Activision Blizzard (ATVI) Now Covered by BTIG Research

BTIG Research assumed coverage on shares of Activision Blizzard (NASDAQ:ATVI) in a research note published on Monday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $80.00 price objective on the stock.

ATVI has been the topic of a number of other research reports. Stifel Nicolaus reaffirmed a buy rating on shares of Activision Blizzard in a research note on Sunday, September 10th. Wedbush set a $75.00 price objective on Activision Blizzard and gave the stock a buy rating in a research note on Thursday, October 26th. Piper Jaffray Companies reaffirmed an overweight rating and issued a $69.00 price objective on shares of Activision Blizzard in a research note on Friday, September 8th. Vetr raised Activision Blizzard from a hold rating to a buy rating and set a $64.58 price objective on the stock in a research note on Tuesday, October 10th. Finally, Zacks Investment Research raised Activision Blizzard from a hold rating to a strong-buy rating and set a $71.00 price objective on the stock in a research note on Friday, October 27th. Five research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $69.13.

Activision Blizzard (ATVI) traded up $0.70 during trading hours on Monday, reaching $65.08. The company’s stock had a trading volume of 3,362,700 shares, compared to its average volume of 6,727,689. The company has a current ratio of 2.25, a quick ratio of 2.22 and a debt-to-equity ratio of 0.44. Activision Blizzard has a 1-year low of $35.95 and a 1-year high of $67.40. The company has a market cap of $49,210.00, a P/E ratio of 29.26, a price-to-earnings-growth ratio of 2.23 and a beta of 1.03.

In related news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $63.64, for a total transaction of $1,257,590.04. Following the completion of the transaction, the chief executive officer now owns 41,435 shares in the company, valued at approximately $2,636,923.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.12% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cornerstone Advisors Inc. boosted its holdings in Activision Blizzard by 321.5% during the 3rd quarter. Cornerstone Advisors Inc. now owns 1,547 shares of the company’s stock valued at $100,000 after acquiring an additional 1,180 shares during the period. Grove Bank & Trust boosted its holdings in Activision Blizzard by 261.7% during the 3rd quarter. Grove Bank & Trust now owns 2,170 shares of the company’s stock valued at $140,000 after acquiring an additional 1,570 shares during the period. Bronfman E.L. Rothschild L.P. boosted its holdings in Activision Blizzard by 16.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,606 shares of the company’s stock valued at $150,000 after acquiring an additional 363 shares during the period. Phocas Financial Corp. purchased a new position in Activision Blizzard during the 2nd quarter valued at $173,000. Finally, BB&T Investment Services Inc. purchased a new position in Activision Blizzard during the 2nd quarter valued at $189,000. Institutional investors own 86.48% of the company’s stock.

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About Activision Blizzard

Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. The Company develops and distributes content and services across various gaming platforms, including video game consoles, personal computers (PC) and mobile devices. Its segments include Activision Publishing, Inc (Activision), Blizzard Entertainment, Inc (Blizzard), King Digital Entertainment (King) and Other.

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