Activision Blizzard, Inc (NASDAQ:ATVI) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 12,329,594 shares, a decline of 16.0% from the October 13th total of 14,682,624 shares. Currently, 1.8% of the shares of the stock are short sold. Based on an average trading volume of 5,145,778 shares, the days-to-cover ratio is presently 2.4 days.
Shares of Activision Blizzard (NASDAQ ATVI) opened at $64.03 on Wednesday. Activision Blizzard has a 1-year low of $35.12 and a 1-year high of $67.03. The firm has a market capitalization of $48,103.05, a price-to-earnings ratio of 28.92, a price-to-earnings-growth ratio of 2.22 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.25 and a quick ratio of 2.22.
In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $61.32, for a total value of $1,211,744.52. Following the sale, the chief executive officer now owns 48,472 shares of the company’s stock, valued at approximately $2,972,303.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.12% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ATVI. Janus Henderson Group PLC lifted its stake in shares of Activision Blizzard by 820.8% during the 2nd quarter. Janus Henderson Group PLC now owns 20,298,735 shares of the company’s stock worth $1,168,587,000 after purchasing an additional 18,094,334 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Activision Blizzard by 82.6% during the 2nd quarter. Jennison Associates LLC now owns 22,287,591 shares of the company’s stock worth $1,283,097,000 after purchasing an additional 10,083,717 shares during the last quarter. Capital World Investors lifted its stake in shares of Activision Blizzard by 23.8% during the 2nd quarter. Capital World Investors now owns 22,538,000 shares of the company’s stock worth $1,297,513,000 after purchasing an additional 4,327,000 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Activision Blizzard by 4.8% during the 2nd quarter. Vanguard Group Inc. now owns 48,396,938 shares of the company’s stock worth $2,786,211,000 after purchasing an additional 2,200,995 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in shares of Activision Blizzard by 108.6% during the 3rd quarter. Prudential Financial Inc. now owns 3,184,687 shares of the company’s stock worth $205,444,000 after purchasing an additional 1,657,730 shares during the last quarter. Hedge funds and other institutional investors own 86.15% of the company’s stock.
ATVI has been the topic of a number of research reports. Stifel Nicolaus reaffirmed a “buy” rating on shares of Activision Blizzard in a research note on Sunday, September 10th. Wedbush set a $75.00 price objective on Activision Blizzard and gave the stock a “buy” rating in a research note on Thursday, October 26th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $69.00 price objective on shares of Activision Blizzard in a research note on Friday, September 8th. Vetr raised Activision Blizzard from a “hold” rating to a “buy” rating and set a $64.58 price objective on the stock in a research note on Tuesday, October 10th. Finally, Zacks Investment Research raised Activision Blizzard from a “hold” rating to a “strong-buy” rating and set a $71.00 price objective on the stock in a research note on Friday, October 27th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $68.75.
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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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