Activision Blizzard (ATVI) Upgraded to “Buy” at ValuEngine
ValuEngine upgraded shares of Activision Blizzard (NASDAQ:ATVI) from a hold rating to a buy rating in a research report sent to investors on Thursday.
Several other analysts also recently commented on the stock. Vetr downgraded shares of Activision Blizzard from a hold rating to a sell rating and set a $62.29 price objective on the stock. in a report on Tuesday, December 12th. SunTrust Banks set a $77.00 price objective on shares of Activision Blizzard and gave the company a buy rating in a report on Wednesday, January 24th. Goldman Sachs Group raised shares of Activision Blizzard from a neutral rating to a buy rating in a report on Tuesday, December 12th. UBS Group upped their price objective on shares of Activision Blizzard from $72.00 to $75.00 and gave the company a buy rating in a report on Friday, November 3rd. Finally, Zacks Investment Research raised shares of Activision Blizzard from a hold rating to a buy rating and set a $71.00 price objective on the stock in a report on Tuesday, January 2nd. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $74.16.
Shares of Activision Blizzard (ATVI) opened at $74.01 on Thursday. The firm has a market cap of $56,146.33, a P/E ratio of 205.58, a price-to-earnings-growth ratio of 1.97 and a beta of 1.10. Activision Blizzard has a 12-month low of $46.50 and a 12-month high of $74.94. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.77 and a current ratio of 1.78.
In related news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $70.99, for a total value of $1,402,833.39. Following the completion of the transaction, the chief executive officer now directly owns 34,398 shares in the company, valued at approximately $2,441,914.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Brian G. Kelly sold 680,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $71.00, for a total transaction of $48,280,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,487,761 shares of company stock valued at $175,937,273. Company insiders own 2.12% of the company’s stock.
A number of large investors have recently bought and sold shares of ATVI. BlackRock Inc. raised its position in Activision Blizzard by 5.8% during the fourth quarter. BlackRock Inc. now owns 54,967,203 shares of the company’s stock worth $3,480,525,000 after acquiring an additional 2,992,193 shares during the period. Schwab Charles Investment Management Inc. acquired a new position in Activision Blizzard during the fourth quarter worth $169,547,000. Egerton Capital UK LLP raised its position in Activision Blizzard by 22.0% during the fourth quarter. Egerton Capital UK LLP now owns 11,051,017 shares of the company’s stock worth $699,750,000 after acquiring an additional 1,991,213 shares during the period. Prudential Financial Inc. raised its position in Activision Blizzard by 108.6% during the third quarter. Prudential Financial Inc. now owns 3,184,687 shares of the company’s stock worth $205,444,000 after acquiring an additional 1,657,730 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Activision Blizzard by 25.6% during the third quarter. Bank of New York Mellon Corp now owns 7,476,125 shares of the company’s stock worth $482,285,000 after acquiring an additional 1,523,740 shares during the period. Institutional investors own 85.09% of the company’s stock.
About Activision Blizzard
Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. The Company develops and distributes content and services across various gaming platforms, including video game consoles, personal computers (PC) and mobile devices. Its segments include Activision Publishing, Inc (Activision), Blizzard Entertainment, Inc (Blizzard), King Digital Entertainment (King) and Other.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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