Activision Blizzard Inc. (ATVI) Downgraded by Zacks Investment Research to “Hold”
According to Zacks, “ACTIVISION BLIZZARD, INC. is a worldwide pure-play online and console game publisher with leading market positions across all categories of the rapidly growing interactive entertainment software industry. Activision Blizzard’s portfolio includes best-selling video games such as Guitar Hero, Call of Duty, and Tony Hawk, as well as Spider-Man, X-Men, Shrek, James Bond and TRANSFORMERS, leading franchises such as Crash Bandicoot and Spyro and Blizzard Entertainment’s StarCraft, Diablo, and Warcraft franchises including the global number one subscription-based massively multi-player online role-playing game, World of Warcraft. Activision Blizzard maintains operations in the U.S., Canada, the United Kingdom, France, Germany, Ireland, Italy, Sweden, Spain, Norway, Denmark, the Netherlands, Romania, Australia, Chile, India, Japan, China, the region of Taiwan and South Korea. “
Other analysts have also recently issued reports about the company. Robert W. Baird reiterated a buy rating on shares of Activision Blizzard in a research report on Thursday, May 26th. Pacific Crest reiterated a buy rating on shares of Activision Blizzard in a research report on Saturday, June 4th. Cowen and Company reiterated a buy rating on shares of Activision Blizzard in a research report on Saturday, June 4th. Vetr upgraded Activision Blizzard from a hold rating to a buy rating and set a $40.48 price target on the stock in a research report on Wednesday, June 1st. Finally, Piper Jaffray Cos. reiterated a buy rating on shares of Activision Blizzard in a research report on Friday, June 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company’s stock. Activision Blizzard presently has a consensus rating of Buy and a consensus target price of $43.42.
Shares of Activision Blizzard (NASDAQ:ATVI) opened at 44.40 on Tuesday. Activision Blizzard has a 52-week low of $26.49 and a 52-week high of $44.89. The stock has a market capitalization of $32.92 billion, a P/E ratio of 44.71 and a beta of 1.02. The firm’s 50-day moving average price is $41.73 and its 200-day moving average price is $38.10.
Activision Blizzard (NASDAQ:ATVI) last released its earnings results on Thursday, August 4th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. Activision Blizzard had a return on equity of 14.49% and a net margin of 13.95%. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the business posted $0.13 EPS. Activision Blizzard’s quarterly revenue was up 112.0% compared to the same quarter last year. Equities analysts forecast that Activision Blizzard will post $1.97 earnings per share for the current fiscal year.
In other Activision Blizzard news, CEO Robert A. Kotick sold 4,588,775 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $40.51, for a total transaction of $185,891,275.25. Following the transaction, the chief executive officer now directly owns 797,049 shares in the company, valued at $32,288,454.99. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Thomas Tippl sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $43.76, for a total value of $3,282,000.00. The disclosure for this sale can be found here. Company insiders own 25.23% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. raised its position in Activision Blizzard by 103.0% in the second quarter. Bessemer Group Inc. now owns 5,062 shares of the company’s stock valued at $201,000 after buying an additional 2,568 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new position in Activision Blizzard during the second quarter valued at $210,000. Buckingham Asset Management LLC bought a new position in Activision Blizzard during the second quarter valued at $216,000. Palladium Partners LLC bought a new position in Activision Blizzard during the second quarter valued at $220,000. Finally, Meiji Yasuda Asset Management Co Ltd. bought a new position in Activision Blizzard during the second quarter valued at $220,000. Institutional investors own 83.67% of the company’s stock.
Activision Blizzard Company Profile
Activision Blizzard, Inc is a developer and publisher of online, personal computer (PC), video game console, handheld, mobile and tablet games. The Company operates through Activision Publishing, Inc (Activision) and its subsidiaries, Blizzard Entertainment, Inc (Blizzard) and its subsidiaries, and Other segments.
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