Activision Blizzard (ATVI) Trading Down 9.4% Following Analyst Downgrade

Activision Blizzard, Inc. (NASDAQ:ATVI) shares were down 9.4% during trading on Friday after BMO Capital Markets lowered their price target on the stock from $52.00 to $2.60. BMO Capital Markets currently has a market perform rating on the stock. Activision Blizzard traded as low as $44.47 and last traded at $46.54. Approximately 35,421,837 shares were traded during mid-day trading, an increase of 196% from the average daily volume of 11,967,760 shares. The stock had previously closed at $51.35.

Other research analysts also recently issued research reports about the company. Stifel Nicolaus decreased their price objective on Activision Blizzard from $82.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, October 31st. BidaskClub upgraded Activision Blizzard from a “hold” rating to a “buy” rating in a report on Saturday, September 29th. Argus restated a “buy” rating and set a $90.00 price target (up previously from $81.00) on shares of Activision Blizzard in a report on Friday, September 21st. SunTrust Banks set a $85.00 price target on Activision Blizzard and gave the company a “buy” rating in a report on Wednesday, October 17th. Finally, BTIG Research boosted their price target on Activision Blizzard from $80.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, October 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $70.76.

Institutional investors have recently bought and sold shares of the business. Financial Enhancement Group LLC bought a new stake in shares of Activision Blizzard in the 3rd quarter worth approximately $575,000. Capital International Investors boosted its position in shares of Activision Blizzard by 233.8% in the 3rd quarter. Capital International Investors now owns 9,072,649 shares of the company’s stock worth $754,754,000 after purchasing an additional 6,354,412 shares in the last quarter. Riverhead Capital Management LLC boosted its position in shares of Activision Blizzard by 10.2% in the 3rd quarter. Riverhead Capital Management LLC now owns 12,599 shares of the company’s stock worth $1,048,000 after purchasing an additional 1,168 shares in the last quarter. Iridian Asset Management LLC CT boosted its position in shares of Activision Blizzard by 40.4% in the 3rd quarter. Iridian Asset Management LLC CT now owns 2,792,379 shares of the company’s stock worth $232,298,000 after purchasing an additional 803,888 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Activision Blizzard by 2.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 719,206 shares of the company’s stock worth $59,830,000 after purchasing an additional 16,360 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors and hedge funds.



The company has a debt-to-equity ratio of 0.25, a current ratio of 2.09 and a quick ratio of 2.01. The stock has a market capitalization of $38.79 billion, a P/E ratio of 22.70, a P/E/G ratio of 1.42 and a beta of 1.02.

Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings results on Thursday, November 8th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Activision Blizzard had a return on equity of 15.44% and a net margin of 8.07%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the firm earned $0.25 earnings per share. The business’s revenue for the quarter was down 12.6% compared to the same quarter last year. As a group, equities analysts anticipate that Activision Blizzard, Inc. will post 2.35 EPS for the current year.

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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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