UBS Group Reiterates "Buy" Rating for Activision Blizzard (NASDAQ:ATVI)

UBS Group Reiterates

The hedge fund held 6.38M shares of the public utilities company at the end of 2019Q1, valued at $270.95M, down from 8.16M at the end of the previous reported quarter.

Activision Blizzard, Inc (ATVI), a video game and film holding company, reported second-quarter results that beat its own and the market's forecasts as lower total costs helped mitigate the impact of a decline in sales, but its guidance for the full-year failed to meet analysts' expectations. Davis R M Inc. bought a new stake in Activision Blizzard during the 1st quarter valued at $2,622,000. The Japan-based Sumitomo Mitsui Trust has invested 0.12% in Activision Blizzard, Inc. Carroll Financial Associates Inc. now owns 1,082 shares of the company's stock worth $51,000 after purchasing an additional 394 shares in the last quarter. Finally, Kaizen Advisory LLC increased its stake in Activision Blizzard by 15.3% during the 4th quarter. Lindbrook Capital LLC now owns 1,083 shares of the company's stock worth $49,000 after purchasing an additional 274 shares in the last quarter.

ATVI stock opened at $48.06 on Friday. About 6.92M shares traded or 4.51% up from the average. The firm has a 50 day simple moving average of $47.29. The company has a market capitalization of $37.79 billion, a PE ratio of 20.64, a P/E/G ratio of 2.30 and a beta of 0.90. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.63 and a quick ratio of 2.61.

Looking ahead to the fiscal third quarter, the company expects to see EPS of $0.20 and revenues of $1.105. Revenues fell compared to Dollars 1.64 Billion in the second quarter of fiscal 2018, while earnings slipped from 0.62 per share past year. Activision Blizzard had a net margin of 23.90% and a return on equity of 16.19%. Activision Blizzard had 22 analyst reports since February 13, 2019 according to SRatingsIntel. During the same quarter a year ago, the firm posted $0.41 earnings per share. As a group, research analysts anticipate that Activision Blizzard, Inc. will post 1.98 EPS for the current year. Also, insider Christopher B. Walther sold 11,333 shares of the firm's stock in a transaction on Monday, July 1st.

In other news, insider Christopher B. Walther sold 2,333 shares of the firm's stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $44.00, for a total transaction of $102,652.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,332 shares of company stock valued at $1,021,187.

Since March 12, 2019, it had 1 buy, and 0 insider sales for $4.30 million activity.

A number of brokerages have commented on ATVI.

Activision Blizzard (NASDAQ:ATVI)'s stock had its "buy" rating reiterated by investment analysts at UBS Group in a report released on Friday, Automated Import reports. Nomura assumed coverage on shares of Activision Blizzard in a research report on Thursday, June 6th.

CEO Bobby Kotick states that their investment to restructure the company earlier this year, which resulted in 800 employees losing their jobs, has started to take effect and they're increasing the focus on development resources for their big franchises going forward. Bank of America maintained it with "Neutral" rating and $54 target in Wednesday, February 13 report. ValuEngine upgraded shares of Activision Blizzard from a "hold" rating to a "buy" rating in a report on Thursday, August 1st. It is positive, as 89 investors sold Activision Blizzard, Inc. shares while 195 reduced holdings.

Other equities analysts have also recently issued research reports about the stock.

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