Activision Blizzard (NASDAQ:ATVI) Rating Increased to Buy at BidaskClub
ATVI has been the topic of several other research reports. Ascendiant Capital Markets reissued a buy rating and issued a $55.00 target price (up previously from $53.00) on shares of Activision Blizzard in a research note on Wednesday, August 14th. Nomura upgraded Activision Blizzard from a neutral rating to a buy rating and boosted their target price for the stock from $49.00 to $64.00 in a research report on Thursday, September 12th. Piper Jaffray Companies set a $62.00 price target on Activision Blizzard and gave the company a buy rating in a research note on Friday, October 25th. Barclays set a $63.00 price target on shares of Activision Blizzard and gave the company a buy rating in a research report on Monday, October 21st. Finally, Credit Suisse Group cut their price target on shares of Activision Blizzard from $65.00 to $64.00 and set an outperform rating on the stock in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Activision Blizzard currently has an average rating of Buy and a consensus target price of $60.44.
Shares of Activision Blizzard stock opened at $54.59 on Friday. The firm has a fifty day moving average of $54.48 and a two-hundred day moving average of $50.12. The stock has a market capitalization of $42.12 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 2.46 and a beta of 0.84. Activision Blizzard has a 52 week low of $39.85 and a 52 week high of $57.52. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.38 and a current ratio of 3.43.
In related news, COO Collister Johnson sold 3,800 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $52.43, for a total value of $199,234.00. Following the sale, the chief operating officer now directly owns 280,983 shares of the company’s stock, valued at approximately $14,731,938.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher B. Walther sold 5,333 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $52.67, for a total transaction of $280,889.11. The disclosure for this sale can be found here. 1.31% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Capital Investment Advisory Services LLC lifted its stake in Activision Blizzard by 189.5% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 553 shares of the company’s stock valued at $25,000 after acquiring an additional 362 shares in the last quarter. B & T Capital Management DBA Alpha Capital Management bought a new position in shares of Activision Blizzard during the 3rd quarter worth approximately $28,000. Redhawk Wealth Advisors Inc. bought a new position in shares of Activision Blizzard during the 2nd quarter worth approximately $29,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of Activision Blizzard in the third quarter valued at approximately $29,000. Finally, Quantum Capital Management acquired a new stake in shares of Activision Blizzard in the third quarter valued at approximately $33,000. Institutional investors own 88.56% of the company’s stock.
About Activision Blizzard
Activision Blizzard, Inc develops and distributes content and services on video game consoles, personal computers (PC), and mobile devices. The company operates through three segments: Activision Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment. It develops, publishes, and sells interactive software products and entertainment content for the console and PC platforms through retail and digital channels, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies; and offers downloadable content.
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