Activision Blizzard (NASDAQ:ATVI) Rating Lowered to Hold at Edward Jones

Activision Blizzard (NASDAQ:ATVI) was downgraded by equities research analysts at Edward Jones from a “buy” rating to a “hold” rating in a research report issued on Thursday, Analyst Ratings Network reports.

Other equities analysts also recently issued reports about the company. Berenberg Bank dropped their price objective on Activision Blizzard from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday. MKM Partners downgraded Activision Blizzard from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $75.00 to $54.00 in a research note on Monday, November 22nd. Oppenheimer dropped their price objective on Activision Blizzard from $100.00 to $85.00 and set an “outperform” rating for the company in a research note on Wednesday, November 3rd. Truist Securities dropped their price objective on Activision Blizzard from $101.00 to $74.00 and set a “buy” rating for the company in a research note on Monday, November 22nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Activision Blizzard from $115.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, November 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Activision Blizzard currently has a consensus rating of “Buy” and an average price target of $95.17.

ATVI opened at $65.39 on Thursday. The company has a market cap of $50.93 billion, a PE ratio of 19.35, a P/E/G ratio of 1.14 and a beta of 0.71. The business has a 50 day moving average price of $63.22 and a two-hundred day moving average price of $75.47. Activision Blizzard has a 52 week low of $56.40 and a 52 week high of $104.53. The company has a quick ratio of 5.56, a current ratio of 5.56 and a debt-to-equity ratio of 0.21.

Activision Blizzard (NASDAQ:ATVI) last issued its earnings results on Tuesday, November 2nd. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.88 billion. Activision Blizzard had a return on equity of 16.39% and a net margin of 29.18%. During the same period in the prior year, the business posted $0.66 EPS. As a group, sell-side analysts expect that Activision Blizzard will post 3.49 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of ATVI. 1832 Asset Management L.P. raised its position in Activision Blizzard by 1.9% in the second quarter. 1832 Asset Management L.P. now owns 296,518 shares of the company’s stock valued at $28,191,000 after purchasing an additional 5,447 shares during the period. Lord Abbett & CO. LLC raised its position in Activision Blizzard by 31.2% in the second quarter. Lord Abbett & CO. LLC now owns 1,687,534 shares of the company’s stock valued at $161,058,000 after purchasing an additional 401,629 shares during the period. KMG Fiduciary Partners LLC raised its position in Activision Blizzard by 25.3% in the third quarter. KMG Fiduciary Partners LLC now owns 20,979 shares of the company’s stock valued at $1,624,000 after purchasing an additional 4,230 shares during the period. AMF Pensionsforsakring AB raised its position in Activision Blizzard by 81.3% in the second quarter. AMF Pensionsforsakring AB now owns 1,236,497 shares of the company’s stock valued at $118,038,000 after purchasing an additional 554,347 shares during the period. Finally, Twin Tree Management LP raised its position in Activision Blizzard by 45.2% in the second quarter. Twin Tree Management LP now owns 150,241 shares of the company’s stock valued at $14,339,000 after purchasing an additional 46,772 shares during the period. 84.12% of the stock is currently owned by institutional investors and hedge funds.

Activision Blizzard Company Profile

Activision Blizzard, Inc engages in the development and publication of interactive entertainment. It operates through the following segments: Activision Publishing, Blizzard Entertainment and King Digital Entertainment. The Activision Publishing segment develops and publishes interactive software products and entertainment content, particularly for the console platform.

See Also: VIX – Volatility Index

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

Receive News & Ratings for Activision Blizzard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Activision Blizzard and related companies with MarketBeat.com's FREE daily email newsletter.