Other equities research analysts have also recently issued reports about the company. Credit Suisse Group reduced their price target on Activision Blizzard from $65.00 to $64.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. SunTrust Banks upped their price target on Activision Blizzard from $52.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. KeyCorp reaffirmed an “overweight” rating and issued a $60.00 price target on shares of Activision Blizzard in a research note on Tuesday, July 30th. Wedbush reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Activision Blizzard in a research note on Friday, August 9th. Finally, MKM Partners reaffirmed a “neutral” rating and issued a $47.00 price target (up from $45.00) on shares of Activision Blizzard in a research note on Friday, August 9th. Eight investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $62.23.
Shares of ATVI stock opened at $55.12 on Tuesday. The stock has a market cap of $42.92 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 2.22 and a beta of 0.88. The business’s fifty day moving average is $50.30 and its 200 day moving average is $46.92. Activision Blizzard has a twelve month low of $39.85 and a twelve month high of $84.68. The company has a quick ratio of 3.43, a current ratio of 3.46 and a debt-to-equity ratio of 0.22.
In related news, insider Christopher B. Walther sold 5,333 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $50.83, for a total transaction of $271,076.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Brian M. Stolz sold 134,845 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $47.80, for a total value of $6,445,591.00. Following the sale, the insider now directly owns 58,563 shares in the company, valued at $2,799,311.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 156,844 shares of company stock worth $7,528,095. Insiders own 1.31% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Capital Investment Advisory Services LLC boosted its position in shares of Activision Blizzard by 189.5% during the second quarter. Capital Investment Advisory Services LLC now owns 553 shares of the company’s stock valued at $25,000 after buying an additional 362 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in shares of Activision Blizzard during the first quarter valued at $27,000. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Activision Blizzard during the second quarter valued at $29,000. Freestone Capital Holdings LLC purchased a new stake in shares of Activision Blizzard during the second quarter valued at $18,898,000. Finally, Thor Advisors LLC purchased a new stake in shares of Activision Blizzard during the first quarter valued at $40,000. 86.97% of the stock is currently owned by institutional investors.
About Activision Blizzard
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. It 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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