Traders purchased shares of Activision Blizzard, Inc. (NASDAQ:ATVI) on weakness during trading hours on Tuesday. $98.96 million flowed into the stock on the tick-up and $59.17 million flowed out of the stock on the tick-down, for a money net flow of $39.79 million into the stock. Of all companies tracked, Activision Blizzard had the 30th highest net in-flow for the day. Activision Blizzard traded down ($0.07) for the day and closed at $80.53
Several research analysts have commented on the company. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $88.00 price target on shares of Activision Blizzard in a research report on Wednesday. Argus reaffirmed a “buy” rating and set a $90.00 price target (up previously from $81.00) on shares of Activision Blizzard in a research report on Friday, September 21st. Robert W. Baird lifted their price target on Activision Blizzard from $81.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, September 13th. BidaskClub raised Activision Blizzard from a “sell” rating to a “hold” rating in a research report on Wednesday, September 12th. Finally, Bank of America lowered Activision Blizzard from a “buy” rating to a “neutral” rating and cut their price target for the stock from $84.00 to $77.00 in a research report on Friday, August 31st. Nine equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $79.90.
The firm has a market cap of $61.40 billion, a PE ratio of 39.79, a P/E/G ratio of 2.15 and a beta of 0.87. The company has a quick ratio of 2.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.42.
Activision Blizzard (NASDAQ:ATVI) last released its earnings results on Thursday, August 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.11. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.38 billion. Activision Blizzard had a return on equity of 18.00% and a net margin of 6.96%. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 earnings per share. research analysts anticipate that Activision Blizzard, Inc. will post 2.49 earnings per share for the current fiscal year.
In other news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $68.70, for a total value of $1,357,580.70. Following the transaction, the chief executive officer now owns 20,324 shares of the company’s stock, valued at $1,396,258.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.29% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Activision Blizzard by 16.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,524 shares of the company’s stock valued at $345,000 after buying an additional 634 shares in the last quarter. Wetherby Asset Management Inc. boosted its stake in shares of Activision Blizzard by 7.8% in the second quarter. Wetherby Asset Management Inc. now owns 9,385 shares of the company’s stock valued at $716,000 after buying an additional 680 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Activision Blizzard by 2.4% in the first quarter. Thrivent Financial for Lutherans now owns 31,554 shares of the company’s stock valued at $2,129,000 after buying an additional 729 shares in the last quarter. Mission Wealth Management LP boosted its stake in shares of Activision Blizzard by 13.5% in the second quarter. Mission Wealth Management LP now owns 6,174 shares of the company’s stock valued at $471,000 after buying an additional 732 shares in the last quarter. Finally, Peregrine Capital Management LLC boosted its stake in shares of Activision Blizzard by 0.3% in the second quarter. Peregrine Capital Management LLC now owns 243,301 shares of the company’s stock valued at $18,569,000 after buying an additional 735 shares in the last quarter. 87.01% of the stock is currently owned by institutional investors and hedge funds.
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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