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

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

Other research analysts have also recently issued research reports about the stock. Atlantic Securities upgraded 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 research note on Thursday, September 15th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Activision Blizzard from $95.00 to $84.00 in a research note 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 on the stock in a research note on Wednesday, August 3rd. Fifteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $93.58.

Activision Blizzard Trading Up 2.3 %

Shares of ATVI stock opened at $77.03 on Wednesday. Activision Blizzard has a 1 year low of $56.40 and a 1 year high of $86.90. The firm has a fifty day moving average price of $78.82 and a 200-day moving average price of $78.39. The company has a debt-to-equity ratio of 0.20, a current ratio of 6.18 and a quick ratio of 6.18. The company has a market cap of $60.26 billion, a price-to-earnings ratio of 32.10, a PEG ratio of 3.23 and a beta of 0.51.

Activision Blizzard (NASDAQ:ATVIGet Rating) last released its 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. 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 company earned $0.86 EPS. Activision Blizzard’s revenue for the quarter was down 14.6% on a year-over-year basis. As a group, equities analysts predict that Activision Blizzard will post 2.44 earnings per share for the current year.

Insiders Place Their Bets

In other Activision Blizzard news, COO Daniel Alegre sold 10,000 shares of the company’s 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 transaction, the chief operating officer now directly owns 176,690 shares in the company, valued at approximately $13,810,090.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Armin Zerza sold 10,174 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $80.22, for a total value of $816,158.28. Following the completion of the sale, the chief financial officer now owns 186,117 shares of the company’s stock, valued at approximately $14,930,305.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, the chief operating officer now directly owns 176,690 shares of the company’s stock, valued at approximately $13,810,090.40. 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

Several hedge funds have recently modified their holdings of ATVI. Rockefeller Capital Management L.P. lifted its position in Activision Blizzard by 12.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 114,084 shares of the company’s stock valued at $7,590,000 after acquiring an additional 12,989 shares during the last quarter. Clearstead Advisors LLC lifted its position 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 acquiring an additional 163 shares during the last quarter. ETF Managers Group LLC lifted its position 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 acquiring an additional 8,016 shares during the last quarter. Jag Capital Management LLC purchased a new position in shares of Activision Blizzard in the fourth quarter worth $333,000. Finally, William Allan LLC purchased a new position in shares of Activision Blizzard in the fourth quarter worth $432,000. 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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