Activision Blizzard (NASDAQ:ATVI) Downgraded by TheStreet

Activision Blizzard (NASDAQ:ATVIGet Rating) was downgraded by research analysts at TheStreet from a “b” rating to a “c+” rating in a note issued to investors on Wednesday, TheStreetRatingsTable reports.

A number of other research firms have also recently commented on ATVI. Moffett Nathanson upgraded shares of Activision Blizzard from a “neutral” rating to a “buy” rating and set a $95.00 price target for the company in a report on Wednesday, August 3rd. Atlantic Securities upgraded shares of Activision Blizzard from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $95.00 to $84.00 in a report on Thursday, September 15th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Activision Blizzard from $95.00 to $84.00 in a report on Thursday, August 4th. Fifteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $93.58.

Activision Blizzard Stock Performance

Shares of Activision Blizzard stock opened at $77.03 on Wednesday. Activision Blizzard has a fifty-two week low of $56.40 and a fifty-two week high of $86.90. The company has a debt-to-equity ratio of 0.20, a current ratio of 6.18 and a quick ratio of 6.18. The firm has a market capitalization of $60.26 billion, a P/E ratio of 32.10, a P/E/G ratio of 3.23 and a beta of 0.51. The company’s 50 day moving average price is $78.82 and its two-hundred day moving average price is $78.39.

Activision Blizzard (NASDAQ:ATVIGet Rating) last issued its earnings results on Monday, August 1st. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.09. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.57 billion. Activision Blizzard had a net margin of 24.57% and a return on equity of 10.22%. The company’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter last year, the business posted $0.86 earnings per share. On average, equities analysts forecast that Activision Blizzard will post 2.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Daniel Alegre sold 10,000 shares of Activision Blizzard stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $78.16, for a total transaction of $781,600.00. Following the sale, the chief operating officer now owns 176,690 shares in the company, valued at $13,810,090.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, COO Daniel Alegre sold 10,000 shares of Activision Blizzard stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $78.16, for a total transaction of $781,600.00. Following the sale, the chief operating officer now owns 176,690 shares in the company, valued at $13,810,090.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Armin Zerza sold 10,174 shares of Activision Blizzard stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $80.22, for a total transaction of $816,158.28. Following the sale, the chief financial officer now owns 186,117 shares in the company, valued at approximately $14,930,305.74. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Loomis Sayles & Co. L P grew its holdings in shares of Activision Blizzard by 9.1% in the fourth quarter. Loomis Sayles & Co. L P now owns 21,917 shares of the company’s stock valued at $1,458,000 after purchasing an additional 1,825 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in Activision Blizzard by 1.1% during the first quarter. Mutual of America Capital Management LLC now owns 103,969 shares of the company’s stock worth $8,329,000 after buying an additional 1,133 shares during the period. Ellevest Inc. boosted its stake in Activision Blizzard by 28.0% during the first quarter. Ellevest Inc. now owns 2,946 shares of the company’s stock worth $236,000 after buying an additional 645 shares during the period. IFM Investors Pty Ltd boosted its stake in Activision Blizzard by 23.1% during the first quarter. IFM Investors Pty Ltd now owns 123,121 shares of the company’s stock worth $9,863,000 after buying an additional 23,119 shares during the period. Finally, Aviva PLC boosted its stake in Activision Blizzard by 2.7% during the first quarter. Aviva PLC now owns 269,056 shares of the company’s stock worth $21,554,000 after buying an additional 7,104 shares during the period. 78.78% of the stock is owned by hedge funds and other institutional investors.

About Activision Blizzard

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Activision Blizzard, Inc, together with its subsidiaries, develops and publishes interactive entertainment content and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Activision, Blizzard, and King. It develops and distributes content and services on video game consoles, personal computers, and mobile devices, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies that distribute Activision and Blizzard products.

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