Activision Blizzard, Inc. (ATVI) Rating Lowered to Hold at Vetr Inc.
Activision Blizzard, Inc. (NASDAQ:ATVI) was downgraded by Vetr from a “buy” rating to a “hold” rating in a research note issued on Tuesday. They presently have a $59.65 target price on the stock. Vetr‘s price objective suggests a potential upside of 3.20% from the stock’s current price.
Other equities research analysts have also recently issued reports about the company. Mizuho boosted their price objective on Activision Blizzard to $50.00 in a research note on Friday, February 10th. Jefferies Group LLC restated a “buy” rating and set a $55.00 target price on shares of Activision Blizzard in a research report on Friday, February 10th. Benchmark Co. boosted their target price on Activision Blizzard from $50.87 to $53.90 and gave the company a “buy” rating in a research report on Friday, February 3rd. Stifel Nicolaus restated a “buy” rating and set a $53.00 target price (up previously from $45.00) on shares of Activision Blizzard in a research report on Friday, February 10th. Finally, Barclays PLC boosted their target price on Activision Blizzard to $48.00 and gave the company a “buy” rating in a research report on Friday, February 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $53.94.
Shares of Activision Blizzard (NASDAQ:ATVI) traded up 1.19% during midday trading on Tuesday, reaching $57.80. The company had a trading volume of 10,327,412 shares. The firm has a market capitalization of $43.56 billion, a price-to-earnings ratio of 42.41 and a beta of 1.03. Activision Blizzard has a 52 week low of $35.12 and a 52 week high of $60.13. The stock has a 50-day moving average of $52.36 and a 200 day moving average of $44.35. Activision Blizzard also saw unusually large options trading on Tuesday. Stock investors acquired 2,050 call options on the stock. This is an increase of 196% compared to the average volume of 693 call options.
Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings data on Thursday, May 4th. The company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.11. Activision Blizzard had a return on equity of 16.70% and a net margin of 13.86%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the firm posted $0.23 earnings per share. The firm’s revenue for the quarter was up 31.7% on a year-over-year basis. On average, analysts anticipate that Activision Blizzard will post $1.99 earnings per share for the current year.
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In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $55.45, for a total transaction of $1,095,747.45. Following the completion of the sale, the chief executive officer now owns 55,509 shares in the company, valued at $3,077,974.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Brian G. Kelly sold 420,063 shares of the company’s stock in a transaction on Tuesday, March 28th. The stock was sold at an average price of $49.90, for a total value of $20,961,143.70. The disclosure for this sale can be found here. 25.23% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of ATVI. Granite Investment Partners LLC raised its stake in Activision Blizzard by 6.6% in the first quarter. Granite Investment Partners LLC now owns 171,868 shares of the company’s stock worth $8,569,000 after buying an additional 10,695 shares in the last quarter. I.G. Investment Management LTD. raised its stake in Activision Blizzard by 9.4% in the fourth quarter. I.G. Investment Management LTD. now owns 433,406 shares of the company’s stock worth $15,650,000 after buying an additional 37,205 shares in the last quarter. Panagora Asset Management Inc. raised its stake in Activision Blizzard by 365.7% in the third quarter. Panagora Asset Management Inc. now owns 295,044 shares of the company’s stock worth $13,070,000 after buying an additional 231,695 shares in the last quarter. Zurich Insurance Group Ltd FI raised its stake in Activision Blizzard by 11.5% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 108,343 shares of the company’s stock worth $3,912,000 after buying an additional 11,198 shares in the last quarter. Finally, Polaris Greystone Financial Group LLC raised its stake in Activision Blizzard by 3.8% in the first quarter. Polaris Greystone Financial Group LLC now owns 19,296 shares of the company’s stock worth $962,000 after buying an additional 706 shares in the last quarter. Institutional investors own 86.29% of the company’s stock.
About Activision Blizzard
Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. The Company develops and distributes content and services across various gaming platforms, including video game consoles, personal computers (PC) and mobile devices. Its segments include Activision Publishing, Inc (Activision), Blizzard Entertainment, Inc (Blizzard), King Digital Entertainment (King) and Other.
To view Vetr’s full report, visit Vetr’s official website.
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