Other equities analysts have also recently issued reports about the company. BidaskClub cut Activision Blizzard from a strong-buy rating to a buy rating in a report on Wednesday, July 25th. Needham & Company LLC boosted their price target on Activision Blizzard from $80.00 to $90.00 and gave the stock a buy rating in a report on Tuesday, July 31st. Wedbush set a $81.00 price target on Activision Blizzard and gave the stock a buy rating in a report on Thursday, July 26th. Argus reissued a buy rating and issued a $90.00 price target (up from $81.00) on shares of Activision Blizzard in a report on Friday, September 21st. Finally, BTIG Research boosted their price target on Activision Blizzard from $80.00 to $88.00 and gave the stock a buy rating in a report on Tuesday, October 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Activision Blizzard presently has an average rating of Buy and an average price target of $77.62.
ATVI stock traded down $7.78 during midday trading on Thursday, hitting $55.01. 34,539,389 shares of the stock were exchanged, compared to its average volume of 9,550,354. Activision Blizzard has a fifty-two week low of $53.50 and a fifty-two week high of $84.68. The stock has a market cap of $49.63 billion, a PE ratio of 26.83, a P/E/G ratio of 1.73 and a beta of 1.11. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.96 and a current ratio of 2.98.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings results on Thursday, November 8th. The company reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.03). Activision Blizzard had a return on equity of 16.39% and a net margin of 6.96%. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the firm earned $0.25 earnings per share. The business’s revenue was down 12.6% compared to the same quarter last year. As a group, equities research analysts predict that Activision Blizzard will post 2.49 earnings per share for the current year.
In other news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction on Monday, August 20th. The stock was sold at an average price of $68.70, for a total value of $1,357,580.70. Following the completion of the sale, the chief executive officer now owns 20,324 shares of the company’s stock, valued at $1,396,258.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.29% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of ATVI. Xact Kapitalforvaltning AB grew its position in Activision Blizzard by 3.8% during the second quarter. Xact Kapitalforvaltning AB now owns 159,450 shares of the company’s stock valued at $12,169,000 after acquiring an additional 5,888 shares during the period. Gofen & Glossberg LLC IL purchased a new stake in Activision Blizzard during the second quarter valued at about $905,000. Bremer Trust National Association purchased a new stake in Activision Blizzard during the second quarter valued at about $258,000. Peregrine Capital Management LLC grew its position in Activision Blizzard by 0.3% during the second quarter. Peregrine Capital Management LLC now owns 243,301 shares of the company’s stock valued at $18,569,000 after acquiring an additional 735 shares during the period. Finally, Palo Capital Inc. purchased a new stake in Activision Blizzard during the second quarter valued at about $622,000. 86.92% of the stock is owned by hedge funds and other institutional investors.
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. The company 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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