Activision Blizzard (NASDAQ:ATVI) Lifted to “Buy” at Nomura
Nomura upgraded shares of Activision Blizzard (NASDAQ:ATVI) from a neutral rating to a buy rating in a report published on Thursday morning, The Fly reports. They currently have $64.00 price target on the stock, up from their previous price target of $49.00.
Other equities analysts have also recently issued research reports about the stock. MKM Partners reaffirmed a neutral rating and set a $47.00 price objective (up previously from $45.00) on shares of Activision Blizzard in a research note on Friday, August 9th. Stifel Nicolaus boosted their price objective on shares of Activision Blizzard from $57.00 to $65.00 and gave the company a buy rating in a research note on Monday. Wedbush reaffirmed an outperform rating and set a $60.00 price objective on shares of Activision Blizzard in a research note on Friday, August 9th. Citigroup assumed coverage on shares of Activision Blizzard in a research note on Friday, June 7th. They set a neutral rating and a $47.00 price objective for the company. Finally, BMO Capital Markets raised shares of Activision Blizzard from a market perform rating to an outperform rating and boosted their price objective for the company from $43.00 to $60.00 in a research note on Wednesday, September 4th. Eight equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $61.71.
Shares of NASDAQ ATVI traded up $0.50 during midday trading on Thursday, hitting $55.95. The company’s stock had a trading volume of 6,396,465 shares, compared to its average volume of 9,280,532. The stock has a fifty day moving average price of $49.35 and a 200 day moving average price of $46.51. Activision Blizzard has a one year low of $39.85 and a one year high of $84.68. The company has a current ratio of 3.46, a quick ratio of 3.43 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $42.85 billion, a price-to-earnings ratio of 23.41, a P/E/G ratio of 2.22 and a beta of 0.89.
In related news, insider Christopher B. Walther sold 11,333 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $47.91, for a total transaction of $542,964.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher B. Walther sold 5,333 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.34, for a total transaction of $268,463.22. The disclosure for this sale can be found here. Insiders sold a total of 156,844 shares of company stock valued at $7,528,095 in the last ninety days. 1.29% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of ATVI. Capital Investment Advisory Services LLC raised its holdings in Activision Blizzard by 189.5% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 553 shares of the company’s stock worth $25,000 after purchasing an additional 362 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in Activision Blizzard in the 1st quarter worth $27,000. Redhawk Wealth Advisors Inc. bought a new position in Activision Blizzard in the 2nd quarter worth $29,000. Freestone Capital Holdings LLC bought a new position in Activision Blizzard in the 2nd quarter worth $18,898,000. Finally, Thor Advisors LLC bought a new position in Activision Blizzard in the 1st quarter worth $40,000. Institutional investors own 87.07% 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.
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