Activision will be hit with substantial layoffs next week

Activision will be hit with substantial layoffs next week

663.95 million shares or 2.95% more from 644.93 million shares in 2018Q2 were reported. Gilman Hill Asset Mngmt Ltd invested in 0.09% or 2,648 shs. Icon Advisers Comm has invested 0.09% of its capital in Activision Blizzard, Inc. (NASDAQ:ATVI). Tiverton Asset Management Ltd Llc owns 20,388 shares or 0.08% of their USA portfolio. Cap Inv Counsel Inc has invested 0.5% in Activision Blizzard, Inc.

Not surprising in a year where the publisher lost its golden goose Destiny, creator Bungie's partnership with Activision Blizzard coming to an end and the studio going independent. (NASDAQ:ATVI). Renaissance Grp Limited holds 393,290 shares or 1.15% of its portfolio. Cleararc holds 19,697 shs or 0.21% of its capital. Activision Blizzard includes both Activision and Blizzard Entertainment, as well as mobile games developer King Digital. (NASDAQ:ATVI) for 10,061 shares. Asset Management One Limited reported 1.20M shs.

Epic Games's "Fortnite" has been a thorn in the side for Activision Blizzard. Activision Blizzard presently has a consensus rating of "Buy" and a consensus price target of $67.34. However, Kotaku reports that job-cuts have been in the offing for Activision-Blizzard for a while: "There's been no official news from the publisher yet, but we first heard word of upcoming layoffs late a year ago". On average, these analysts now have a Strong Buy recommendation with a mean rating of 4.45. Тherefore 50% are bullish. (NASDAQ:ATVI) earned "Market Perform" rating by Oppenheimer on Tuesday, January 29. Needham thinks that ATVI is worth Buy rating. On Friday, August 31 the company was downgraded by Bank of America. (NASDAQ: ATVI), there are now ratings available from 22 different stock market analysts who have all given their professional opinions. On Monday, October 1 Wedbush maintained the shares of ATVI in report with "Outperform" rating. On Thursday, December 6 JP Morgan upgraded the shares of ATVI in report to "Overweight" rating. The stock decreased 7.60% or $3.3 during the last trading session, reaching $40.11. The stock underperformed the S&P500 by 22.23%.

Layoffs are likely to be announced by mega publisher Activision Blizzard, owners of Call of Duty and Overwatch, at their investor call tomorrow, February 12th. During the same period in the prior year, the company posted $0.25 EPS. Activision Blizzard had a net margin of 8.07% and a return on equity of 15.44%. Activision Blizzard, Inc. now has a market cap of $30.99B, while its P/E ratio stands at 25.43, while its P/E earnings growth sits at 4.33, with a beta of 0.88. Activision Blizzard has a 52-week low of $42.53 and a 52-week high of $84.68.