BidaskClub cut shares of Activision Blizzard (NASDAQ:ATVI) from a strong-buy rating to a buy rating in a research report released on Saturday morning.
ATVI has been the topic of several other research reports. Zacks Investment Research downgraded shares of Activision Blizzard from a buy rating to a hold rating in a research note on Monday, January 8th. Vetr raised shares of Activision Blizzard from a hold rating to a strong-buy rating and set a $71.71 price objective on the stock in a research note on Tuesday, December 26th. KeyCorp set a $80.00 price objective on shares of Activision Blizzard and gave the company a buy rating in a research note on Monday, January 8th. SunTrust Banks set a $77.00 price objective on shares of Activision Blizzard and gave the company a buy rating in a research note on Wednesday, January 24th. Finally, Credit Suisse Group reissued a buy rating and set a $81.00 price objective on shares of Activision Blizzard in a research note on Friday, January 26th. Five research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $75.03.
Activision Blizzard (NASDAQ ATVI) opened at $71.68 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.77 and a current ratio of 1.78. The stock has a market cap of $54,378.74, a P/E ratio of 199.11, a P/E/G ratio of 1.91 and a beta of 1.10. Activision Blizzard has a one year low of $47.80 and a one year high of $79.63.
In other news, insider Dennis M. Durkin sold 21,488 shares of the firm’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $77.18, for a total value of $1,658,443.84. Following the transaction, the insider now owns 151,314 shares of the company’s stock, valued at approximately $11,678,414.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert J. Corti sold 88,000 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $69.88, for a total transaction of $6,149,440.00. Following the completion of the transaction, the director now directly owns 129,562 shares in the company, valued at approximately $9,053,792.56. The disclosure for this sale can be found here. In the last three months, insiders sold 2,701,258 shares of company stock worth $191,727,094. Insiders own 2.12% of the company’s stock.
Several hedge funds have recently modified their holdings of ATVI. Raymond James Financial Services Advisors Inc. raised its stake in shares of Activision Blizzard by 1.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 101,870 shares of the company’s stock valued at $6,572,000 after acquiring an additional 1,238 shares during the period. Chicago Equity Partners LLC purchased a new position in shares of Activision Blizzard in the 3rd quarter valued at $204,000. New York State Common Retirement Fund raised its stake in shares of Activision Blizzard by 12.9% in the 3rd quarter. New York State Common Retirement Fund now owns 2,055,805 shares of the company’s stock valued at $132,620,000 after acquiring an additional 235,395 shares during the period. Advisor Group Inc. raised its stake in shares of Activision Blizzard by 17.0% in the 3rd quarter. Advisor Group Inc. now owns 22,874 shares of the company’s stock valued at $1,477,000 after acquiring an additional 3,318 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in Activision Blizzard by 26.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 462,719 shares of the company’s stock valued at $29,842,000 after purchasing an additional 97,405 shares in the last quarter. 85.61% of the stock is currently owned by institutional investors and hedge funds.
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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.
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