Activision Blizzard’s (ATVI) Outperform Rating Reiterated at Cowen and Company

Cowen and Company reiterated their outperform rating on shares of Activision Blizzard, Inc (NASDAQ:ATVI) in a report released on Friday morning. Cowen and Company currently has a $51.00 target price on the stock.

Several other research firms have also weighed in on ATVI. Vetr lowered shares of Activision Blizzard from a hold rating to a sell rating and set a $42.09 target price for the company. in a research note on Tuesday, September 13th. Benchmark Co. boosted their target price on shares of Activision Blizzard from $49.79 to $50.87 and gave the company a buy rating in a research note on Monday, November 7th. Zacks Investment Research upgraded shares of Activision Blizzard from a hold rating to a strong-buy rating and set a $52.00 target price for the company in a research note on Wednesday, October 26th. Oppenheimer Holdings, Inc. started coverage on shares of Activision Blizzard in a research note on Friday, October 14th. They set an outperform rating and a $53.00 target price for the company. Finally, Barclays PLC set a $44.00 target price on shares of Activision Blizzard and gave the company a buy rating in a research note on Thursday, December 15th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $46.94.

Shares of Activision Blizzard (NASDAQ:ATVI) traded up 1.54% during mid-day trading on Friday, hitting $38.97. 4,021,675 shares of the company traded hands. The firm has a market cap of $28.96 billion, a price-to-earnings ratio of 33.83 and a beta of 0.99. The firm has a 50-day moving average price of $36.97 and a 200 day moving average price of $40.67. Activision Blizzard has a 52-week low of $26.49 and a 52-week high of $45.55.

Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.07. The business earned $1.57 billion during the quarter, compared to analyst estimates of $6.54 billion. Activision Blizzard had a net margin of 13.81% and a return on equity of 16.63%. The business’s revenue was up 58.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 earnings per share. Equities research analysts anticipate that Activision Blizzard will post $2.04 EPS for the current fiscal year.

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In related news, CEO Riccardo Zacconi sold 19,761 shares of the stock in a transaction that occurred on 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 owns 69,583 shares in the company, valued at $2,789,582.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 25.23% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in ATVI. Bronfman E.L. Rothschild L.P. increased its position in Activision Blizzard by 0.5% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 4,879 shares of the company’s stock worth $216,000 after buying an additional 24 shares in the last quarter. Checchi Capital Advisers LLC increased its position in Activision Blizzard by 0.5% in the third quarter. Checchi Capital Advisers LLC now owns 8,574 shares of the company’s stock worth $380,000 after buying an additional 39 shares in the last quarter. Commerce Bank increased its position in Activision Blizzard by 0.3% in the third quarter. Commerce Bank now owns 17,148 shares of the company’s stock worth $760,000 after buying an additional 46 shares in the last quarter. HL Financial Services LLC increased its position in Activision Blizzard by 0.5% in the second quarter. HL Financial Services LLC now owns 11,447 shares of the company’s stock worth $454,000 after buying an additional 61 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its position in Activision Blizzard by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 19,432 shares of the company’s stock worth $770,000 after buying an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 85.35% 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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