Benchmark Lowers Activision Blizzard (ATVI) Price Target to $68.00

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Activision Blizzard (NASDAQ:ATVI) had its target price reduced by Benchmark from $87.00 to $68.00 in a report issued on Monday morning, MarketBeat.com reports. Benchmark currently has a buy rating on the stock.

A number of other analysts also recently issued reports on the company. ValuEngine downgraded Activision Blizzard from a hold rating to a sell rating in a research report on Friday, January 11th. Robert W. Baird lowered their target price on Activision Blizzard from $75.00 to $69.00 and set an outperform rating on the stock in a research report on Monday, January 14th. BidaskClub downgraded Activision Blizzard from a sell rating to a strong sell rating in a research report on Friday, November 16th. KeyCorp reaffirmed an overweight rating and issued a $80.00 target price (down previously from $85.00) on shares of Activision Blizzard in a research report on Friday, November 9th. Finally, Barclays reaffirmed a buy rating and issued a $59.00 target price on shares of Activision Blizzard in a research report on Sunday, January 13th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $66.68.

ATVI opened at $40.11 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.01 and a current ratio of 2.09. The stock has a market capitalization of $30.61 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 1.57 and a beta of 0.92. Activision Blizzard has a 1 year low of $39.85 and a 1 year high of $84.68.

Institutional investors have recently bought and sold shares of the stock. Steinberg Global Asset Management boosted its holdings in shares of Activision Blizzard by 8.8% during the fourth quarter. Steinberg Global Asset Management now owns 37,210 shares of the company’s stock worth $1,733,000 after acquiring an additional 3,008 shares during the period. Financial Enhancement Group LLC bought a new stake in shares of Activision Blizzard during the third quarter worth approximately $575,000. Capital International Investors boosted its holdings in shares of Activision Blizzard by 233.8% during the third quarter. Capital International Investors now owns 9,072,649 shares of the company’s stock worth $754,754,000 after acquiring an additional 6,354,412 shares during the period. Riverhead Capital Management LLC boosted its holdings in shares of Activision Blizzard by 10.2% during the third quarter. Riverhead Capital Management LLC now owns 12,599 shares of the company’s stock worth $1,048,000 after acquiring an additional 1,168 shares during the period. Finally, Iridian Asset Management LLC CT boosted its holdings in shares of Activision Blizzard by 40.4% during the third quarter. Iridian Asset Management LLC CT now owns 2,792,379 shares of the company’s stock worth $232,298,000 after acquiring an additional 803,888 shares during the period. Institutional investors and hedge funds own 90.62% of the company’s stock.

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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Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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