Activision Blizzard, Inc. (ATVI) Sees Large Drop in Short Interest
Activision Blizzard, Inc. (NASDAQ:ATVI) was the target of a significant drop in short interest in December. As of December 15th, there was short interest totalling 9,473,717 shares, a drop of 35.0% from the November 30th total of 14,571,513 shares. Currently, 1.4% of the company’s stock are short sold. Based on an average trading volume of 7,062,442 shares, the short-interest ratio is presently 1.3 days.
Activision Blizzard (ATVI) opened at $63.32 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.25 and a quick ratio of 2.22. The company has a market capitalization of $47,880.00, a PE ratio of 43.37, a PEG ratio of 2.19 and a beta of 1.03. Activision Blizzard has a 12 month low of $35.95 and a 12 month high of $67.40.
In related 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 sale, the chief executive officer now directly owns 41,435 shares in the company, valued at $2,636,923.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.12% of the stock is currently owned by company insiders.
ATVI has been the subject of several recent research reports. Cowen lowered Activision Blizzard from an “outperform” rating to a “market perform” rating and set a $66.00 price objective for the company. in a report on Monday, October 9th. Zacks Investment Research upgraded Activision Blizzard from a “hold” rating to a “strong-buy” rating and set a $71.00 price objective for the company in a report on Friday, October 27th. Piper Jaffray Companies restated an “overweight” rating and set a $69.00 target price on shares of Activision Blizzard in a report on Friday, September 8th. Goldman Sachs Group began coverage on Activision Blizzard in a report on Friday, September 8th. They set a “neutral” rating and a $65.00 target price on the stock. Finally, Vetr lowered Activision Blizzard from a “buy” rating to a “hold” rating and set a $59.97 target price on the stock. in a report on Monday, October 23rd. Six analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $69.39.
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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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