Activision Blizzard (ATVI) Shares Gap Up to $69.24

Activision Blizzard, Inc. (NASDAQ:ATVI)’s share price gapped up prior to trading on Friday . The stock had previously closed at $70.19, but opened at $69.24. Activision Blizzard shares last traded at $70.37, with a volume of 4130514 shares changing hands.

Several equities analysts have weighed in on ATVI shares. Wedbush set a $75.00 target price on Activision Blizzard and gave the company a “buy” rating in a research report on Thursday, October 26th. Vetr raised Activision Blizzard from a “hold” rating to a “buy” rating and set a $64.58 target price for the company in a research report on Tuesday, October 10th. Zacks Investment Research raised Activision Blizzard from a “hold” rating to a “strong-buy” rating and set a $71.00 target price for the company in a research report on Friday, October 27th. Cowen downgraded Activision Blizzard from an “outperform” rating to a “market perform” rating and set a $66.00 target price for the company. in a research report on Monday, October 9th. Finally, UBS Group lifted their target price on Activision Blizzard from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Seven equities 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 presently has an average rating of “Buy” and a consensus target price of $69.91.

The company has a quick ratio of 2.22, a current ratio of 2.25 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $53,200.00, a PE ratio of 48.19, a P/E/G ratio of 2.03 and a beta of 1.02.

In related news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $63.64, for a total value of $1,257,590.04. Following the completion of the transaction, the chief executive officer now directly owns 41,435 shares of the company’s stock, valued at $2,636,923.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.12% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in ATVI. Cornerstone Advisors Inc. boosted its holdings in Activision Blizzard by 321.5% in the third quarter. Cornerstone Advisors Inc. now owns 1,547 shares of the company’s stock valued at $100,000 after purchasing an additional 1,180 shares in the last quarter. Grove Bank & Trust boosted its holdings in Activision Blizzard by 261.7% in the third quarter. Grove Bank & Trust now owns 2,170 shares of the company’s stock valued at $140,000 after purchasing an additional 1,570 shares in the last quarter. Phocas Financial Corp. acquired a new position in Activision Blizzard in the second quarter valued at approximately $173,000. BB&T Investment Services Inc. acquired a new position in Activision Blizzard in the second quarter valued at approximately $189,000. Finally, Yorktown Management & Research Co Inc acquired a new position in Activision Blizzard in the second quarter valued at approximately $201,000. 86.48% of the stock is owned by hedge funds and other institutional investors.

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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.

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