has a market cap of $54.63 billion, a price-to-earnings ratio of 35.16, a price-to-earnings-growth ratio of 1.91 and a beta of 0.87. Activision Blizzard has a 12 month low of $57.29 and a 12 month high of $81.64.

Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings results on Thursday, August 2nd. The company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.11. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.38 billion. Activision Blizzard had a net margin of 6.96% and a return on equity of 18.00%. Activision Blizzard’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 earnings per share. analysts expect that Activision Blizzard will post 2.49 EPS for the current year.

In related news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $68.70, for a total transaction of $1,357,580.70. Following the completion of the transaction, the chief executive officer now owns 20,324 shares in the company, valued at $1,396,258.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.29% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Altman Advisors Inc. acquired a new position in shares of Activision Blizzard in the second quarter valued at approximately $323,000. Ashburton Jersey Ltd acquired a new position in shares of Activision Blizzard in the second quarter valued at approximately $107,000. Quad Cities Investment Group LLC acquired a new position in shares of Activision Blizzard in the second quarter valued at approximately $114,000. NuWave Investment Management LLC acquired a new position in shares of Activision Blizzard in the second quarter valued at approximately $121,000. Finally, Signaturefd LLC acquired a new position in shares of Activision Blizzard in the first quarter valued at approximately $114,000. Institutional investors own 86.92% 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. 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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Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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