Vetr upgraded shares of Activision Blizzard Inc. (NASDAQ:ATVI) from a sell rating to a hold rating in a report issued on Monday morning. The brokerage currently has $44.87 target price on the stock.
Other research analysts also recently issued reports about the company. Pacific Crest restated a buy rating on shares of Activision Blizzard in a research note on Sunday, June 26th. Barclays PLC restated a buy rating on shares of Activision Blizzard in a research note on Saturday, June 18th. Cowen and Company restated a buy rating on shares of Activision Blizzard in a research note on Saturday, June 4th. Robert W. Baird restated an outperform rating and set a $46.00 target price (up from $43.00) on shares of Activision Blizzard in a research note on Sunday, August 7th. Finally, BMO Capital Markets restated a market perform rating and set a $38.00 target price on shares of Activision Blizzard in a research note on Wednesday, August 10th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $44.72.
Activision Blizzard (NASDAQ:ATVI) opened at 44.21 on Monday. The company has a market capitalization of $32.78 billion, a P/E ratio of 44.52 and a beta of 1.02. The stock’s 50 day moving average price is $42.46 and its 200-day moving average price is $38.66. Activision Blizzard has a one year low of $26.49 and a one year high of $45.12.
Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.03. Activision Blizzard had a return on equity of 14.49% and a net margin of 13.95%. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the business posted $0.13 EPS. The business’s revenue was up 112.0% compared to the same quarter last year. Equities analysts forecast that Activision Blizzard will post $1.99 EPS for the current year.
In other news, COO Thomas Tippl sold 44,427 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $41.83, for a total value of $1,858,381.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert J. Morgado sold 29,999 shares of the company’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $43.60, for a total value of $1,307,956.40. The disclosure for this sale can be found here. 25.23% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of ATVI. Calamos Advisors LLC bought a new stake in Activision Blizzard during the second quarter worth about $45,970,000. Zurich Insurance Group Ltd FI bought a new stake in Activision Blizzard during the first quarter worth about $2,998,000. Norinchukin Bank The raised its stake in Activision Blizzard by 2.7% in the second quarter. Norinchukin Bank The now owns 26,718 shares of the company’s stock worth $1,059,000 after buying an additional 692 shares during the period. Invictus RG raised its stake in Activision Blizzard by 1,548.1% in the first quarter. Invictus RG now owns 9,246 shares of the company’s stock worth $313,000 after buying an additional 8,685 shares during the period. Finally, Steinberg Global Asset Management raised its stake in Activision Blizzard by 61.5% in the first quarter. Steinberg Global Asset Management now owns 33,829 shares of the company’s stock worth $1,145,000 after buying an additional 12,884 shares during the period. Institutional investors and hedge funds 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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