Activision Blizzard Sees Unusually Large Options Volume (ATVI)
Activision Blizzard, Inc (NASDAQ:ATVI) was the target of unusually large options trading activity on Monday. Stock traders purchased 16,616 call options on the company. This is an increase of approximately 241% compared to the average daily volume of 4,866 call options.
In other news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $55.45, for a total transaction of $1,095,747.45. Following the transaction, the chief executive officer now owns 55,509 shares of the company’s stock, valued at approximately $3,077,974.05. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.12% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in ATVI. Franklin Resources Inc. raised its position in Activision Blizzard by 6.0% in the fourth quarter. Franklin Resources Inc. now owns 109,439 shares of the company’s stock valued at $3,951,000 after buying an additional 6,216 shares during the period. Thrivent Financial for Lutherans raised its position in Activision Blizzard by 6.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 24,140 shares of the company’s stock valued at $872,000 after buying an additional 1,510 shares during the period. Kentucky Retirement Systems bought a new position in Activision Blizzard during the fourth quarter valued at approximately $1,792,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Activision Blizzard during the fourth quarter valued at approximately $799,000. Finally, Highbridge Capital Management LLC raised its position in Activision Blizzard by 15,075.0% in the fourth quarter. Highbridge Capital Management LLC now owns 584,024 shares of the company’s stock valued at $21,089,000 after buying an additional 587,924 shares during the period. 87.45% of the stock is currently owned by institutional investors and hedge funds.
Shares of Activision Blizzard (NASDAQ:ATVI) opened at 61.33 on Thursday. The stock’s 50 day moving average is $59.22 and its 200 day moving average is $50.46. Activision Blizzard has a 12 month low of $35.12 and a 12 month high of $62.39. The firm has a market cap of $46.22 billion, a PE ratio of 45.00 and a beta of 1.07.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings data on Thursday, May 4th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.11. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.09 billion. Activision Blizzard had a return on equity of 16.90% and a net margin of 14.63%. The company’s revenue was up 31.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.23 EPS. On average, analysts anticipate that Activision Blizzard will post $2.00 earnings per share for the current fiscal year.
Several brokerages have recently weighed in on ATVI. UBS AG reissued a “buy” rating and set a $60.00 price target (up previously from $57.00) on shares of Activision Blizzard in a research report on Friday, May 5th. Wedbush set a $63.00 price target on shares of Activision Blizzard and gave the company a “buy” rating in a research report on Saturday, May 6th. Jefferies Group LLC reissued a “buy” rating and set a $68.00 price target on shares of Activision Blizzard in a research report on Thursday, July 13th. Piper Jaffray Companies reissued an “overweight” rating on shares of Activision Blizzard in a research report on Tuesday. Finally, Vetr cut shares of Activision Blizzard from a “strong-buy” rating to a “buy” rating and set a $67.48 price target on the stock. in a research report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $59.78.
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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