Activision Blizzard (NASDAQ:ATVI) Lifted to Buy at Moffett Nathanson

Moffett Nathanson upgraded shares of Activision Blizzard (NASDAQ:ATVIGet Rating) from a neutral rating to a buy rating in a report published on Wednesday morning. They currently have $95.00 target price on the stock.

Separately, Jefferies Financial Group restated a buy rating and issued a $95.00 price target on shares of Activision Blizzard in a research note on Wednesday, April 27th. Eighteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $94.73.

Activision Blizzard Stock Down 0.2 %

ATVI stock opened at $80.49 on Wednesday. Activision Blizzard has a 1-year low of $56.40 and a 1-year high of $86.90. The business has a fifty day moving average price of $77.80 and a 200-day moving average price of $78.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 6.18 and a quick ratio of 5.45. The stock has a market capitalization of $62.97 billion, a P/E ratio of 33.54, a P/E/G ratio of 3.51 and a beta of 0.51.

Activision Blizzard (NASDAQ:ATVIGet Rating) last posted its quarterly earnings results on Monday, August 1st. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.09. Activision Blizzard had a return on equity of 10.22% and a net margin of 24.57%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the business earned $0.86 earnings per share. The company’s revenue was down 14.6% on a year-over-year basis. Equities analysts forecast that Activision Blizzard will post 2.42 earnings per share for the current fiscal year.

Insider Transactions at Activision Blizzard

In other news, CFO Armin Zerza sold 10,174 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $80.22, for a total value of $816,158.28. Following the completion of the transaction, the chief financial officer now owns 186,117 shares of the company’s stock, valued at $14,930,305.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Activision Blizzard

Hedge funds have recently made changes to their positions in the business. Loomis Sayles & Co. L P boosted its stake in shares of Activision Blizzard by 9.1% in the fourth quarter. Loomis Sayles & Co. L P now owns 21,917 shares of the company’s stock worth $1,458,000 after acquiring an additional 1,825 shares during the period. Mutual of America Capital Management LLC lifted its position in shares of Activision Blizzard by 1.1% in the first quarter. Mutual of America Capital Management LLC now owns 103,969 shares of the company’s stock worth $8,329,000 after buying an additional 1,133 shares in the last quarter. Ellevest Inc. lifted its position in shares of Activision Blizzard by 28.0% in the first quarter. Ellevest Inc. now owns 2,946 shares of the company’s stock worth $236,000 after buying an additional 645 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Activision Blizzard by 6.4% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 405,877 shares of the company’s stock worth $27,364,000 after buying an additional 24,389 shares in the last quarter. Finally, IFM Investors Pty Ltd lifted its position in shares of Activision Blizzard by 23.1% in the first quarter. IFM Investors Pty Ltd now owns 123,121 shares of the company’s stock worth $9,863,000 after buying an additional 23,119 shares in the last quarter. Institutional investors own 83.11% of the company’s stock.

Activision Blizzard Company Profile

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Activision Blizzard, Inc, together with its subsidiaries, develops and publishes interactive entertainment content and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Activision, Blizzard, and King. It develops and distributes content and services on video game consoles, personal computers, and mobile devices, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies that distribute Activision and Blizzard products.

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