Activision Blizzard (ATVI) Stock Price Down 2.6%

Shares of Activision Blizzard, Inc. (NASDAQ:ATVI) traded down 2.6% during trading on Friday . The company traded as low as $71.22 and last traded at $69.95. 371,741 shares were traded during mid-day trading, a decline of 95% from the average session volume of 7,042,055 shares. The stock had previously closed at $71.81.

A number of analysts have recently commented on the company. Barclays raised Activision Blizzard from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $79.00 to $86.00 in a research report on Monday. Zacks Investment Research raised Activision Blizzard from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research report on Wednesday, July 4th. Piper Jaffray Companies boosted their price target on Activision Blizzard to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 25th. BidaskClub raised Activision Blizzard from a “hold” rating to a “buy” rating in a research report on Saturday, September 29th. Finally, Robert W. Baird upped their price objective on Activision Blizzard from $81.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, September 13th. Eight equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $82.16.

The company has a current ratio of 2.98, a quick ratio of 2.96 and a debt-to-equity ratio of 0.42. The firm has a market cap of $59.70 billion, a P/E ratio of 35.38, a PEG ratio of 2.09 and a beta of 0.86.

Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Thursday, August 2nd. The company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.11. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.38 billion. Activision Blizzard had a net margin of 6.96% and a return on equity of 16.39%. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 EPS. As a group, equities analysts predict that Activision Blizzard, Inc. will post 2.49 earnings per share for the current year.

In related news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction that occurred on Monday, August 20th. The shares were 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 directly owns 20,324 shares of the company’s stock, valued at $1,396,258.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.29% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in ATVI. Ashburton Jersey Ltd acquired a new position in Activision Blizzard during the second quarter valued at $107,000. Quad Cities Investment Group LLC purchased a new position in Activision Blizzard in the second quarter valued at $114,000. NuWave Investment Management LLC purchased a new position in Activision Blizzard in the second quarter valued at $121,000. Kaizen Advisory LLC increased its holdings in Activision Blizzard by 155.2% in the second quarter. Kaizen Advisory LLC now owns 1,876 shares of the company’s stock valued at $143,000 after buying an additional 1,141 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Activision Blizzard in the second quarter valued at $156,000. Institutional investors own 87.14% of the company’s stock.

About Activision Blizzard (NASDAQ:ATVI)

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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