Activision Blizzard, Inc. (NASDAQ:ATVI) was the target of a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 9,473,717 shares, a decline of 35.0% from the November 30th total of 14,571,513 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average daily volume of 7,062,442 shares, the short-interest ratio is presently 1.3 days.
In related 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 transaction of $1,257,590.04. Following the completion of the transaction, the chief executive officer now 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 Securities & Exchange Commission, which is available through the SEC website. 2.12% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Advisors Inc. grew its position in Activision Blizzard by 321.5% during the 3rd quarter. Cornerstone Advisors Inc. now owns 1,547 shares of the company’s stock worth $100,000 after acquiring an additional 1,180 shares during the last quarter. Grove Bank & Trust grew its position in Activision Blizzard by 261.7% during the 3rd quarter. Grove Bank & Trust now owns 2,170 shares of the company’s stock worth $140,000 after acquiring an additional 1,570 shares during the last quarter. Bronfman E.L. Rothschild L.P. grew its position in Activision Blizzard by 16.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,606 shares of the company’s stock worth $150,000 after acquiring an additional 363 shares during the last quarter. Phocas Financial Corp. bought a new stake in Activision Blizzard during the 2nd quarter worth approximately $173,000. Finally, BB&T Investment Services Inc. bought a new stake in Activision Blizzard during the 2nd quarter worth approximately $189,000. Institutional investors and hedge funds own 86.48% of the company’s stock.
ATVI has been the subject of several research analyst reports. Wedbush set a $75.00 price objective on Activision Blizzard and gave the stock a “buy” rating in a research report on Thursday, October 26th. Vetr raised Activision Blizzard from a “hold” rating to a “buy” rating and set a $64.58 price target for the company in a report 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 for the company in a report on Friday, October 27th. Cowen cut Activision Blizzard from an “outperform” rating to a “market perform” rating and set a $66.00 price target for the company. in a report on Monday, October 9th. Finally, UBS Group upped their price target on Activision Blizzard from $72.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Seven investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $69.91.
Shares of Activision Blizzard (ATVI) opened at $70.36 on Friday. The company has a market capitalization of $53,200.00, a P/E ratio of 48.19, a P/E/G ratio of 2.03 and a beta of 1.02. Activision Blizzard has a 12-month low of $38.38 and a 12-month high of $70.71. 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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