A number of other equities research analysts also recently issued reports on ATVI. BidaskClub downgraded Activision Blizzard from a strong-buy rating to a buy rating in a research note on Wednesday, July 25th. Piper Jaffray Companies boosted their price target on Activision Blizzard to $84.00 and gave the company an overweight rating in a research note on Wednesday, July 25th. Needham & Company LLC boosted their price target on Activision Blizzard from $80.00 to $90.00 and gave the company a buy rating in a research note on Tuesday, July 31st. Barclays cut their price target on Activision Blizzard from $82.00 to $79.00 and set a hold rating for the company in a research note on Sunday, August 5th. Finally, Zacks Investment Research downgraded Activision Blizzard from a buy rating to a hold rating in a research note on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $77.62.
Shares of Activision Blizzard stock traded down $7.78 during trading hours on Friday, reaching $55.01. 34,539,389 shares of the stock traded hands, compared to its average volume of 9,550,354. The company has a market cap of $49.63 billion, a P/E ratio of 26.83, a P/E/G ratio of 1.73 and a beta of 1.11. Activision Blizzard has a one year low of $53.50 and a one year high of $84.68. The company has a quick ratio of 2.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.42.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings results on Thursday, November 8th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.03). The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.66 billion. Activision Blizzard had a net margin of 6.96% and a return on equity of 16.39%. The company’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Research analysts anticipate that Activision Blizzard will post 2.49 EPS for the current fiscal year.
In other news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $68.70, for a total transaction of $1,357,580.70. Following the transaction, the chief executive officer now directly owns 20,324 shares of the company’s stock, valued at approximately $1,396,258.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.29% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the company. Standard Life Aberdeen plc lifted its holdings in Activision Blizzard by 2.7% in the 2nd quarter. Standard Life Aberdeen plc now owns 1,666,892 shares of the company’s stock worth $127,226,000 after purchasing an additional 44,538 shares in the last quarter. Gladstone Capital Management LLP lifted its holdings in Activision Blizzard by 13.0% in the 2nd quarter. Gladstone Capital Management LLP now owns 304,889 shares of the company’s stock worth $23,175,000 after purchasing an additional 35,000 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Activision Blizzard by 2.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 719,206 shares of the company’s stock worth $59,830,000 after purchasing an additional 16,360 shares in the last quarter. Gabelli Funds LLC lifted its holdings in Activision Blizzard by 62.4% in the 2nd quarter. Gabelli Funds LLC now owns 284,200 shares of the company’s stock worth $21,690,000 after purchasing an additional 109,200 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC purchased a new position in Activision Blizzard in the 2nd quarter worth approximately $1,196,000. 86.92% of the stock is currently owned by hedge funds and other 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. 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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