Activision Blizzard (NASDAQ:ATVI) Lifted to “Buy” at BidaskClub

BidaskClub upgraded shares of Activision Blizzard (NASDAQ:ATVI) from a hold rating to a buy rating in a report issued on Thursday morning, BidAskClub reports.

Other analysts have also recently issued reports about the stock. Stephens cut shares of Activision Blizzard from an overweight rating to an equal weight rating and lowered their target price for the stock from $57.00 to $52.00 in a research note on Wednesday, May 22nd. Goldman Sachs Group upgraded shares of Activision Blizzard from a neutral rating to a buy rating and lifted their target price for the stock from $50.00 to $54.00 in a research note on Tuesday, May 28th. Piper Jaffray Companies reiterated an overweight rating on shares of Activision Blizzard in a research note on Monday, April 22nd. Citigroup began coverage on shares of Activision Blizzard in a research note on Friday, June 7th. They issued a neutral rating and a $47.00 target price for the company. Finally, Jefferies Financial Group began coverage on shares of Activision Blizzard in a research note on Thursday, July 11th. They issued a buy rating and a $56.00 target price for the company. Eleven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Activision Blizzard has an average rating of Buy and a consensus price target of $60.20.

Shares of NASDAQ:ATVI traded down $1.17 during trading on Thursday, reaching $49.02. The stock had a trading volume of 8,984,399 shares, compared to its average volume of 9,567,045. Activision Blizzard has a one year low of $39.85 and a one year high of $84.68. The firm has a market cap of $36.99 billion, a P/E ratio of 20.51, a P/E/G ratio of 2.41 and a beta of 0.90. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.63 and a quick ratio of 2.61. The stock has a 50-day moving average of $46.94.

Activision Blizzard (NASDAQ:ATVI) last released its earnings results on Thursday, May 2nd. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.13. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Activision Blizzard had a net margin of 23.90% and a return on equity of 16.19%. Activision Blizzard’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same period last year, the business earned $0.38 EPS. As a group, analysts forecast that Activision Blizzard will post 1.97 earnings per share for the current year.

In other news, insider Christopher B. Walther sold 11,333 shares of Activision Blizzard stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $47.91, for a total transaction of $542,964.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher B. Walther sold 2,333 shares of Activision Blizzard stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $44.00, for a total transaction of $102,652.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,999 shares of company stock valued at $752,724. Company insiders own 1.29% of the company’s stock.

Several large investors have recently bought and sold shares of the company. HL Financial Services LLC increased its holdings in shares of Activision Blizzard by 3.9% during the 1st quarter. HL Financial Services LLC now owns 5,746 shares of the company’s stock valued at $262,000 after purchasing an additional 216 shares in the last quarter. Cornerstone Advisors Inc. increased its holdings in shares of Activision Blizzard by 13.1% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,972 shares of the company’s stock valued at $93,000 after purchasing an additional 229 shares in the last quarter. Regentatlantic Capital LLC increased its holdings in shares of Activision Blizzard by 4.5% during the 1st quarter. Regentatlantic Capital LLC now owns 5,971 shares of the company’s stock valued at $272,000 after purchasing an additional 257 shares in the last quarter. Dowling & Yahnke LLC increased its holdings in shares of Activision Blizzard by 1.0% during the 2nd quarter. Dowling & Yahnke LLC now owns 26,404 shares of the company’s stock valued at $1,246,000 after purchasing an additional 258 shares in the last quarter. Finally, Lindbrook Capital LLC increased its holdings in shares of Activision Blizzard by 33.9% during the 1st quarter. Lindbrook Capital LLC now owns 1,083 shares of the company’s stock valued at $49,000 after purchasing an additional 274 shares in the last quarter. 86.58% 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. 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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Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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