KeyCorp Reaffirms Overweight Rating for Activision Blizzard (ATVI)

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KeyCorp restated their overweight rating on shares of Activision Blizzard (NASDAQ:ATVI) in a research note issued to investors on Friday, MarketBeat.com reports. KeyCorp currently has a $80.00 price target on the stock, down from their previous price target of $85.00.

A number of other equities analysts have also commented on the stock. BidaskClub lowered shares of Activision Blizzard from a hold rating to a sell rating in a research report on Thursday. ValuEngine lowered shares of Activision Blizzard from a buy rating to a hold rating in a research report on Tuesday. Wedbush reaffirmed an outperform rating and set a $100.00 price target on shares of Activision Blizzard in a research report on Monday, November 5th. Stifel Nicolaus lowered their price target on shares of Activision Blizzard from $82.00 to $78.00 and set a buy rating on the stock in a research report on Wednesday, October 31st. Finally, MKM Partners lowered their price target on shares of Activision Blizzard to $71.00 and set a neutral rating on the stock in a research report on Tuesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $77.62.

Shares of NASDAQ ATVI traded down $7.78 during mid-day trading on Friday, reaching $55.01. 34,539,389 shares of the company were exchanged, compared to its average volume of 9,550,354. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.96 and a current ratio of 2.98. The stock has a market cap of $49.63 billion, a PE ratio of 26.83, a P/E/G ratio of 1.73 and a beta of 1.11. Activision Blizzard has a twelve month low of $53.50 and a twelve month high of $84.68.

Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Thursday, November 8th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.66 billion. Activision Blizzard had a return on equity of 16.39% and a net margin of 6.96%. The business’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 EPS. As a group, analysts predict that Activision Blizzard will post 2.49 EPS for the current fiscal year.

In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of the firm’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $68.70, for a total value 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 approximately $1,396,258.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.29% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. increased its holdings in Activision Blizzard by 16.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,524 shares of the company’s stock valued at $345,000 after buying an additional 634 shares during the period. Wetherby Asset Management Inc. boosted its stake in shares of Activision Blizzard by 7.8% in the 2nd quarter. Wetherby Asset Management Inc. now owns 9,385 shares of the company’s stock valued at $716,000 after purchasing an additional 680 shares in the last quarter. Mission Wealth Management LP boosted its stake in shares of Activision Blizzard by 13.5% in the 2nd quarter. Mission Wealth Management LP now owns 6,174 shares of the company’s stock valued at $471,000 after purchasing an additional 732 shares in the last quarter. Peregrine Capital Management LLC boosted its stake in shares of Activision Blizzard by 0.3% in the 2nd quarter. Peregrine Capital Management LLC now owns 243,301 shares of the company’s stock valued at $18,569,000 after purchasing an additional 735 shares in the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in shares of Activision Blizzard by 13.8% in the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 6,420 shares of the company’s stock valued at $490,000 after purchasing an additional 780 shares in the last quarter. 86.92% of the stock is currently owned by hedge funds and other institutional investors.

Activision Blizzard Company Profile

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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Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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