Activision Blizzard, Inc. (NASDAQ:ATVI) saw a large decline in short interest in the month of December. As of December 29th, there was short interest totalling 6,952,565 shares, a decline of 26.6% from the December 15th total of 9,473,717 shares. Based on an average daily volume of 4,240,179 shares, the days-to-cover ratio is presently 1.6 days. Currently, 1.0% of the company’s shares are short sold.
A number of research analysts recently weighed in on ATVI shares. Wedbush set a $75.00 price target on Activision Blizzard and gave the stock a “buy” rating in a research note on Thursday, October 26th. Vetr raised Activision Blizzard from a “hold” rating to a “buy” rating and set a $64.58 price target on the stock in a research note on Tuesday, October 10th. Zacks Investment Research raised Activision Blizzard from a “hold” rating to a “strong-buy” rating and set a $71.00 price target on the stock in a research note on Friday, October 27th. Cowen downgraded Activision Blizzard from an “outperform” rating to a “market perform” rating and set a $66.00 price target on the stock. in a research note on Monday, October 9th. Finally, UBS Group upped their price target on Activision Blizzard from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Seven analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Activision Blizzard presently has an average rating of “Buy” and an average target price of $69.91.
In other news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $63.64, for a total value of $1,257,590.04. Following the transaction, the chief executive officer now directly owns 41,435 shares of the company’s stock, valued at approximately $2,636,923.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.12% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in ATVI. Cornerstone Advisors Inc. grew its holdings in Activision Blizzard by 321.5% during the third quarter. Cornerstone Advisors Inc. now owns 1,547 shares of the company’s stock valued at $100,000 after purchasing an additional 1,180 shares during the period. Grove Bank & Trust grew its holdings in Activision Blizzard by 261.7% during the third quarter. Grove Bank & Trust now owns 2,170 shares of the company’s stock valued at $140,000 after purchasing an additional 1,570 shares during the period. Phocas Financial Corp. bought a new position in Activision Blizzard during the second quarter valued at $173,000. BB&T Investment Services Inc. bought a new position in Activision Blizzard during the second quarter valued at $189,000. Finally, Yorktown Management & Research Co Inc bought a new position in Activision Blizzard during the second quarter valued at $201,000. 86.48% of the stock is owned by institutional investors and hedge funds.
Activision Blizzard (NASDAQ:ATVI) opened at $70.36 on Friday. Activision Blizzard has a twelve month low of $38.38 and a twelve month high of $70.71. The firm has a market capitalization of $53,200.00, a price-to-earnings ratio of 48.19, a price-to-earnings-growth ratio of 1.94 and a beta of 1.02. The company has a current ratio of 2.25, a quick ratio of 2.22 and a debt-to-equity ratio of 0.44.
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About Activision Blizzard
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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