Investors Buy Shares of Activision Blizzard (ATVI) on Weakness

Traders purchased shares of Activision Blizzard, Inc. (NASDAQ:ATVI) on weakness during trading on Thursday. $89.55 million flowed into the stock on the tick-up and $57.74 million flowed out of the stock on the tick-down, for a money net flow of $31.81 million into the stock. Of all stocks tracked, Activision Blizzard had the 29th highest net in-flow for the day. Activision Blizzard traded down ($0.56) for the day and closed at $69.80

A number of analysts recently issued reports on the company. Sanford C. Bernstein assumed coverage on Activision Blizzard in a research report on Thursday. They issued a “market perform” rating and a $74.00 target price on the stock. BidaskClub raised Activision Blizzard from a “hold” rating to a “buy” rating in a research report on Tuesday. Vetr downgraded Activision Blizzard from a “buy” rating to a “hold” rating and set a $69.64 target price on the stock. in a research report on Thursday, January 11th. Zacks Investment Research downgraded Activision Blizzard from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, Wedbush set a $75.00 target price on Activision Blizzard and gave the company a “buy” rating in a research report on Thursday, January 11th. Seven equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Activision Blizzard currently has a consensus rating of “Buy” and a consensus price target of $70.04.

The firm has a market capitalization of $52,780.00, a price-to-earnings ratio of 47.81, a PEG ratio of 2.01 and a beta of 1.02. The company has a quick ratio of 2.22, a current ratio of 2.25 and a debt-to-equity ratio of 0.44.

Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.11. Activision Blizzard had a return on equity of 17.56% and a net margin of 15.90%. research analysts anticipate that Activision Blizzard, Inc. will post 2.1 earnings per share for the current year.

In other news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $63.64, for a total transaction of $1,257,590.04. Following the completion of the sale, the chief executive officer now owns 41,435 shares in the company, valued at $2,636,923.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.12% of the company’s stock.

Large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Activision Blizzard by 39.0% during the second quarter. The Manufacturers Life Insurance Company now owns 1,101,771 shares of the company’s stock worth $63,430,000 after acquiring an additional 309,181 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in shares of Activision Blizzard by 94.4% during the third quarter. Oppenheimer & Co. Inc. now owns 66,349 shares of the company’s stock worth $4,280,000 after acquiring an additional 32,224 shares during the period. Quantitative Systematic Strategies LLC bought a new stake in shares of Activision Blizzard during the third quarter worth approximately $881,000. State Board of Administration of Florida Retirement System boosted its holdings in shares of Activision Blizzard by 3.5% during the third quarter. State Board of Administration of Florida Retirement System now owns 1,005,178 shares of the company’s stock worth $64,844,000 after acquiring an additional 34,070 shares during the period. Finally, Highstreet Asset Management Inc. boosted its holdings in shares of Activision Blizzard by 23.6% during the third quarter. Highstreet Asset Management Inc. now owns 11,282 shares of the company’s stock worth $728,000 after acquiring an additional 2,151 shares during the period. Institutional investors own 86.49% of the company’s stock.

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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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