Activision Blizzard (ATVI) Rating Lowered to Hold at BidaskClub

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

Several other research analysts have also recently weighed in on the company. Benchmark decreased their target price on Activision Blizzard from $87.00 to $68.00 and set a buy rating for the company in a research note on Monday, February 11th. Morgan Stanley raised their target price on Activision Blizzard from $60.00 to $72.00 and gave the company an overweight rating in a research note on Thursday, January 24th. Wedbush set a $64.00 target price on Activision Blizzard and gave the company an outperform rating in a research note on Wednesday, January 23rd. Deutsche Bank initiated coverage on Activision Blizzard in a research note on Tuesday, January 22nd. They set a hold rating and a $54.00 target price for the company. Finally, BMO Capital Markets decreased their target price on Activision Blizzard from $45.00 to $40.00 and set a market perform rating for the company in a research note on Friday, February 15th. Thirteen research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $61.43.

Shares of ATVI stock opened at $42.29 on Wednesday. Activision Blizzard has a fifty-two week low of $39.85 and a fifty-two week high of $84.68. The stock has a market cap of $32.39 billion, a P/E ratio of 17.69, a PEG ratio of 2.16 and a beta of 0.83. The company has a quick ratio of 2.61, a current ratio of 2.63 and a debt-to-equity ratio of 0.23.



Activision Blizzard (NASDAQ:ATVI) last announced its earnings results on Thursday, May 2nd. The company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.13. Activision Blizzard had a return on equity of 16.19% and a net margin of 23.90%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter last year, the business posted $0.38 earnings per share. The company’s quarterly revenue was down 8.7% on a year-over-year basis. As a group, sell-side analysts predict that Activision Blizzard will post 1.99 EPS for the current fiscal year.

In related news, insider Christopher B. Walther sold 2,333 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $45.91, for a total value of $107,108.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert J. Morgado sold 15,000 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $42.91, for a total value of $643,650.00. The disclosure for this sale can be found here. Corporate insiders own 1.29% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. BB&T Corp increased its holdings in shares of Activision Blizzard by 13.2% during the 4th quarter. BB&T Corp now owns 172,552 shares of the company’s stock valued at $8,036,000 after acquiring an additional 20,082 shares during the last quarter. Baskin Financial Services Inc. lifted its stake in Activision Blizzard by 21.3% during the fourth quarter. Baskin Financial Services Inc. now owns 151,629 shares of the company’s stock worth $7,061,000 after purchasing an additional 26,632 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Activision Blizzard by 473.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,317,709 shares of the company’s stock worth $61,366,000 after purchasing an additional 1,087,867 shares during the last quarter. IFM Investors Pty Ltd lifted its stake in Activision Blizzard by 9.6% during the fourth quarter. IFM Investors Pty Ltd now owns 41,890 shares of the company’s stock worth $1,951,000 after purchasing an additional 3,672 shares during the last quarter. Finally, Sumitomo Life Insurance Co. lifted its stake in Activision Blizzard by 2.5% during the fourth quarter. Sumitomo Life Insurance Co. now owns 32,489 shares of the company’s stock worth $1,513,000 after purchasing an additional 785 shares during the last quarter. 83.25% of the stock is owned by hedge funds and other institutional investors.

About Activision Blizzard

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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