Activision Blizzard (NASDAQ:ATVI)‘s stock had its “positive” rating restated by equities research analysts at Citigroup in a research note issued on Monday. They presently have a $87.00 price target on the stock, up from their prior price target of $78.00. Citigroup’s target price would indicate a potential upside of 14.58% from the stock’s previous close.
ATVI has been the subject of several other reports. Vetr lowered Activision Blizzard from a “hold” rating to a “sell” rating and set a $61.27 target price for the company. in a report on Monday, November 20th. Sanford C. Bernstein assumed coverage on Activision Blizzard in a report on Thursday, January 18th. They set a “market perform” rating and a $74.00 target price for the company. Wedbush set a $81.00 target price on Activision Blizzard and gave the company a “buy” rating in a report on Friday, February 9th. Credit Suisse Group upped their target price on Activision Blizzard from $81.00 to $83.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Finally, KeyCorp set a $83.00 target price on Activision Blizzard and gave the company a “buy” rating in a report on Friday, February 9th. Five investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. Activision Blizzard currently has a consensus rating of “Buy” and an average price target of $75.02.
Activision Blizzard (NASDAQ ATVI) opened at $75.93 on Monday. The company has a market capitalization of $57,600.00, a P/E ratio of 63.81, a PEG ratio of 2.08 and a beta of 1.10. Activision Blizzard has a fifty-two week low of $47.80 and a fifty-two week high of $79.63. The company has a current ratio of 1.78, a quick ratio of 1.77 and a debt-to-equity ratio of 0.46.
In other Activision Blizzard news, Director Robert J. Corti sold 88,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $69.88, for a total value of $6,149,440.00. Following the completion of the sale, the director now directly owns 129,562 shares in the company, valued at $9,053,792.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen G. Wereb sold 120,521 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $72.38, for a total value of $8,723,309.98. Following the completion of the sale, the insider now owns 48,511 shares of the company’s stock, valued at $3,511,226.18. The disclosure for this sale can be found here. Insiders sold 2,608,282 shares of company stock valued at $184,660,583 over the last 90 days. 2.12% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. lifted its position 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. Carmignac Gestion lifted its position in Activision Blizzard by 0.5% in the third quarter. Carmignac Gestion now owns 5,920,188 shares of the company’s stock worth $381,911,000 after purchasing an additional 26,761 shares during the period. Pacer Advisors Inc. lifted its position in Activision Blizzard by 13.7% in the third quarter. Pacer Advisors Inc. now owns 28,080 shares of the company’s stock worth $1,811,000 after purchasing an additional 3,391 shares during the period. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in Activision Blizzard in the fourth quarter worth approximately $1,171,000. Finally, Fox Run Management L.L.C. acquired a new stake in Activision Blizzard in the fourth quarter worth approximately $731,000. Hedge funds and other institutional investors own 85.61% of the company’s stock.
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.
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