Activision Blizzard (ATVI) Downgraded to C+ at TheStreet

Activision Blizzard (NASDAQ:ATVI) was downgraded by research analysts at TheStreet from a “b” rating to a “c+” rating in a note issued to investors on Thursday.

Several other analysts have also issued reports on the company. Vetr upgraded Activision Blizzard from a “buy” rating to a “strong-buy” rating and set a $75.74 target price on the stock in a research note on Monday. Barclays set a $70.00 price objective on Activision Blizzard and gave the company a “hold” rating in a research note on Friday. Credit Suisse Group boosted their price objective on Activision Blizzard from $81.00 to $83.00 and gave the company an “outperform” rating in a research note on Friday. Robert W. Baird boosted their price objective on Activision Blizzard from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Wedbush set a $81.00 price objective on Activision Blizzard and gave the company a “buy” rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $71.75.

Shares of Activision Blizzard (NASDAQ ATVI) opened at $67.08 on Thursday. The stock has a market capitalization of $51,680.00, a price-to-earnings ratio of 191.66, a price-to-earnings-growth ratio of 1.81 and a beta of 1.11. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.25 and a quick ratio of 2.22. Activision Blizzard has a one year low of $38.93 and a one year high of $74.94.

Activision Blizzard (NASDAQ:ATVI) last issued its earnings results on Thursday, February 8th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.02. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.55 billion. Activision Blizzard had a return on equity of 17.37% and a net margin of 3.89%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 earnings per share. equities research analysts predict that Activision Blizzard will post 2.48 EPS for the current year.

In related news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction dated 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 directly owns 41,435 shares in the company, valued at $2,636,923.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.12% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Macquarie Group Ltd. boosted its holdings in shares of Activision Blizzard by 0.4% in the 2nd quarter. Macquarie Group Ltd. now owns 12,345 shares of the company’s stock worth $711,000 after purchasing an additional 45 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Activision Blizzard by 34.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 509,088 shares of the company’s stock worth $29,308,000 after purchasing an additional 129,556 shares in the last quarter. WINTON GROUP Ltd boosted its holdings in shares of Activision Blizzard by 13.5% in the 2nd quarter. WINTON GROUP Ltd now owns 425,331 shares of the company’s stock worth $24,486,000 after purchasing an additional 50,616 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Activision Blizzard by 97.1% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 8,600 shares of the company’s stock worth $495,000 after purchasing an additional 4,237 shares in the last quarter. Finally, Advisory Services Network LLC boosted its holdings in shares of Activision Blizzard by 142.7% in the 2nd quarter. Advisory Services Network LLC now owns 10,405 shares of the company’s stock worth $599,000 after purchasing an additional 6,117 shares in the last quarter. Hedge funds and other institutional investors own 86.04% of the company’s stock.

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Activision Blizzard Company Profile

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.

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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