Activision Blizzard (NASDAQ:ATVI)‘s stock had its “buy” rating reaffirmed by stock analysts at Ascendiant Capital Markets in a research note issued on Wednesday, Briefing.com Automated Import reports. They currently have a $55.00 price objective on the stock, up from their previous price objective of $53.00. Ascendiant Capital Markets’ price objective would suggest a potential upside of 20.88% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Morgan Stanley reissued an “overweight” rating and issued a $57.00 price objective (up from $55.00) on shares of Activision Blizzard in a research report on Friday, August 9th. William Blair reissued an “outperform” rating on shares of Activision Blizzard in a research report on Friday, May 3rd. Bank of America upped their price objective on shares of Activision Blizzard from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Credit Suisse Group decreased their price objective on shares of Activision Blizzard from $65.00 to $64.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Zacks Investment Research raised shares of Activision Blizzard from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. Twelve analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $59.68.

NASDAQ:ATVI traded down $2.63 on Wednesday, reaching $45.50. The stock had a trading volume of 437,372 shares, compared to its average volume of 9,501,309. 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 stock’s 50-day moving average price is $47.42. The company has a market cap of $36.92 billion, a PE ratio of 19.26, a P/E/G ratio of 2.40 and a beta of 0.90. Activision Blizzard has a 12-month low of $39.85 and a 12-month high of $84.68.

Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.14. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Activision Blizzard had a net margin of 23.69% and a return on equity of 15.81%. The firm’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 EPS. As a group, equities analysts predict that Activision Blizzard will post 1.98 EPS for the current fiscal year.

In related news, insider Christopher B. Walther sold 2,333 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $44.00, for a total transaction of $102,652.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher B. Walther sold 5,333 shares of the 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 18,999 shares of company stock worth $914,079. Company insiders own 1.31% of the company’s stock.

Large investors have recently made changes to their positions in the business. Mackenzie Financial Corp boosted its holdings in shares of Activision Blizzard by 109.6% in the second quarter. Mackenzie Financial Corp now owns 24,136 shares of the company’s stock valued at $1,139,000 after acquiring an additional 12,619 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Activision Blizzard by 7.1% in the second quarter. Invesco Ltd. now owns 19,334,866 shares of the company’s stock valued at $912,605,000 after acquiring an additional 1,289,300 shares in the last quarter. Compagnie Lombard Odier SCmA boosted its holdings in shares of Activision Blizzard by 592.1% in the second quarter. Compagnie Lombard Odier SCmA now owns 90,028 shares of the company’s stock valued at $4,248,000 after acquiring an additional 77,020 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Activision Blizzard by 1.1% in the second quarter. Vanguard Group Inc. now owns 57,097,169 shares of the company’s stock valued at $2,694,986,000 after acquiring an additional 599,719 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in shares of Activision Blizzard by 1.1% in the second quarter. Sterling Capital Management LLC now owns 1,391,076 shares of the company’s stock valued at $65,659,000 after acquiring an additional 15,023 shares in the last quarter. Institutional investors own 86.34% 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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Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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