Several other equities research analysts have also recently issued reports on the stock. Bank of America set a $62.00 target price on shares of Activision Blizzard and gave the stock a buy rating in a report on Friday, October 18th. Zacks Investment Research cut shares of Activision Blizzard from a buy rating to a hold rating and set a $60.00 target price on the stock. in a report on Tuesday, November 12th. BMO Capital Markets raised their target price on shares of Activision Blizzard from $60.00 to $65.00 and gave the stock an outperform rating in a report on Monday, November 4th. Argus restated a focus list rating on shares of Activision Blizzard in a report on Friday, November 15th. Finally, Needham & Company LLC restated a buy rating and issued a $62.00 target price on shares of Activision Blizzard in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Activision Blizzard currently has an average rating of Buy and an average price target of $60.96.
NASDAQ:ATVI opened at $61.24 on Friday. Activision Blizzard has a 52 week low of $39.85 and a 52 week high of $61.28. The company has a quick ratio of 3.38, a current ratio of 3.43 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average price is $58.47 and its 200-day moving average price is $53.38. The stock has a market cap of $47.05 billion, a price-to-earnings ratio of 29.02, a PEG ratio of 2.02 and a beta of 0.83.
Activision Blizzard (NASDAQ:ATVI) last issued its earnings results on Thursday, November 7th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.09. Activision Blizzard had a net margin of 23.66% and a return on equity of 13.91%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the company posted $0.52 earnings per share. The firm’s quarterly revenue was down 27.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Activision Blizzard will post 2.02 earnings per share for the current year.
In other news, COO Collister Johnson sold 3,800 shares of Activision Blizzard stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $52.43, for a total transaction of $199,234.00. Following the transaction, the chief operating officer now owns 280,983 shares in the company, valued at approximately $14,731,938.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.31% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Manchester Financial Inc. bought a new stake in shares of Activision Blizzard during the 4th quarter valued at $25,000. B & T Capital Management DBA Alpha Capital Management purchased a new position in shares of Activision Blizzard in the 3rd quarter worth $28,000. Massey Quick Simon & CO. LLC purchased a new position in shares of Activision Blizzard during the 3rd quarter worth about $29,000. Quantum Capital Management purchased a new position in shares of Activision Blizzard during the 3rd quarter worth about $33,000. Finally, Coastal Investment Advisors Inc. purchased a new position in shares of Activision Blizzard during the 3rd quarter worth about $37,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.
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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