BidaskClub Upgrades Activision Blizzard (ATVI) to “Buy”

BidaskClub upgraded shares of Activision Blizzard (NASDAQ:ATVI) from a hold rating to a buy rating in a report issued on Tuesday.

Several other analysts also recently weighed in on the stock. Vetr downgraded shares of Activision Blizzard from a buy rating to a hold rating and set a $69.64 price target for the company. in a research note on Thursday, January 11th. Wedbush set a $75.00 price target on shares of Activision Blizzard and gave the stock a buy rating in a research note on Thursday, January 11th. Macquarie boosted their price target on shares of Activision Blizzard from $64.00 to $68.00 and gave the stock an outperform rating in a research note on Wednesday, January 10th. Zacks Investment Research downgraded shares of Activision Blizzard from a buy rating to a hold rating in a research note on Monday, January 8th. Finally, KeyCorp set a $80.00 price target on shares of Activision Blizzard and gave the stock a buy rating in a research note on Monday, January 8th. Seven research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $70.04.

Activision Blizzard (NASDAQ:ATVI) traded up $0.77 during trading on Tuesday, reaching $70.57. 5,203,708 shares of the company’s stock traded hands, compared to its average volume of 5,520,000. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.25 and a quick ratio of 2.22. The company has a market capitalization of $53,360.00, a P/E ratio of 48.34, a PEG ratio of 2.06 and a beta of 1.02. Activision Blizzard has a 1-year low of $38.38 and a 1-year high of $71.18.

Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.11. Activision Blizzard had a net margin of 15.90% and a return on equity of 17.56%. analysts predict that Activision Blizzard will post 2.1 earnings per share for the current year.

In related news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $63.64, for a total transaction of $1,257,590.04. Following the transaction, the chief executive officer now owns 41,435 shares in the company, valued at $2,636,923.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.12% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in ATVI. The Manufacturers Life Insurance Company grew its holdings in Activision Blizzard by 39.0% in the second quarter. The Manufacturers Life Insurance Company now owns 1,101,771 shares of the company’s stock worth $63,430,000 after purchasing an additional 309,181 shares during the period. Oppenheimer & Co. Inc. grew its holdings in Activision Blizzard by 94.4% in the third quarter. Oppenheimer & Co. Inc. now owns 66,349 shares of the company’s stock worth $4,280,000 after purchasing an additional 32,224 shares during the period. Quantitative Systematic Strategies LLC purchased a new stake in Activision Blizzard in the third quarter worth about $881,000. State Board of Administration of Florida Retirement System grew its holdings in Activision Blizzard by 3.5% in the third quarter. State Board of Administration of Florida Retirement System now owns 1,005,178 shares of the company’s stock worth $64,844,000 after purchasing an additional 34,070 shares during the period. Finally, Highstreet Asset Management Inc. grew its holdings in Activision Blizzard by 23.6% in the third quarter. Highstreet Asset Management Inc. now owns 11,282 shares of the company’s stock worth $728,000 after purchasing an additional 2,151 shares during the period. Institutional investors own 86.49% of the company’s stock.

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Activision Blizzard Company Profile

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.

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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