Activision Blizzard (NASDAQ:ATVI) Lowered to C+ at TheStreet

TheStreet cut shares of Activision Blizzard (NASDAQ:ATVIGet Rating) from a b rating to a c+ rating in a research report report published on Wednesday morning, TheStreetRatingsTable reports.

ATVI has been the topic of a number of other research reports. Atlantic Securities raised shares of Activision Blizzard from a neutral rating to an overweight rating and lowered their target price for the company from $95.00 to $84.00 in a report on Thursday, September 15th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Activision Blizzard from $95.00 to $84.00 in a research report on Thursday, August 4th. Finally, Moffett Nathanson upgraded shares of Activision Blizzard from a neutral rating to a buy rating and set a $95.00 price target for the company in a research report on Wednesday, August 3rd. Fifteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $93.58.

Activision Blizzard Trading Up 2.3 %

NASDAQ:ATVI opened at $77.03 on Wednesday. The company has a current ratio of 6.18, a quick ratio of 6.18 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $60.26 billion, a PE ratio of 32.10, a price-to-earnings-growth ratio of 3.23 and a beta of 0.51. The firm’s 50 day moving average is $78.82 and its 200 day moving average is $78.39. Activision Blizzard has a 12 month low of $56.40 and a 12 month high of $86.90.

Activision Blizzard (NASDAQ:ATVIGet Rating) last posted its quarterly earnings results on Monday, August 1st. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.09. Activision Blizzard had a net margin of 24.57% and a return on equity of 10.22%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the firm posted $0.86 EPS. Activision Blizzard’s revenue was down 14.6% on a year-over-year basis. Sell-side analysts expect that Activision Blizzard will post 2.44 earnings per share for the current year.

Insider Activity

In other news, CFO Armin Zerza sold 10,174 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $80.22, for a total transaction of $816,158.28. Following the completion of the transaction, the chief financial officer now directly owns 186,117 shares of the company’s stock, valued at $14,930,305.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, COO Daniel Alegre sold 10,000 shares of the stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $78.16, for a total value of $781,600.00. Following the completion of the transaction, the chief operating officer now directly owns 176,690 shares of the company’s stock, valued at $13,810,090.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $816,158.28. Following the completion of the sale, the chief financial officer now owns 186,117 shares in the company, valued at approximately $14,930,305.74. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Activision Blizzard

A number of hedge funds and other institutional investors have recently bought and sold shares of ATVI. Capital International Investors grew its holdings in Activision Blizzard by 57.2% in the fourth quarter. Capital International Investors now owns 39,139,403 shares of the company’s stock worth $2,604,167,000 after purchasing an additional 14,244,622 shares during the period. Bank of Nova Scotia grew its holdings in Activision Blizzard by 1,509.2% in the first quarter. Bank of Nova Scotia now owns 12,149,494 shares of the company’s stock worth $973,295,000 after purchasing an additional 11,394,496 shares during the period. Norges Bank purchased a new stake in shares of Activision Blizzard during the fourth quarter valued at approximately $507,115,000. Capital World Investors grew its holdings in shares of Activision Blizzard by 23.8% during the fourth quarter. Capital World Investors now owns 31,818,816 shares of the company’s stock valued at $2,116,906,000 after buying an additional 6,120,230 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Activision Blizzard by 39.8% during the second quarter. FMR LLC now owns 19,689,007 shares of the company’s stock valued at $1,532,987,000 after buying an additional 5,605,802 shares during the last quarter. Hedge funds and other institutional investors own 78.78% 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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