Activision Blizzard (NASDAQ:ATVI)‘s stock had its “outperform” rating reissued by Wedbush in a research note issued to investors on Tuesday, RTT News reports. They presently have a $56.00 price objective on the stock. Wedbush’s price target points to a potential upside of 30.51% from the company’s previous close.
Several other equities analysts have also recently weighed in on ATVI. William Blair reiterated an “outperform” rating on shares of Activision Blizzard in a research note on Friday, May 3rd. Zacks Investment Research cut shares of Activision Blizzard from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. ValuEngine cut shares of Activision Blizzard from a “hold” rating to a “sell” rating in a research note on Monday, April 1st. Robert W. Baird lowered their price objective on shares of Activision Blizzard from $69.00 to $58.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 13th. Finally, BidaskClub upgraded shares of Activision Blizzard from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th. Thirteen research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Activision Blizzard currently has a consensus rating of “Buy” and a consensus price target of $61.43.
ATVI opened at $42.91 on Tuesday. The company has a current ratio of 2.63, a quick ratio of 2.61 and a debt-to-equity ratio of 0.23. The stock has a market cap of $35.54 billion, a price-to-earnings ratio of 17.95, a P/E/G ratio of 2.30 and a beta of 0.83. Activision Blizzard has a 52-week low of $39.85 and a 52-week high of $84.68.
Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.13. Activision Blizzard had a net margin of 23.90% and a return on equity of 16.19%. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the business earned $0.38 EPS. The business’s quarterly revenue was down 8.7% on a year-over-year basis. As a group, analysts expect that Activision Blizzard will post 1.99 EPS for the current year.
In other news, Director Robert J. Morgado sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $42.91, for a total transaction of $643,650.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher B. Walther sold 2,333 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $45.91, for a total value of $107,108.03. The disclosure for this sale can be found here. Company insiders own 1.29% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Steinberg Global Asset Management boosted its position in shares of Activision Blizzard by 8.8% during the 4th quarter. Steinberg Global Asset Management now owns 37,210 shares of the company’s stock valued at $1,733,000 after acquiring an additional 3,008 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in Activision Blizzard in the fourth quarter worth $4,634,000. Probity Advisors Inc. bought a new stake in Activision Blizzard in the fourth quarter worth $362,000. Maplelane Capital LLC bought a new stake in Activision Blizzard in the fourth quarter worth $11,550,000. Finally, Edge Wealth Management LLC lifted its position in Activision Blizzard by 2,163.8% in the first quarter. Edge Wealth Management LLC now owns 2,626 shares of the company’s stock worth $119,000 after buying an additional 2,510 shares during the last quarter. Hedge funds and other institutional investors own 87.71% 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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