Activision Blizzard, Inc (NASDAQ:ATVI) Receives “Overweight” Rating from Morgan Stanley
Activision Blizzard, Inc (NASDAQ:ATVI)‘s stock had its “overweight” rating restated by investment analysts at Morgan Stanley in a report released on Saturday. They presently have a $67.00 price target on the stock. Morgan Stanley’s price target would indicate a potential upside of 9.96% from the company’s current price.
Other research analysts have also issued reports about the company. UBS AG reaffirmed a “buy” rating and set a $60.00 target price (up from $57.00) on shares of Activision Blizzard in a report on Friday, May 5th. Stifel Nicolaus reaffirmed a “buy” rating and set a $59.00 target price (up from $53.00) on shares of Activision Blizzard in a report on Tuesday, May 2nd. Benchmark Co. reaffirmed a “buy” rating and set a $57.88 target price (up from $53.96) on shares of Activision Blizzard in a report on Monday, May 1st. Vetr raised Activision Blizzard from a “sell” rating to a “buy” rating and set a $59.23 target price on the stock in a report on Tuesday, May 2nd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $55.00 target price on shares of Activision Blizzard in a report on Tuesday, April 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-two have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $60.34.
Shares of Activision Blizzard (NASDAQ ATVI) traded down 0.25% during midday trading on Friday, reaching $60.93. 5,803,676 shares of the company were exchanged. Activision Blizzard has a 52-week low of $35.12 and a 52-week high of $62.39. The firm’s 50 day moving average is $59.29 and its 200-day moving average is $50.54. The company has a market capitalization of $45.92 billion, a PE ratio of 44.70 and a beta of 1.07.
Activision Blizzard (NASDAQ:ATVI) last released its earnings results on Thursday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.11. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.09 billion. Activision Blizzard had a return on equity of 16.90% and a net margin of 14.63%. Activision Blizzard’s revenue was up 31.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 earnings per share. On average, equities analysts forecast that Activision Blizzard will post $2.00 earnings per share for the current fiscal year.
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In other news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction dated 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 directly owns 55,509 shares in the company, valued at approximately $3,077,974.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.12% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. Thrivent Financial for Lutherans raised its stake in shares of Activision Blizzard by 6.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 24,140 shares of the company’s stock valued at $872,000 after buying an additional 1,510 shares in the last quarter. Kentucky Retirement Systems purchased a new stake in shares of Activision Blizzard during the fourth quarter valued at about $1,792,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Activision Blizzard during the fourth quarter valued at about $799,000. Highbridge Capital Management LLC raised its stake in shares of Activision Blizzard by 15,075.0% in the fourth quarter. Highbridge Capital Management LLC now owns 584,024 shares of the company’s stock valued at $21,089,000 after buying an additional 587,924 shares in the last quarter. Finally, TrueNorth Inc. purchased a new stake in shares of Activision Blizzard during the fourth quarter valued at about $322,000. Institutional investors and hedge funds own 87.45% 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.
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