TheStreet downgraded shares of Activision Blizzard (NASDAQ:ATVI) from a b rating to a c+ rating in a report issued on Thursday.

ATVI has been the subject of a number of other research reports. BidaskClub downgraded Activision Blizzard from a hold rating to a sell rating in a research note on Thursday, September 6th. BTIG Research upped their price objective on Activision Blizzard from $80.00 to $88.00 and gave the company a buy rating in a research note on Tuesday, October 16th. KeyCorp reduced their price objective on Activision Blizzard from $90.00 to $85.00 and set an overweight rating for the company in a research note on Wednesday, October 31st. Argus restated a buy rating and issued a $90.00 price objective (up previously from $81.00) on shares of Activision Blizzard in a research note on Friday, September 21st. Finally, SunTrust Banks set a $85.00 price objective on Activision Blizzard and gave the company a buy rating in a research note on Wednesday, October 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $77.62.

Shares of Activision Blizzard stock opened at $55.01 on Thursday. Activision Blizzard has a 12-month low of $53.50 and a 12-month high of $84.68. The firm has a market cap of $49.63 billion, a P/E ratio of 26.83, a P/E/G ratio of 1.73 and a beta of 1.11. The company has a quick ratio of 2.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.42.

Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings results on Thursday, November 8th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.03). The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.66 billion. Activision Blizzard had a return on equity of 16.39% and a net margin of 6.96%. The company’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 EPS. On average, equities analysts anticipate that Activision Blizzard will post 2.49 EPS for the current year.

In other news, CEO Riccardo Zacconi sold 19,761 shares of the stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $68.70, for a total transaction of $1,357,580.70. Following the transaction, the chief executive officer now directly owns 20,324 shares in the company, valued at approximately $1,396,258.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.29% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. FMR LLC increased its position in shares of Activision Blizzard by 4.8% during the 3rd quarter. FMR LLC now owns 96,798,252 shares of the company’s stock valued at $8,052,646,000 after purchasing an additional 4,476,835 shares during the last quarter. BlackRock Inc. increased its position in shares of Activision Blizzard by 0.4% during the 2nd quarter. BlackRock Inc. now owns 51,100,165 shares of the company’s stock valued at $3,899,967,000 after purchasing an additional 209,193 shares during the last quarter. Jennison Associates LLC increased its position in shares of Activision Blizzard by 4.8% during the 3rd quarter. Jennison Associates LLC now owns 14,707,945 shares of the company’s stock valued at $1,223,554,000 after purchasing an additional 679,532 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Activision Blizzard by 7.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,436,812 shares of the company’s stock valued at $701,858,000 after purchasing an additional 552,697 shares during the last quarter. Finally, Egerton Capital UK LLP increased its position in shares of Activision Blizzard by 29.1% during the 2nd quarter. Egerton Capital UK LLP now owns 7,286,230 shares of the company’s stock valued at $556,085,000 after purchasing an additional 1,642,285 shares during the last quarter. Hedge funds and other institutional investors own 86.92% of the company’s stock.

Activision Blizzard Company Profile

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. The company 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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