Activision Blizzard Inc. (ATVI) Earns Outperform Rating from Analysts at Oppenheimer Holdings Inc.
Stock analysts at Oppenheimer Holdings Inc. started coverage on shares of Activision Blizzard Inc. (NASDAQ:ATVI) in a research note issued on Friday. The brokerage set an “outperform” rating and a $53.00 price target on the stock. Oppenheimer Holdings Inc.’s target price suggests a potential upside of 22.80% from the stock’s previous close.
Other equities analysts have also issued reports about the company. Stifel Nicolaus reissued a “buy” rating and set a $35.00 price objective on shares of Activision Blizzard in a report on Tuesday, July 12th. Jefferies Group reissued a “buy” rating on shares of Activision Blizzard in a report on Monday, July 11th. Pacific Crest reissued a “buy” rating on shares of Activision Blizzard in a report on Sunday, June 26th. Barclays PLC reissued a “buy” rating on shares of Activision Blizzard in a report on Saturday, June 18th. Finally, Vetr raised Activision Blizzard from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a report on Thursday, July 28th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $45.30.
Activision Blizzard (NASDAQ:ATVI) traded up 2.53% during trading on Friday, hitting $44.25. The stock had a trading volume of 4,378,418 shares. The company has a 50-day moving average of $43.42 and a 200-day moving average of $39.42. Activision Blizzard has a 52 week low of $26.49 and a 52 week high of $45.12. The stock has a market capitalization of $32.81 billion, a P/E ratio of 44.56 and a beta of 1.09.
Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate 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 earned $1.57 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the company earned $0.13 earnings per share. Activision Blizzard’s revenue was up 112.0% compared to the same quarter last year. On average, equities analysts expect that Activision Blizzard will post $1.99 earnings per share for the current fiscal year.
In other Activision Blizzard news, Director Brian G. Kelly sold 386,927 shares of Activision Blizzard stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $40.51, for a total transaction of $15,674,412.77. Following the sale, the director now directly owns 292,929 shares of the company’s stock, valued at approximately $11,866,553.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Thomas Tippl sold 75,000 shares of Activision Blizzard stock in a transaction that occurred on 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. 25.23% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC boosted its stake in Activision Blizzard by 24.0% in the third quarter. Advisory Services Network LLC now owns 3,669 shares of the company’s stock valued at $163,000 after buying an additional 711 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Activision Blizzard by 103.0% in the second quarter. Bessemer Group Inc. now owns 5,062 shares of the company’s stock worth $201,000 after buying an additional 2,568 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Activision Blizzard during the second quarter worth approximately $210,000. Buckingham Asset Management LLC bought a new stake in shares of Activision Blizzard during the second quarter worth approximately $216,000. Finally, Palladium Partners LLC bought a new stake in shares of Activision Blizzard during the second quarter worth approximately $220,000. 83.67% of the stock is currently 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.
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