Bank of America upgraded shares of Activision Blizzard (NASDAQ:ATVI) from a neutral rating to a buy rating in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. They currently have $56.00 target price on the stock, up from their prior target price of $54.00.
Other equities research analysts have also issued reports about the stock. Wedbush reissued a buy rating and set a $24.00 target price on shares of Miragen Therapeutics in a report on Tuesday, May 21st. Citigroup initiated coverage on shares of UBISOFT ENTMT S/ADR in a research report on Friday, June 7th. They issued a buy rating on the stock. BidaskClub upgraded shares of Zillow Group from a hold rating to a buy rating in a research report on Wednesday, May 22nd. ValuEngine downgraded shares of Zosano Pharma from a buy rating to a hold rating in a research report on Wednesday, May 1st. Finally, Stephens set a $37.00 price target on shares of Talos Energy and gave the stock a buy rating in a research report on Wednesday, May 22nd. Thirteen investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $60.10.
ATVI traded up $0.97 during trading on Thursday, reaching $48.16. 367,400 shares of the company’s stock were exchanged, compared to its average volume of 5,432,203. Activision Blizzard has a one year low of $39.85 and a one year high of $84.68. The company has a quick ratio of 2.61, a current ratio of 2.63 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $36.60 billion, a PE ratio of 20.16, a PEG ratio of 2.34 and a beta of 0.90. The stock has a fifty day moving average price of $46.43.
Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Thursday, May 2nd. The company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.13. Activision Blizzard had a net margin of 23.90% and a return on equity of 16.19%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the firm posted $0.38 EPS. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Activision Blizzard will post 1.98 earnings per share for the current year.
In other Activision Blizzard news, insider Christopher B. Walther sold 2,333 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $44.00, for a total transaction of $102,652.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher B. Walther sold 11,333 shares of the business’s stock in a transaction on Monday, July 1st. The shares were 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. Insiders have sold a total of 15,999 shares of company stock valued at $752,724 in the last 90 days. 1.29% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in ATVI. Massey Quick Simon & CO. LLC bought a new stake in Activision Blizzard during the 1st quarter valued at $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in Activision Blizzard during the 1st quarter valued at $27,000. Thor Advisors LLC bought a new stake in Activision Blizzard during the 1st quarter valued at $40,000. Lindbrook Capital LLC increased its stake in Activision Blizzard by 33.9% during the 1st quarter. Lindbrook Capital LLC now owns 1,083 shares of the company’s stock valued at $49,000 after purchasing an additional 274 shares in the last quarter. Finally, FTB Advisors Inc. grew its stake in shares of Activision Blizzard by 72.6% in the 1st quarter. FTB Advisors Inc. now owns 1,094 shares of the company’s stock worth $49,000 after acquiring an additional 460 shares in the last quarter. Institutional investors and hedge funds own 86.38% 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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