BidaskClub cut shares of Activision Blizzard (NASDAQ:ATVI) from a buy rating to a hold rating in a research report sent to investors on Wednesday, BidAskClub reports.

Other analysts have also issued reports about the stock. Nomura initiated coverage on shares of Activision Blizzard in a research report on Thursday, June 6th. They issued a neutral rating and a $49.00 price target on the stock. William Blair reiterated an outperform rating on shares of Activision Blizzard in a research report on Friday, May 3rd. Credit Suisse Group decreased their target price on shares of Activision Blizzard from $65.00 to $64.00 and set an outperform rating on the stock in a research report on Thursday, August 8th. Zacks Investment Research upgraded shares of Activision Blizzard from a sell rating to a hold rating in a research report on Thursday, May 9th. Finally, Jefferies Financial Group began coverage on shares of Activision Blizzard in a research report on Thursday, July 11th. They set a buy rating and a $56.00 target price on the stock. Twelve research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $59.68.

ATVI stock opened at $46.66 on Wednesday. The company’s 50 day simple moving average is $47.37 and its 200-day simple moving average is $45.68. The firm has a market capitalization of $34.72 billion, a PE ratio of 19.52, a P/E/G ratio of 1.79 and a beta of 0.90. Activision Blizzard has a 12 month low of $39.85 and a 12 month high of $84.68. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.46 and a quick ratio of 2.61.

Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.20 by $0.14. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. Activision Blizzard had a net margin of 23.69% and a return on equity of 15.54%. The company’s quarterly revenue was down 12.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 earnings per share. As a group, sell-side analysts anticipate that Activision Blizzard will post 2 earnings per share for the current year.

In other news, insider Christopher B. Walther sold 5,333 shares of Activision Blizzard stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $50.34, for a total value of $268,463.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher B. Walther sold 11,333 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $47.91, for a total transaction of $542,964.03. The disclosure for this sale can be found here. Over the last three months, insiders have sold 153,844 shares of company stock valued at $7,359,670. 1.29% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. HL Financial Services LLC boosted its stake in Activision Blizzard by 3.9% during the 1st quarter. HL Financial Services LLC now owns 5,746 shares of the company’s stock valued at $262,000 after purchasing an additional 216 shares during the period. Cornerstone Advisors Inc. raised its position in shares of Activision Blizzard by 13.1% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,972 shares of the company’s stock worth $93,000 after buying an additional 229 shares in the last quarter. Regentatlantic Capital LLC raised its position in shares of Activision Blizzard by 4.5% during the 1st quarter. Regentatlantic Capital LLC now owns 5,971 shares of the company’s stock worth $272,000 after buying an additional 257 shares in the last quarter. Dowling & Yahnke LLC raised its position in shares of Activision Blizzard by 1.0% during the 2nd quarter. Dowling & Yahnke LLC now owns 26,404 shares of the company’s stock worth $1,246,000 after buying an additional 258 shares in the last quarter. Finally, Lindbrook Capital LLC raised its position in shares of Activision Blizzard by 33.9% during the 1st quarter. Lindbrook Capital LLC now owns 1,083 shares of the company’s stock worth $49,000 after buying an additional 274 shares in the last quarter. 86.34% of the stock is owned by hedge funds and other institutional investors.

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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