TheStreet Downgrades Activision Blizzard (NASDAQ:ATVI) to C+

Activision Blizzard (NASDAQ:ATVIGet Rating) was downgraded by research analysts at TheStreet from a “b” rating to a “c+” rating in a research report issued on Wednesday, TheStreetRatingsTable reports.

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

Activision Blizzard Stock Up 2.3 %

Activision Blizzard stock opened at $77.03 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 6.18 and a quick ratio of 6.18. Activision Blizzard has a 1-year low of $56.40 and a 1-year high of $86.90. The company has a market cap 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 stock’s 50 day moving average price is $78.82 and its 200 day moving average price is $78.39.

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, beating analysts’ consensus estimates of $0.38 by $0.09. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.57 billion. Activision Blizzard had a return on equity of 10.22% and a net margin of 24.57%. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 earnings per share. On average, sell-side analysts predict that Activision Blizzard will post 2.44 EPS for the current fiscal year.

Insider Buying and Selling at Activision Blizzard

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

Institutional Trading of Activision Blizzard

Several hedge funds and other institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. raised its holdings in shares of Activision Blizzard by 12.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 114,084 shares of the company’s stock worth $7,590,000 after acquiring an additional 12,989 shares in the last quarter. Clearstead Advisors LLC raised its holdings in Activision Blizzard by 4.8% during the fourth quarter. Clearstead Advisors LLC now owns 3,544 shares of the company’s stock valued at $236,000 after buying an additional 163 shares in the last quarter. ETF Managers Group LLC raised its holdings in Activision Blizzard by 27.1% during the fourth quarter. ETF Managers Group LLC now owns 37,594 shares of the company’s stock valued at $2,537,000 after buying an additional 8,016 shares in the last quarter. Jag Capital Management LLC bought a new position in Activision Blizzard during the fourth quarter valued at about $333,000. Finally, William Allan LLC bought a new position in Activision Blizzard during the fourth quarter valued at about $432,000. Institutional investors and hedge funds own 78.78% of the company’s stock.

About Activision Blizzard

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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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