Activision Blizzard Inc. (ATVI) Upgraded at Vetr Inc.
Vetr upgraded shares of Activision Blizzard Inc. (NASDAQ:ATVI) from a hold rating to a buy rating in a research report released on Monday morning. Vetr currently has $46.28 price objective on the stock.
A number of other equities research analysts have also recently weighed in on the company. Morgan Stanley assumed coverage on Activision Blizzard in a research note on Friday, September 23rd. They issued an overweight rating and a $56.00 price target on the stock. Benchmark Co. restated a buy rating and issued a $49.79 price target (up previously from $45.56) on shares of Activision Blizzard in a research note on Thursday, September 22nd. Zacks Investment Research upgraded Activision Blizzard from a hold rating to a buy rating and set a $50.00 price target on the stock in a research note on Wednesday, September 21st. Jefferies Group restated a buy rating and issued a $55.00 price target on shares of Activision Blizzard in a research note on Wednesday, September 21st. Finally, Robert W. Baird reaffirmed an outperform rating and issued a $46.00 price objective on shares of Activision Blizzard in a report on Thursday, September 8th. Three research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of $44.79.
Shares of Activision Blizzard (NASDAQ:ATVI) opened at 43.99 on Monday. Activision Blizzard has a 12-month low of $26.49 and a 12-month high of $45.12. The company has a 50 day moving average of $42.97 and a 200-day moving average of $39.08. The firm has a market cap of $32.62 billion, a PE ratio of 44.30 and a beta of 1.09.
Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.45 earnings per share for the quarter, beating 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 business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the prior year, the business earned $0.13 EPS. The firm’s revenue for the quarter was up 112.0% on a year-over-year basis. Equities research analysts forecast that Activision Blizzard will post $1.99 EPS for the current fiscal year.
In related news, COO Thomas Tippl sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $43.76, for a total transaction of $3,282,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Riccardo Zacconi sold 19,761 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $39.63, for a total value of $783,128.43. Following the sale, the chief executive officer now directly owns 76,620 shares of the company’s stock, valued at approximately $3,036,450.60. The disclosure for this sale can be found here. Corporate insiders own 25.23% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in ATVI. Calamos Advisors LLC purchased a new stake in shares of Activision Blizzard during the second quarter worth approximately $45,970,000. Zurich Insurance Group Ltd FI purchased a new stake in shares of Activision Blizzard during the first quarter worth approximately $2,998,000. Standard Life Investments LTD boosted its stake in shares of Activision Blizzard by 2.8% in the second quarter. Standard Life Investments LTD now owns 6,733,500 shares of the company’s stock worth $266,950,000 after buying an additional 186,318 shares during the period. Norinchukin Bank The boosted its stake in shares of Activision Blizzard by 2.7% in the second quarter. Norinchukin Bank The now owns 26,718 shares of the company’s stock worth $1,059,000 after buying an additional 692 shares during the period. Finally, Invictus RG boosted its stake in shares of Activision Blizzard by 1,548.1% in the first quarter. Invictus RG now owns 9,246 shares of the company’s stock worth $313,000 after buying an additional 8,685 shares during the period. 83.67% of the stock is owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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