Activision Blizzard’s (ATVI) Buy Rating Reaffirmed at Jefferies Group
A number of other analysts have also recently weighed in on the company. Robert W. Baird reiterated an outperform rating and issued a $46.00 price target (up from $43.00) on shares of Activision Blizzard in a research report on Sunday, August 7th. BMO Capital Markets reiterated a market perform rating and issued a $38.00 price target on shares of Activision Blizzard in a research report on Wednesday, August 10th. Barclays PLC upped their price target on Activision Blizzard from $42.00 to $45.00 and gave the company an overweight rating in a research report on Friday, August 5th. Stifel Nicolaus increased their target price on Activision Blizzard from $45.00 to $46.00 and gave the stock a buy rating in a report on Monday, August 8th. Finally, Piper Jaffray Cos. increased their target price on Activision Blizzard from $42.00 to $46.00 and gave the stock an overweight rating in a report on Friday, August 5th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Activision Blizzard presently has a consensus rating of Buy and an average target price of $46.75.
Activision Blizzard (NASDAQ:ATVI) opened at 36.61 on Wednesday. Activision Blizzard has a 12-month low of $26.49 and a 12-month high of $45.55. The firm has a 50-day moving average of $41.55 and a 200-day moving average of $41.00. The firm has a market cap of $27.21 billion, a P/E ratio of 31.78 and a beta of 1.11.
Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.07. Activision Blizzard had a return on equity of 16.63% and a net margin of 13.81%. The company earned $1.57 billion during the quarter, compared to analyst estimates of $6.54 billion. During the same period in the previous year, the company earned $0.21 earnings per share. The company’s quarterly revenue was up 58.4% compared to the same quarter last year. On average, analysts expect that Activision Blizzard will post $2.06 EPS for the current year.
In other news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $40.09, for a total value of $792,218.49. Following the transaction, the chief executive officer now directly owns 69,583 shares of the company’s stock, valued at approximately $2,789,582.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas Tippl sold 75,000 shares of the business’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. 25.23% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Livforsakringsbolaget Skandia Omsesidigt increased its position in Activision Blizzard by 29.1% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 66,907 shares of the company’s stock worth $2,652,000 after buying an additional 15,100 shares during the period. Eqis Capital Management Inc. increased its position in Activision Blizzard by 5.0% in the second quarter. Eqis Capital Management Inc. now owns 35,605 shares of the company’s stock worth $1,411,000 after buying an additional 1,699 shares during the period. Sarasin & Partners LLP purchased a new position in Activision Blizzard during the second quarter worth $2,757,000. Balasa Dinverno & Foltz LLC purchased a new position in Activision Blizzard during the second quarter worth $251,000. Finally, Capstone Asset Management Co. increased its position in Activision Blizzard by 5.1% in the second quarter. Capstone Asset Management Co. now owns 265,713 shares of the company’s stock worth $10,530,000 after buying an additional 12,860 shares during the period. 85.46% of the stock is currently owned by institutional investors.
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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