Activision Blizzard, Inc. (ATVI) Sees Significant Growth in Short Interest

Activision Blizzard, Inc. (NASDAQ:ATVI) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 21,693,522 shares, an increase of 57.3% from the August 15th total of 13,792,763 shares. Currently, 2.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 6,813,058 shares, the days-to-cover ratio is currently 3.2 days.

In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of the stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $68.70, for a total transaction of $1,357,580.70. Following the completion of the sale, the chief executive officer now directly owns 20,324 shares of the company’s stock, valued at approximately $1,396,258.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.29% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ashburton Jersey Ltd bought a new stake in Activision Blizzard in the second quarter worth $107,000. HRT Financial LLC bought a new stake in Activision Blizzard in the second quarter worth $688,000. Truvestments Capital LLC bought a new stake in Activision Blizzard in the second quarter worth $319,000. HM Payson & Co. bought a new stake in Activision Blizzard in the second quarter worth $209,000. Finally, Bank of New York Mellon Corp lifted its position in Activision Blizzard by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 7,884,115 shares of the company’s stock worth $601,716,000 after buying an additional 241,423 shares during the last quarter. Hedge funds and other institutional investors own 87.04% of the company’s stock.

ATVI has been the subject of a number of research analyst reports. BidaskClub lowered shares of Activision Blizzard from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. Zacks Investment Research raised shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a report on Wednesday, July 4th. Morgan Stanley increased their price objective on shares of Activision Blizzard from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, July 11th. Needham & Company LLC increased their price objective on shares of Activision Blizzard from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. Finally, Wedbush set a $85.00 price objective on shares of Activision Blizzard and gave the company a “buy” rating in a report on Friday, August 3rd. Nine research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $79.32.

NASDAQ ATVI opened at $81.27 on Friday. The company has a quick ratio of 2.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.42. The company has a market cap of $61.39 billion, a PE ratio of 39.64, a PEG ratio of 2.15 and a beta of 0.87. Activision Blizzard has a one year low of $57.29 and a one year high of $82.03.

Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Thursday, August 2nd. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.11. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.38 billion. Activision Blizzard had a return on equity of 18.00% and a net margin of 6.96%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 EPS. sell-side analysts expect that Activision Blizzard will post 2.49 EPS for the current year.

Activision Blizzard Company Profile

Activision Blizzard, Inc develops and distributes content and services on video game consoles, personal computers (PC), and mobile devices. The company operates through three segments: Activision Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment. The company develops, publishes, and sells interactive software products and entertainment content for the console and PC platforms through retail and digital channels, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies; and offers downloadable content.

Read More: How to Profit and Limit Losses With Stop Orders

Receive News & Ratings for Activision Blizzard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Activision Blizzard and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply