Activision Blizzard Inc. (NASDAQ:ATVI) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Activision Blizzard Inc. (NASDAQ:ATVI) have been assigned a consensus recommendation of “Buy” from the twenty-two ratings firms that are covering the company. Four equities research analysts have rated the stock with a hold recommendation and eighteen have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $45.02.
A number of research analysts have commented on the stock. Pacific Crest reaffirmed a “buy” rating on shares of Activision Blizzard in a research report on Sunday, June 26th. Barclays PLC reissued a “buy” rating on shares of Activision Blizzard in a research report on Saturday, June 18th. Robert W. Baird reissued an “outperform” rating and set a $46.00 price target (up previously from $43.00) on shares of Activision Blizzard in a research report on Sunday, August 7th. BMO Capital Markets reissued a “market perform” rating and set a $38.00 price target on shares of Activision Blizzard in a research report on Wednesday, August 10th. Finally, Jefferies Group reissued a “buy” rating on shares of Activision Blizzard in a research report on Monday, July 11th.
In related news, CEO Riccardo Zacconi sold 19,761 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $40.65, for a total transaction of $803,284.65. Following the completion of the sale, the chief executive officer now directly owns 97,177 shares of the company’s stock, valued at $3,950,245.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brian G. Kelly sold 386,927 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $40.51, for a total value of $15,674,412.77. Following the sale, the director now directly owns 292,929 shares of the company’s stock, valued at $11,866,553.79. The disclosure for this sale can be found here. Corporate insiders own 25.23% of the company’s stock.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/10/activision-blizzard-inc-nasdaqatvi-receives-consensus-recommendation-of-buy-from-analysts.html
Several large investors have recently modified their holdings of the company. UBS Asset Management Americas Inc. increased its stake in shares of Activision Blizzard by 7.9% in the first quarter. UBS Asset Management Americas Inc. now owns 1,750,864 shares of the company’s stock valued at $59,249,000 after buying an additional 128,104 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its stake in Activision Blizzard by 9.5% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 67,168 shares of the company’s stock worth $2,273,000 after buying an additional 5,825 shares during the period. Meeder Asset Management Inc. increased its stake in Activision Blizzard by 14.0% in the first quarter. Meeder Asset Management Inc. now owns 88,011 shares of the company’s stock worth $2,978,000 after buying an additional 10,819 shares during the period. Rafferty Asset Management LLC increased its stake in Activision Blizzard by 8.5% in the first quarter. Rafferty Asset Management LLC now owns 24,187 shares of the company’s stock worth $818,000 after buying an additional 1,902 shares during the period. Finally, BB&T Securities LLC increased its stake in Activision Blizzard by 7.3% in the first quarter. BB&T Securities LLC now owns 1,128,662 shares of the company’s stock worth $38,193,000 after buying an additional 76,804 shares during the period. 83.67% of the stock is owned by hedge funds and other institutional investors.
Activision Blizzard (NASDAQ:ATVI) traded up 0.262% during mid-day trading on Monday, reaching $44.035. 2,055,601 shares of the company were exchanged. Activision Blizzard has a 1-year low of $26.49 and a 1-year high of $45.12. The firm has a market capitalization of $32.65 billion, a P/E ratio of 44.345 and a beta of 1.09. The stock has a 50-day moving average of $43.09 and a 200 day moving average of $39.16.
Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Thursday, August 4th. The company reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.03. Activision Blizzard had a net margin of 13.95% and a return on equity of 14.49%. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the prior year, the company posted $0.13 earnings per share. Activision Blizzard’s revenue for the quarter was up 112.0% compared to the same quarter last year. Equities research analysts forecast that Activision Blizzard will post $1.99 earnings per share for the current year.
Activision Blizzard Company Profile
Activision Blizzard, Inc is a developer and publisher of online, personal computer (PC), video game console, handheld, mobile and tablet games. The Company operates through Activision Publishing, Inc (Activision) and its subsidiaries, Blizzard Entertainment, Inc (Blizzard) and its subsidiaries, and Other segments.
Receive News & Ratings for Activision Blizzard Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Activision Blizzard Inc. and related companies with MarketBeat.com's FREE daily email newsletter.