Vetr Inc. Downgrades Activision Blizzard, Inc (ATVI) to Buy

Vetr lowered shares of Activision Blizzard, Inc (NASDAQ:ATVI) from a strong-buy rating to a buy rating in a research report released on Wednesday. They currently have $67.48 price target on the stock.

ATVI has been the topic of several other research reports. Jefferies Group LLC set a $55.00 price target on shares of Activision Blizzard and gave the company a buy rating in a research note on Thursday, March 16th. Robert W. Baird restated an outperform rating and issued a $47.00 price target on shares of Activision Blizzard in a research note on Sunday, April 2nd. MKM Partners restated a neutral rating and issued a $48.00 price target (up previously from $44.00) on shares of Activision Blizzard in a research note on Tuesday, May 2nd. Morgan Stanley raised their price target on shares of Activision Blizzard from $54.00 to $55.00 and gave the company an overweight rating in a research note on Monday, March 27th. Finally, Oppenheimer Holdings, Inc. restated an outperform rating and issued a $60.00 price target (up previously from $53.00) on shares of Activision Blizzard in a research note on Friday, May 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-two have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $59.78.

Shares of Activision Blizzard (NASDAQ:ATVI) opened at 60.50 on Wednesday. The firm has a 50-day moving average price of $58.42 and a 200-day moving average price of $48.26. Activision Blizzard has a one year low of $35.12 and a one year high of $61.58. The stock has a market cap of $45.60 billion, a price-to-earnings ratio of 44.39 and a beta of 1.07.

Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings results on Thursday, May 4th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.16 by $0.11. Activision Blizzard had a net margin of 14.63% and a return on equity of 16.90%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the business earned $0.23 earnings per share. Activision Blizzard’s revenue was up 31.7% compared to the same quarter last year. Analysts anticipate that Activision Blizzard will post $2.00 earnings per share for the current fiscal year.

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In other news, CEO Riccardo Zacconi sold 19,761 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $55.45, for a total transaction of $1,095,747.45. Following the transaction, the chief executive officer now owns 55,509 shares in the company, valued at approximately $3,077,974.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.12% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Gulf International Bank UK Ltd increased its position in shares of Activision Blizzard by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 183,044 shares of the company’s stock valued at $9,126,000 after buying an additional 2,600 shares during the period. Waverton Investment Management Ltd increased its position in shares of Activision Blizzard by 16.9% in the first quarter. Waverton Investment Management Ltd now owns 360,044 shares of the company’s stock valued at $17,952,000 after buying an additional 52,010 shares during the period. Raymond James Trust N.A. purchased a new position in shares of Activision Blizzard during the first quarter valued at approximately $235,000. Rathbone Brothers plc increased its position in shares of Activision Blizzard by 1.8% in the first quarter. Rathbone Brothers plc now owns 797,367 shares of the company’s stock valued at $39,757,000 after buying an additional 14,280 shares during the period. Finally, Chevy Chase Trust Holdings Inc. increased its position in shares of Activision Blizzard by 4.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 598,486 shares of the company’s stock valued at $29,841,000 after buying an additional 24,840 shares during the period. Hedge funds and other institutional investors own 87.45% of the company’s stock.

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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