Jefferies Financial Group Begins Coverage on Activision Blizzard (NASDAQ:ATVI)

Jefferies Financial Group initiated coverage on shares of Activision Blizzard (NASDAQ:ATVI) in a report issued on Thursday, BenzingaRatingsTable reports. The firm issued a buy rating and a $56.00 price objective on the stock. Jefferies Financial Group also issued estimates for Activision Blizzard’s FY2021 earnings at $2.73 EPS.

A number of other brokerages have also commented on ATVI. Goldman Sachs Group set a $27.00 price target on shares of Melco Resorts & Entertainment and gave the company a buy rating in a research note on Tuesday, May 28th. Citigroup assumed coverage on shares of UBISOFT ENTMT S/ADR in a research note on Friday, June 7th. They issued a buy rating on the stock. BidaskClub raised shares of Zillow Group from a hold rating to a buy rating in a report on Wednesday, May 22nd. Nomura downgraded shares of Korea Electric Power from a buy rating to a neutral rating in a report on Thursday, June 6th. Finally, Stephens set a $37.00 price objective on shares of Talos Energy and gave the company a buy rating in a report on Wednesday, May 22nd. Fourteen analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $60.03.

Shares of ATVI opened at $47.20 on Thursday. Activision Blizzard has a 52 week low of $39.85 and a 52 week high of $84.68. The firm has a market cap of $36.16 billion, a price-to-earnings ratio of 19.75, a P/E/G ratio of 2.35 and a beta of 0.90. The firm has a 50-day moving average of $45.61. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.61 and a current ratio of 2.63.

Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.13. Activision Blizzard had a net margin of 23.90% and a return on equity of 16.19%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the business earned $0.38 EPS. Activision Blizzard’s quarterly revenue was down 8.7% on a year-over-year basis. Analysts anticipate that Activision Blizzard will post 1.98 earnings per share for the current year.

In related news, insider Christopher B. Walther sold 11,333 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $47.91, for a total value of $542,964.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher B. Walther sold 2,333 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $44.00, for a total transaction of $102,652.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,999 shares of company stock valued at $752,724. 1.29% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Massey Quick Simon & CO. LLC bought a new position in Activision Blizzard in the 1st quarter valued at approximately $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in Activision Blizzard in the 1st quarter valued at approximately $27,000. Thor Advisors LLC bought a new position in Activision Blizzard in the 1st quarter valued at approximately $40,000. Wealthcare Advisory Partners LLC increased its position in Activision Blizzard by 51.5% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 1,030 shares of the company’s stock valued at $48,000 after acquiring an additional 350 shares during the period. Finally, Lindbrook Capital LLC increased its position in Activision Blizzard by 33.9% in the 1st quarter. Lindbrook Capital LLC now owns 1,083 shares of the company’s stock valued at $49,000 after acquiring an additional 274 shares during the period. 86.84% of the stock is owned by institutional investors and hedge funds.

About Activision Blizzard

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. It 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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