Activision Blizzard (NASDAQ:ATVI) Downgraded to “C+” at TheStreet

TheStreet lowered shares of Activision Blizzard (NASDAQ:ATVIGet Rating) from a b rating to a c+ rating in a report released on Wednesday, TheStreetRatingsTable reports.

A number of other equities research analysts have also recently weighed in on the company. Moffett Nathanson upgraded Activision Blizzard from a neutral rating to a buy rating and set a $95.00 price target on the stock in a research note on Wednesday, August 3rd. Deutsche Bank Aktiengesellschaft dropped their price target on Activision Blizzard from $95.00 to $84.00 in a research note on Thursday, August 4th. Finally, Atlantic Securities upgraded Activision Blizzard from a neutral rating to an overweight rating and dropped their price target for the company from $95.00 to $84.00 in a research note on Thursday, September 15th. Fifteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $93.58.

Activision Blizzard Trading Up 2.3 %

NASDAQ ATVI opened at $77.03 on Wednesday. The company has a market cap of $60.26 billion, a PE ratio of 32.10, a PEG ratio of 3.23 and a beta of 0.51. The company has a current ratio of 6.18, a quick ratio of 6.18 and a debt-to-equity ratio of 0.20. Activision Blizzard has a 12 month low of $56.40 and a 12 month high of $86.90. The stock has a 50 day moving average of $78.82 and a 200-day moving average of $78.39.

Activision Blizzard (NASDAQ:ATVIGet Rating) last released its quarterly earnings data on Monday, August 1st. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.38 by $0.09. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.57 billion. Activision Blizzard had a return on equity of 10.22% and a net margin of 24.57%. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 EPS. On average, equities research analysts anticipate that Activision Blizzard will post 2.44 EPS for the current fiscal year.

Insider Buying and Selling at Activision Blizzard

In other Activision Blizzard news, CFO Armin Zerza sold 10,174 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $80.22, for a total value of $816,158.28. Following the sale, the chief financial officer now owns 186,117 shares of the company’s stock, valued at approximately $14,930,305.74. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Armin Zerza sold 10,174 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $80.22, for a total value of $816,158.28. Following the completion of the transaction, the chief financial officer now directly owns 186,117 shares in the company, valued at approximately $14,930,305.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Daniel Alegre sold 10,000 shares of the stock in a transaction on Friday, September 9th. The shares were sold at an average price of $78.16, for a total value of $781,600.00. Following the completion of the transaction, the chief operating officer now owns 176,690 shares of the company’s stock, valued at $13,810,090.40. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ATVI. Fieldpoint Private Securities LLC raised its position in Activision Blizzard by 29.0% during the 1st quarter. Fieldpoint Private Securities LLC now owns 556 shares of the company’s stock worth $45,000 after purchasing an additional 125 shares during the last quarter. Waldron Private Wealth LLC raised its position in Activision Blizzard by 0.6% during the 2nd quarter. Waldron Private Wealth LLC now owns 21,015 shares of the company’s stock worth $1,636,000 after purchasing an additional 126 shares during the last quarter. Roberts Glore & Co. Inc. IL raised its position in Activision Blizzard by 1.7% during the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 7,564 shares of the company’s stock worth $589,000 after purchasing an additional 130 shares during the last quarter. Israel Discount Bank of New York raised its position in Activision Blizzard by 2.4% during the 1st quarter. Israel Discount Bank of New York now owns 5,979 shares of the company’s stock worth $479,000 after purchasing an additional 138 shares during the last quarter. Finally, Asset Dedication LLC raised its position in Activision Blizzard by 13.3% during the 2nd quarter. Asset Dedication LLC now owns 1,237 shares of the company’s stock worth $97,000 after purchasing an additional 145 shares during the last quarter. 78.78% of the stock is currently owned by institutional investors.

About Activision Blizzard

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Activision Blizzard, Inc, together with its subsidiaries, develops and publishes interactive entertainment content and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Activision, Blizzard, and King. It develops and distributes content and services on video game consoles, personal computers, and mobile devices, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies that distribute Activision and Blizzard products.

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