ValuEngine Downgrades Activision Blizzard (ATVI) to Hold

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

A number of other analysts have also recently commented on ATVI. BidaskClub cut Activision Blizzard from a strong-buy rating to a buy rating in a research report on Wednesday, July 25th. Stifel Nicolaus cut their target price on Activision Blizzard from $82.00 to $78.00 and set a buy rating on the stock in a research report on Wednesday, October 31st. Wedbush reiterated an outperform rating and set a $100.00 target price on shares of Activision Blizzard in a research report on Monday, November 5th. Morgan Stanley lifted their target price on Activision Blizzard from $75.00 to $80.00 and gave the stock an overweight rating in a research report on Wednesday, July 11th. Finally, Piper Jaffray Companies lifted their target price on Activision Blizzard to $84.00 and gave the stock an overweight rating in a research report on Wednesday, July 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $77.62.

Activision Blizzard stock traded down $7.78 during midday trading on Tuesday, reaching $55.01. The company’s stock had a trading volume of 34,539,389 shares, compared to its average volume of 9,550,354. Activision Blizzard has a fifty-two week low of $53.50 and a fifty-two week high of $84.68. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.98 and a quick ratio of 2.96. The stock has a market cap of $49.63 billion, a PE ratio of 26.83, a P/E/G ratio of 1.73 and a beta of 1.11.

Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Thursday, November 8th. The company reported $0.47 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.03). Activision Blizzard had a return on equity of 16.39% and a net margin of 6.96%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the firm posted $0.25 EPS. The firm’s revenue for the quarter was down 12.6% on a year-over-year basis. On average, research analysts expect that Activision Blizzard will post 2.49 earnings per share for the current fiscal year.

In related news, CEO Riccardo Zacconi sold 19,761 shares of the firm’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $68.70, for a total transaction of $1,357,580.70. Following the transaction, the chief executive officer now owns 20,324 shares of the company’s stock, valued at $1,396,258.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.29% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATVI. Asset Advisors Investment Management LLC purchased a new stake in Activision Blizzard in the 3rd quarter valued at approximately $100,000. Ashburton Jersey Ltd purchased a new stake in Activision Blizzard in the 2nd quarter valued at approximately $107,000. Quad Cities Investment Group LLC purchased a new stake in Activision Blizzard in the 2nd quarter valued at approximately $114,000. NuWave Investment Management LLC purchased a new stake in Activision Blizzard in the 2nd quarter valued at approximately $121,000. Finally, Psagot Investment House Ltd. purchased a new stake in Activision Blizzard in the 3rd quarter valued at approximately $135,000. 86.92% of the stock is currently owned by hedge funds and other institutional investors.

Activision Blizzard Company Profile

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. The company 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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