Activision Blizzard (NASDAQ:ATVI) Receives “Neutral” Rating from MKM Partners

MKM Partners restated their neutral rating on shares of Activision Blizzard (NASDAQ:ATVI) in a report released on Friday morning, Briefing.com Automated Import reports. The firm currently has a $47.00 target price on the stock, up from their prior target price of $45.00.

Several other analysts have also recently commented on the company. Wedbush restated an outperform rating and set a $56.00 target price on shares of Activision Blizzard in a report on Tuesday, May 21st. Jefferies Financial Group assumed coverage on Activision Blizzard in a report on Thursday, July 11th. They set a buy rating and a $56.00 target price on the stock. Piper Jaffray Companies restated an overweight rating on shares of Activision Blizzard in a report on Monday, April 22nd. Buckingham Research assumed coverage on Activision Blizzard in a report on Friday, April 12th. They set a neutral rating on the stock. Finally, Zacks Investment Research upgraded Activision Blizzard from a sell rating to a hold rating in a report on Thursday, May 9th. Eleven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $60.03.

Shares of ATVI stock traded down $1.27 during trading hours on Friday, hitting $48.06. 10,668,183 shares of the company’s stock were exchanged, compared to its average volume of 6,126,563. The company has a 50-day moving average price of $47.29. The company has a current ratio of 2.63, a quick ratio of 2.61 and a debt-to-equity ratio of 0.23. The firm has a market cap of $36.84 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 2.40 and a beta of 0.90. Activision Blizzard has a 52 week low of $39.85 and a 52 week high of $84.68.

Activision Blizzard (NASDAQ:ATVI) last announced its earnings results on Thursday, August 8th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.20 by $0.14. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Activision Blizzard had a return on equity of 16.19% and a net margin of 23.90%. The business’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. As a group, research analysts expect that Activision Blizzard will post 1.98 earnings per share for the current year.

In other Activision Blizzard news, insider Christopher B. Walther sold 5,333 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $50.34, for a total transaction of $268,463.22. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Christopher B. Walther sold 2,333 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $45.91, for a total value of $107,108.03. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,332 shares of company stock worth $1,021,187. 1.29% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Trexquant Investment LP bought a new position in Activision Blizzard during the first quarter worth about $1,477,000. Davis R M Inc. acquired a new stake in shares of Activision Blizzard during the first quarter worth about $2,622,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Activision Blizzard by 32.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 99,750 shares of the company’s stock worth $4,541,000 after purchasing an additional 24,385 shares during the period. Conning Inc. raised its position in shares of Activision Blizzard by 6.0% during the first quarter. Conning Inc. now owns 16,570 shares of the company’s stock worth $754,000 after purchasing an additional 940 shares during the period. Finally, South Dakota Investment Council raised its position in shares of Activision Blizzard by 44.6% during the first quarter. South Dakota Investment Council now owns 13,300 shares of the company’s stock worth $606,000 after purchasing an additional 4,100 shares during the period. Hedge funds and other institutional investors own 86.58% of the company’s stock.

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.

Featured Article: When is a capital gain realized?

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

Receive News & Ratings for Activision Blizzard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Activision Blizzard and related companies with MarketBeat.com's FREE daily email newsletter.