Activision Blizzard (NASDAQ:ATVI) Lowered to Sell at ValuEngine

Activision Blizzard (NASDAQ:ATVI) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Monday, April 1st, ValuEngine reports.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird reduced their price target on Activision Blizzard from $75.00 to $69.00 and set an “outperform” rating on the stock in a research note on Monday, January 14th. Barclays reaffirmed a “buy” rating and issued a $59.00 price target on shares of Activision Blizzard in a research note on Sunday, January 13th. Benchmark cut their target price on Activision Blizzard from $87.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, February 11th. MKM Partners cut their target price on Activision Blizzard to $48.00 and set a “neutral” rating on the stock in a research note on Monday, January 14th. Finally, Piper Jaffray Companies cut their target price on Activision Blizzard to $57.00 and set an “overweight” rating on the stock in a research note on Friday, December 21st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nineteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $62.04.

Shares of ATVI traded up $0.74 during trading hours on Monday, reaching $48.15. 5,855,817 shares of the company’s stock traded hands, compared to its average volume of 11,697,017. The company has a market cap of $36.21 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 2.34 and a beta of 0.83. Activision Blizzard has a 12 month low of $39.85 and a 12 month high of $84.68. The company has a current ratio of 2.31, a quick ratio of 2.29 and a debt-to-equity ratio of 0.24.

Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings data on Tuesday, February 12th. The company reported $1.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.08. Activision Blizzard had a return on equity of 17.55% and a net margin of 24.16%. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. As a group, analysts predict that Activision Blizzard will post 1.97 earnings per share for the current year.

In related news, Director Robert J. Morgado sold 15,000 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $42.91, for a total transaction of $643,650.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.29% of the company’s stock.

Several hedge funds have recently modified their holdings of ATVI. Massey Quick Simon & CO. LLC purchased a new position in shares of Activision Blizzard in the 1st quarter valued at $25,000. Capital Investment Advisory Services LLC purchased a new position in shares of Activision Blizzard in the 4th quarter valued at $37,000. Lindbrook Capital LLC purchased a new position in shares of Activision Blizzard in the 4th quarter valued at $37,000. Pearl River Capital LLC purchased a new position in shares of Activision Blizzard in the 4th quarter valued at $41,000. Finally, Ipswich Investment Management Co. Inc. purchased a new position in Activision Blizzard during the 4th quarter worth $45,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

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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