Activision Blizzard (NASDAQ:ATVI) Announces Earnings Results

Financial News Live · Aug 4, 2022 01:11

Activision Blizzard (NASDAQ:ATVI – Get Rating) issued its quarterly earnings results on Monday. The company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.09, Fidelity Earnings reports. Activision Blizzard had a net margin of 24.57% and a return on equity of 10.33%. The business had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.57 billion. During the same period last year, the business earned $0.86 earnings per share. The business's quarterly revenue was down 14.6% on a year-over-year basis.

Activision Blizzard Price Performance

NASDAQ:ATVI traded up $0.85 during trading hours on Wednesday, reaching $80.17. 52,615 shares of the company traded hands, compared to its average volume of 4,390,737. The firm's 50-day moving average is $77.64 and its 200-day moving average is $78.77. The stock has a market cap of $62.68 billion, a P/E ratio of 33.05, a P/E/G ratio of 2.22 and a beta of 0.51. The company has a debt-to-equity ratio of 0.20, a current ratio of 5.45 and a quick ratio of 5.45. Activision Blizzard has a 1-year low of $56.40 and a 1-year high of $86.90.

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Wall Street Analyst Weigh In

ATVI has been the subject of a number of research analyst reports. Jefferies Financial Group reaffirmed a "buy" rating and issued a $95.00 price target on shares of Activision Blizzard in a research note on Wednesday, April 27th. Moffett Nathanson upgraded Activision Blizzard from a "neutral" rating to a "buy" rating and set a $95.00 price objective for the company in a report on Monday, July 25th. Eighteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $95.17.

Insider Transactions at Activision Blizzard

In other news, CAO Jesse Yang sold 10,812 shares of the firm's stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $78.68, for a total transaction of $850,688.16. Following the sale, the chief accounting officer now owns 62,272 shares in the company, valued at $4,899,560.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.77% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fairfield Bush & CO. purchased a new position in Activision Blizzard in the first quarter valued at about $41,000. American Century Companies Inc. raised its position in Activision Blizzard by 3.3% in the first quarter. American Century Companies Inc. now owns 21,919 shares of the company's stock valued at $1,756,000 after purchasing an additional 702 shares during the period. Sei Investments Co. increased its position in shares of Activision Blizzard by 8.9% during the first quarter. Sei Investments Co. now owns 61,175 shares of the company's stock worth $4,877,000 after acquiring an additional 5,014 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Activision Blizzard by 62.7% during the first quarter. Sequoia Financial Advisors LLC now owns 5,038 shares of the company's stock worth $404,000 after acquiring an additional 1,942 shares during the last quarter. Finally, Baird Financial Group Inc. increased its position in shares of Activision Blizzard by 58.9% during the first quarter. Baird Financial Group Inc. now owns 122,289 shares of the company's stock worth $9,797,000 after acquiring an additional 45,326 shares during the last quarter. Institutional investors and hedge funds own 83.11% of the company's stock.

Activision Blizzard Company Profile

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Activision Blizzard, Inc, together with its subsidiaries, develops and publishes interactive entertainment content and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Activision, Blizzard, and King. It develops and distributes content and services on video game consoles, personal computers, and mobile devices, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies that distribute Activision and Blizzard products.