Activision Blizzard (ATVI) Sets New 52-Week Low at $46.66

Activision Blizzard, Inc. (NASDAQ:ATVI) reached a new 52-week low during trading on Monday . The stock traded as low as $46.66 and last traded at $46.49, with a volume of 1782746 shares trading hands. The stock had previously closed at $49.88.

Several research firms have commented on ATVI. Barclays upgraded shares of Activision Blizzard from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $79.00 to $86.00 in a research note on Monday, October 15th. MKM Partners decreased their price objective on shares of Activision Blizzard to $71.00 and set a “neutral” rating for the company in a research note on Tuesday, October 30th. Bank of America decreased their price objective on shares of Activision Blizzard from $77.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday, November 9th. Zacks Investment Research lowered shares of Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Finally, Jefferies Financial Group set a $85.00 price objective on shares of Activision Blizzard and gave the company a “buy” rating in a research note on Saturday, November 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $75.99.

The stock has a market cap of $38.06 billion, a price-to-earnings ratio of 22.73, a P/E/G ratio of 1.55 and a beta of 1.06. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.01 and a current ratio of 2.09.

Activision Blizzard (NASDAQ:ATVI) last released its earnings results on Thursday, November 8th. The company reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.03). Activision Blizzard had a net margin of 8.07% and a return on equity of 15.44%. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the company earned $0.25 earnings per share. The firm’s revenue was down 12.6% on a year-over-year basis. As a group, equities analysts anticipate that Activision Blizzard, Inc. will post 2.36 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the company. Asset Advisors Investment Management LLC bought a new position in shares of Activision Blizzard during the 3rd quarter valued at approximately $100,000. Ashburton Jersey Ltd bought a new position in Activision Blizzard in the 2nd quarter worth approximately $107,000. Quad Cities Investment Group LLC bought a new position in Activision Blizzard in the 2nd quarter worth approximately $114,000. NuWave Investment Management LLC bought a new position in Activision Blizzard in the 2nd quarter worth approximately $121,000. Finally, Psagot Investment House Ltd. bought a new position in Activision Blizzard in the 3rd quarter worth approximately $135,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

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Activision Blizzard Company Profile (NASDAQ:ATVI)

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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