Activision Blizzard, Inc. (ATVI) Sees Large Drop in Short Interest

Activision Blizzard, Inc. (NASDAQ:ATVI) was the target of a large decrease in short interest in the month of December. As of December 15th, there was short interest totalling 9,473,717 shares, a decrease of 35.0% from the November 30th total of 14,571,513 shares. Based on an average daily trading volume, of 7,062,442 shares, the short-interest ratio is presently 1.3 days. Approximately 1.4% of the shares of the company are short sold.

Several analysts recently issued reports on the stock. Zacks Investment Research raised shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Tuesday. BidaskClub downgraded shares of Activision Blizzard from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Vetr upgraded shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $64.25 target price for the company in a research note on Wednesday, September 27th. BMO Capital Markets reiterated a “market perform” rating and set a $62.00 target price (up from $60.00) on shares of Activision Blizzard in a research note on Wednesday, September 20th. Finally, Hilliard Lyons upgraded shares of Activision Blizzard from an “underperform” rating to a “neutral” rating in a research note on Wednesday, November 8th. Five research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $69.39.

In related news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $63.64, for a total transaction of $1,257,590.04. Following the completion of the sale, the chief executive officer now directly owns 41,435 shares of the company’s stock, valued at approximately $2,636,923.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.12% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. Macquarie Group Ltd. raised its stake in shares of Activision Blizzard by 0.4% in the 2nd quarter. Macquarie Group Ltd. now owns 12,345 shares of the company’s stock valued at $711,000 after buying an additional 45 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of Activision Blizzard by 0.7% in the 2nd quarter. D.A. Davidson & CO. now owns 8,926 shares of the company’s stock valued at $513,000 after buying an additional 58 shares in the last quarter. Commerce Bank raised its stake in shares of Activision Blizzard by 1.7% in the 2nd quarter. Commerce Bank now owns 11,883 shares of the company’s stock valued at $684,000 after buying an additional 199 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Activision Blizzard by 0.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,513 shares of the company’s stock valued at $2,966,000 after buying an additional 204 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Activision Blizzard by 0.4% in the 2nd quarter. Nordea Investment Management AB now owns 60,106 shares of the company’s stock valued at $3,460,000 after buying an additional 243 shares in the last quarter. Institutional investors own 86.48% of the company’s stock.

Activision Blizzard (NASDAQ ATVI) opened at $65.31 on Thursday. Activision Blizzard has a one year low of $36.64 and a one year high of $67.40. The stock has a market cap of $49,380.00, a price-to-earnings ratio of 44.73, a PEG ratio of 1.86 and a beta of 1.02. The company has a quick ratio of 2.22, a current ratio of 2.25 and a debt-to-equity ratio of 0.44.

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Activision Blizzard Company Profile

Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. The Company develops and distributes content and services across various gaming platforms, including video game consoles, personal computers (PC) and mobile devices. Its segments include Activision Publishing, Inc (Activision), Blizzard Entertainment, Inc (Blizzard), King Digital Entertainment (King) and Other.

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