Activision Blizzard Inc. (ATVI) Lifted to Strong-Buy at Vetr Inc.
Activision Blizzard Inc. (NASDAQ:ATVI) was upgraded by research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday. The brokerage presently has a $49.99 price objective on the stock. Vetr‘s price objective would indicate a potential upside of 16.51% from the stock’s current price.
A number of other brokerages have also commented on ATVI. Wedbush restated an “outperform” rating and set a $43.00 price objective on shares of Activision Blizzard in a report on Wednesday, July 6th. Morgan Stanley initiated coverage on shares of Activision Blizzard in a research report on Friday, September 23rd. They issued an “overweight” rating and a $56.00 target price for the company. Robert W. Baird reaffirmed an “outperform” rating and issued a $46.00 target price on shares of Activision Blizzard in a research report on Thursday, September 8th. Jefferies Group reaffirmed a “buy” rating on shares of Activision Blizzard in a research report on Monday, August 22nd. Finally, Argus reaffirmed a “buy” rating on shares of Activision Blizzard in a research report on Thursday, August 25th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $44.96.
Shares of Activision Blizzard (NASDAQ:ATVI) traded down 2.03% on Tuesday, hitting $42.90. 7,005,641 shares of the stock were exchanged. The company has a 50-day moving average price of $43.27 and a 200-day moving average price of $39.37. Activision Blizzard has a one year low of $26.49 and a one year high of $45.12. The firm has a market capitalization of $31.81 billion, a PE ratio of 43.20 and a beta of 1.09.
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Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. Activision Blizzard had a net margin of 13.95% and a return on equity of 14.49%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the business posted $0.13 earnings per share. The firm’s quarterly revenue was up 112.0% on a year-over-year basis. Equities research analysts expect that Activision Blizzard will post $1.99 earnings per share for the current year.
In other news, CEO Robert A. Kotick sold 4,588,775 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $40.51, for a total value of $185,891,275.25. Following the completion of the transaction, the chief executive officer now directly owns 797,049 shares in the company, valued at approximately $32,288,454.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $39.63, for a total transaction of $783,128.43. Following the completion of the transaction, the chief executive officer now owns 76,620 shares of the company’s stock, valued at $3,036,450.60. The disclosure for this sale can be found here. 25.23% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC boosted its position in shares of Activision Blizzard by 24.0% in the third quarter. Advisory Services Network LLC now owns 3,669 shares of the company’s stock valued at $163,000 after buying an additional 711 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Activision Blizzard by 103.0% in the second quarter. Bessemer Group Inc. now owns 5,062 shares of the company’s stock valued at $201,000 after buying an additional 2,568 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Activision Blizzard during the second quarter valued at about $210,000. Buckingham Asset Management LLC bought a new stake in shares of Activision Blizzard during the second quarter valued at about $216,000. Finally, Palladium Partners LLC bought a new stake in shares of Activision Blizzard during the second quarter valued at about $220,000. Institutional investors own 83.67% of the company’s stock.
About Activision Blizzard
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.
To view Vetr’s full report, visit Vetr’s official website.
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