Activision Blizzard set to layoff hundreds of employees

Activision is about to lay off hundreds of employees

Report: Activision Blizzard to lay off hundreds of staff – TheSixthAxis

What about Activision Blizzard, Inc.? 122 funds took stakes and 269 increased stakes. 663.95 million shares or 2.95% more from 644.93 million shares in 2018Q2 were reported.

Telos Cap Mngmt holds 0.74% or 27,797 shs. Jennison Assoc Ltd Co owns 14.71M shs. Goldman Sachs Group assumed coverage on Activision Blizzard in a report on Wednesday, January 30th. (NASDAQ:ATVI). Montrusco Bolton Investments holds 0.88% or 172,076 shs.

The Activision Blizzard, Inc. EPS is seen in a range of $0.36 to $0.64, against the $0.61 reported a year ago. Strs Ohio holds 0.16% or 451,153 shs. Zeke Limited Liability Corp stated it has 13,650 shs. (NASDAQ:ATVI). Amer Natl Ins Com Tx reported 0.38% of its capital in Activision Blizzard, Inc. Fincl Counselors has 36,519 shs. Needham thinks that ATVI is worth Buy rating.

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Destiny will be out of the equation because of Bungie's departure - which will reportedly cost Activision Blizzard $400 million in annual revenue might we add - meaning Call of Duty: Black Ops 4 to shore up earnings for its publishers; and could Blizzard finally be leaving Activision? Now the security holds 15 "strong buy" ratings, two "buys", five "holds", and not a single "sell". The positive are 50%.

According to Bloomberg, the layoff is, unsurprisingly, part of the videogame developer and publisher's effort to restructure the company. The stock has "Outperform" rating by Wedbush on Monday, October 1. The stock of Activision Blizzard, Inc. (NASDAQ:ATVI) has "Overweight" rating given by KeyBanc Capital Markets. On Thursday, December 6 the rating was upgraded by JP Morgan to "Overweight". On Friday, August 31 the company was downgraded by Bank of America.

Representatives for Activision Blizzard say that employees who were laid off are being given a "comprehensive severance package, continued medical insurance, career coaching, job placement assistance", and profit sharing bonuses for 2018 for the Blizzard employees who qualify. It increased, as 43 investors sold ATVI shares while 206 reduced holdings. The stock underperformed the S&P500 by 22.23%. (ATVI) have dropped -30.9% since the company's last earnings report. These measures are meant to soften potential impact on Activision Blizzard's stock price, but paints a negative picture when placed alongside the layoffs. WCM Investment Management LLC now owns 1,830,191 shares of the company's stock worth $85,232,000 after purchasing an additional 812,137 shares during the last quarter. The Company has a profit margin of 8.1% and an operating of 20.4%. The firm operates through three divisions: Activision Publishing, Inc.; Blizzard Entertainment, Inc.; and King Digital Entertainment.52.92 is the P/E ratio.

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"Over the last few years, many of our non-development teams expanded to support various needs", Blizzard president J. Allen Brack said in a note to staff that was obtained by Kotaku. The titles are as follows: "Activision Blizzard (ATVI) Q3 Earnings: What's in the Cards?"

Taking a broader look at the analyst consensus, brokerage firms have a price target of $60.54 on Activision Blizzard (NASDAQ:ATVI).

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