Activision Blizzard, Inc (NASDAQ:ATVI) – Equities researchers at Jefferies Group raised their FY2017 earnings estimates for Activision Blizzard in a report released on Tuesday, Zacks Investment Research reports. Jefferies Group analyst T. O’shea now expects that the company will post earnings per share of $2.21 for the year, up from their previous forecast of $2.05. Jefferies Group has a “Buy” rating and a $82.00 price objective on the stock.
Several other brokerages have also recently commented on ATVI. Buckingham Research started coverage on Activision Blizzard in a research report on Wednesday, September 20th. They set a “buy” rating and a $79.00 price target for the company. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $69.00 price objective on shares of Activision Blizzard in a research report on Friday, August 4th. Vetr cut Activision Blizzard from a “hold” rating to a “sell” rating and set a $61.90 price objective for the company. in a research report on Thursday, August 31st. Benchmark Co. raised their price objective on Activision Blizzard from $71.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Finally, Wedbush set a $75.00 price target on Activision Blizzard and gave the stock a “buy” rating in a report on Thursday, October 26th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $68.75.
Activision Blizzard (NASDAQ ATVI) traded down $0.31 during trading hours on Thursday, hitting $63.00. The company had a trading volume of 4,858,800 shares, compared to its average volume of 6,884,357. Activision Blizzard has a fifty-two week low of $35.12 and a fifty-two week high of $67.03. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.22 and a current ratio of 2.25. The company has a market capitalization of $47,634.30, a P/E ratio of 28.64, a PEG ratio of 2.20 and a beta of 1.07.
In other news, CEO Riccardo Zacconi sold 19,761 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $61.32, for a total transaction of $1,211,744.52. Following the transaction, the chief executive officer now directly owns 48,472 shares of the company’s stock, valued at $2,972,303.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.12% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Allen Investment Management LLC purchased a new stake in Activision Blizzard in the second quarter worth about $2,095,000. DnB Asset Management AS increased its position in shares of Activision Blizzard by 10.6% during the second quarter. DnB Asset Management AS now owns 80,653 shares of the company’s stock valued at $4,643,000 after acquiring an additional 7,700 shares in the last quarter. Pacad Investment Ltd. increased its position in shares of Activision Blizzard by 131.0% during the second quarter. Pacad Investment Ltd. now owns 119,447 shares of the company’s stock valued at $6,877,000 after acquiring an additional 67,742 shares in the last quarter. Norinchukin Bank The increased its position in shares of Activision Blizzard by 7.1% during the second quarter. Norinchukin Bank The now owns 48,118 shares of the company’s stock valued at $2,770,000 after acquiring an additional 3,170 shares in the last quarter. Finally, Brighton Jones LLC bought a new stake in Activision Blizzard in the 2nd quarter worth approximately $508,000. Institutional investors and hedge funds own 86.32% 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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