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Activision-Blizzard reportedly planning hundreds of job-cuts
12 February 2019, 11:41 | Joann Bryant
Activision Blizzard is facing mass layoffs next week according to reports
It has change of 0.37, from 2018Q2's 1.2. 122 funds acquired stakes and 269 increased stakes. Investors holded 644.93 million in 2018Q2 but now own 663.95 million shares or 2.95% more. Gilman Hill Asset Mngmt Ltd invested in 0.09% or 2,648 shs.
Activision Blizzard's troubles may be tied to the larger gaming landscape. Keep in mind that Investors should not rely only on an analyst's recommendation when taking a decision whether to buy, hold, or sell a stock. Activision could be vulnerable to more downgrades, too.
It is reported that Activision Blizzard are set to axe "hundreds" of employees as a result of poor financial showings. (NASDAQ:ATVI). Montrusco Bolton Investments holds 0.88% or 172,076 shs. The stock has a debt/capital of 0.25.
Captrust Fincl Advsrs holds 4,828 shs or 0.02% of its capital. This has forced the titan publishers like Activision, which experienced a decline in audience size, to shift their strategy.
Note: The author previously worked for Activision Blizzard. (NASDAQ:ATVI) for 10,061 shares.
Epic Games's "Fortnite" has been a thorn in the side for Activision Blizzard. (NASDAQ:ATVI) news were published by: Nasdaq.com which released: "Activision Blizzard (ATVI) Q3 Earnings: What's in the Cards?" 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".
Analysts are already responding to the bad news, with Benchmark dramatically cutting its price target to $68 from $87.
The loss of Destiny is speculated to cost Activision over $400 million in revenue by 2020, and shares dropped as much as 2.5 percent last Friday. Тherefore 50% are bullish. (NASDAQ:ATVI). Glenmede Tru Na reported 4,706 shs or 0% of all its holdings. The company has a market capitalization of $30.61 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 1.57 and a beta of 0.92. They issued a neutral rating and a $50.00 target price for the company. The stock has "Overweight" rating by KeyBanc Capital Markets on Wednesday, October 31. On Thursday, December 6 the rating was upgraded by JP Morgan to "Overweight". During the trading session, a total of 44.62 million shares were traded which represents a -272.18% decline from the average session volume which is 11.99M shares. 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. Activision Blizzard, Inc. has the potential to record 1.58 EPS for the current fiscal year, according to equities analysts. The firm operates through three divisions: Activision Publishing, Inc.; Blizzard Entertainment, Inc.; and King Digital Entertainment.52.92 is the P/E ratio. The price at which a seller projects that a buyer will buy a product.
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