Short Interest in Activision Blizzard, Inc. (ATVI) Decreases By 26.6%

Activision Blizzard, Inc. (NASDAQ:ATVI) was the recipient of a significant decrease in short interest in December. As of December 29th, there was short interest totalling 6,952,565 shares, a decrease of 26.6% from the December 15th total of 9,473,717 shares. Based on an average trading volume of 4,240,179 shares, the days-to-cover ratio is presently 1.6 days. Approximately 1.0% of the shares of the stock are short sold.

In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of the stock in a transaction on 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 directly owns 41,435 shares in the company, valued at $2,636,923.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.12% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Cornerstone Advisors Inc. boosted its holdings in Activision Blizzard by 321.5% in the third quarter. Cornerstone Advisors Inc. now owns 1,547 shares of the company’s stock valued at $100,000 after acquiring an additional 1,180 shares during the last quarter. Grove Bank & Trust boosted its holdings in Activision Blizzard by 261.7% in the third quarter. Grove Bank & Trust now owns 2,170 shares of the company’s stock valued at $140,000 after acquiring an additional 1,570 shares during the last quarter. Phocas Financial Corp. bought a new position in Activision Blizzard in the second quarter valued at about $173,000. Chicago Equity Partners LLC bought a new position in Activision Blizzard in the third quarter valued at about $204,000. Finally, Tiedemann Wealth Management LLC bought a new position in Activision Blizzard in the third quarter valued at about $213,000. Institutional investors and hedge funds own 86.49% of the company’s stock.

Several research firms have issued reports on ATVI. Vetr lowered Activision Blizzard from a “buy” rating to a “hold” rating and set a $69.64 price objective for the company. in a research note on Thursday, January 11th. KeyCorp set a $80.00 price objective on Activision Blizzard and gave the stock a “buy” rating in a research note on Monday, January 8th. Zacks Investment Research lowered Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Wedbush set a $75.00 price objective on Activision Blizzard and gave the stock a “buy” rating in a research note on Thursday, January 11th. Finally, Macquarie increased their price objective on Activision Blizzard from $64.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 10th. Seven investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $69.91.

Activision Blizzard (ATVI) opened at $70.36 on Tuesday. The stock has a market capitalization of $53,200.00, a PE ratio of 48.19, a P/E/G ratio of 2.06 and a beta of 1.02. Activision Blizzard has a 1-year low of $38.38 and a 1-year high of $70.71. The company has a quick ratio of 2.22, a current ratio of 2.25 and a debt-to-equity ratio of 0.44.

Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.11. Activision Blizzard had a return on equity of 17.56% and a net margin of 15.90%. equities analysts forecast that Activision Blizzard will post 2.1 EPS for the current year.

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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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