Activision Blizzard (ATVI) Receives New Coverage from Analysts at BTIG Research

Research analysts at BTIG Research initiated coverage on shares of Activision Blizzard (NASDAQ:ATVI) in a research report issued to clients and investors on Monday, December 18th, Marketbeat reports. The firm set a “buy” rating and a $80.00 price target on the stock. BTIG Research’s price objective would indicate a potential upside of 13.70% from the company’s previous close.

Several other brokerages have also recently weighed in on ATVI. Goldman Sachs Group began coverage on shares of Activision Blizzard in a research note on Friday, September 8th. They issued a “neutral” rating and a $65.00 price objective on the stock. KeyCorp reissued a “buy” rating and issued a $74.00 price objective on shares of Activision Blizzard in a research note on Friday, September 8th. Vetr cut shares of Activision Blizzard from a “hold” rating to a “sell” rating and set a $61.90 price target on the stock. in a research report on Thursday, August 31st. BMO Capital Markets reaffirmed a “hold” rating and set a $62.00 price target on shares of Activision Blizzard in a research report on Thursday, November 2nd. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $68.00 price target on shares of Activision Blizzard in a research report on Wednesday, September 20th. Seven research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $69.91.

Shares of Activision Blizzard (NASDAQ:ATVI) traded up $1.12 during trading on Monday, hitting $70.36. 8,021,879 shares of the company traded hands, compared to its average volume of 5,860,000. The company has a current ratio of 2.25, a quick ratio of 2.22 and a debt-to-equity ratio of 0.44. Activision Blizzard has a one year low of $38.38 and a one year high of $70.71. The company has a market capitalization of $53,200.00, a PE ratio of 48.19, a price-to-earnings-growth ratio of 1.94 and a beta of 1.02.

In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $63.64, for a total value of $1,257,590.04. Following the completion of the sale, the chief executive officer now owns 41,435 shares in the company, valued at approximately $2,636,923.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.12% of the company’s stock.

A number of large investors have recently bought and sold shares of ATVI. Bessemer Group Inc. increased its stake in shares of Activision Blizzard by 12.3% during the 2nd quarter. Bessemer Group Inc. now owns 6,460 shares of the company’s stock worth $372,000 after purchasing an additional 710 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of Activision Blizzard by 8.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 9,648 shares of the company’s stock worth $555,000 after purchasing an additional 716 shares during the last quarter. Dupont Capital Management Corp purchased a new stake in shares of Activision Blizzard during the 2nd quarter worth approximately $216,000. State Board of Administration of Florida Retirement System increased its stake in shares of Activision Blizzard by 25.5% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 971,108 shares of the company’s stock worth $55,907,000 after purchasing an additional 197,521 shares during the last quarter. Finally, Columbus Circle Investors purchased a new stake in shares of Activision Blizzard during the 2nd quarter worth approximately $3,205,000. Hedge funds and other institutional investors own 86.48% of the company’s stock.

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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.

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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