Short Interest in Activision Blizzard Inc. (ATVI) Grows By 25.5%
Activision Blizzard Inc. (NASDAQ:ATVI) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totalling 24,807,766 shares, a growth of 25.5% from the September 15th total of 19,773,783 shares. Based on an average trading volume of 10,341,666 shares, the short-interest ratio is currently 2.4 days. Approximately 3.6% of the shares of the stock are sold short.
In other news, Director Brian G. Kelly sold 386,927 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $40.51, for a total value of $15,674,412.77. Following the completion of the transaction, the director now directly owns 292,929 shares in the company, valued at $11,866,553.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher B. Walther sold 45,574 shares of the stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $42.73, for a total transaction of $1,947,377.02. The disclosure for this sale can be found here. 25.23% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC boosted its position in shares of Activision Blizzard by 88.7% in the second quarter. FMR LLC now owns 105,342,767 shares of the company’s stock worth $4,174,735,000 after buying an additional 49,511,148 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Activision Blizzard by 3.6% in the second quarter. Vanguard Group Inc. now owns 33,277,915 shares of the company’s stock worth $1,318,803,000 after buying an additional 1,166,054 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Activision Blizzard by 45.0% in the second quarter. Ameriprise Financial Inc. now owns 30,276,592 shares of the company’s stock worth $1,199,862,000 after buying an additional 9,390,129 shares in the last quarter. State Street Corp boosted its position in shares of Activision Blizzard by 2.6% in the second quarter. State Street Corp now owns 19,349,183 shares of the company’s stock worth $766,806,000 after buying an additional 492,609 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Activision Blizzard by 4.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 14,279,811 shares of the company’s stock worth $565,909,000 after buying an additional 650,789 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.
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Activision Blizzard (NASDAQ:ATVI) opened at 43.33 on Thursday. Activision Blizzard has a 1-year low of $26.49 and a 1-year high of $45.12. The company has a 50-day moving average of $43.35 and a 200-day moving average of $39.40. The firm has a market capitalization of $32.13 billion, a price-to-earnings ratio of 43.64 and a beta of 1.09.
Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.03. The firm earned $1.57 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Activision Blizzard had a net margin of 13.95% and a return on equity of 14.49%. The business’s revenue for the quarter was up 112.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.13 earnings per share. On average, equities analysts predict that Activision Blizzard will post $1.99 earnings per share for the current year.
Several research analysts have recently issued reports on the stock. Pacific Crest reiterated a “buy” rating on shares of Activision Blizzard in a report on Sunday, June 26th. Barclays PLC reiterated a “buy” rating on shares of Activision Blizzard in a report on Saturday, June 18th. Robert W. Baird reiterated an “outperform” rating and issued a $46.00 price objective (up from $43.00) on shares of Activision Blizzard in a report on Sunday, August 7th. BMO Capital Markets reissued a “market perform” rating and set a $38.00 target price on shares of Activision Blizzard in a research note on Wednesday, August 10th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $35.00 target price on shares of Activision Blizzard in a research note on Tuesday, July 12th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $44.96.
About Activision Blizzard
Activision Blizzard, Inc is a developer and publisher of online, personal computer (PC), video game console, handheld, mobile and tablet games. The Company operates through Activision Publishing, Inc (Activision) and its subsidiaries, Blizzard Entertainment, Inc (Blizzard) and its subsidiaries, and Other segments.
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