Activision Blizzard (NASDAQ:ATVI) Stock Rating Upgraded by BidaskClub

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

Several other equities analysts have also recently weighed in on ATVI. Stephens cut Activision Blizzard from an overweight rating to an equal weight rating and cut their price objective for the company from $57.00 to $52.00 in a report on Wednesday, May 22nd. Morgan Stanley reiterated an overweight rating and set a $57.00 price objective (up previously from $55.00) on shares of Activision Blizzard in a report on Friday, August 9th. TheStreet upgraded Activision Blizzard from a c+ rating to a b- rating in a report on Tuesday, August 13th. Wedbush reiterated an outperform rating and set a $60.00 price objective on shares of Activision Blizzard in a report on Friday, August 9th. Finally, Jefferies Financial Group assumed coverage on Activision Blizzard in a report on Thursday, July 11th. They set a buy rating and a $56.00 price objective on the stock. Eleven analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $59.68.

NASDAQ:ATVI opened at $47.33 on Thursday. Activision Blizzard has a fifty-two week low of $39.85 and a fifty-two week high of $84.68. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.46 and a quick ratio of 3.43. The stock has a market capitalization of $37.65 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 1.95 and a beta of 0.90. The business’s 50-day simple moving average is $47.41 and its 200-day simple moving average is $45.75.

Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.14. Activision Blizzard had a return on equity of 15.54% and a net margin of 23.69%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the business posted $0.41 EPS. Activision Blizzard’s revenue for the quarter was down 12.9% on a year-over-year basis. On average, research analysts expect that Activision Blizzard will post 2 earnings per share for the current year.

In other Activision Blizzard news, insider Brian M. Stolz sold 134,845 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $47.80, for a total transaction of $6,445,591.00. Following the transaction, the insider now owns 58,563 shares of the company’s stock, valued at approximately $2,799,311.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher B. Walther sold 2,333 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $44.00, for a total value of $102,652.00. The disclosure for this sale can be found here. In the last three months, insiders sold 153,844 shares of company stock worth $7,359,670. 1.29% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of ATVI. Nuveen Asset Management LLC acquired a new position in shares of Activision Blizzard during the 2nd quarter worth approximately $422,191,000. Ruffer LLP acquired a new position in shares of Activision Blizzard during the 2nd quarter worth approximately $160,765,000. Viking Global Investors LP increased its position in shares of Activision Blizzard by 61.1% during the 2nd quarter. Viking Global Investors LP now owns 7,908,859 shares of the company’s stock worth $373,298,000 after purchasing an additional 2,999,492 shares during the last quarter. Manning & Napier Group LLC acquired a new position in shares of Activision Blizzard during the 2nd quarter worth approximately $118,438,000. Finally, Amundi Pioneer Asset Management Inc. increased its position in shares of Activision Blizzard by 175.6% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 2,832,896 shares of the company’s stock worth $800,585,000 after purchasing an additional 1,805,029 shares during the last quarter. 85.72% of the stock is currently 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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