Activision Blizzard, Inc. (NASDAQ:ATVI) Short Interest Down 6.3% in December

Activision Blizzard, Inc. (NASDAQ:ATVI) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 25,340,000 shares, a drop of 6.3% from the December 15th total of 27,050,000 shares. Currently, 3.4% of the company’s shares are short sold. Based on an average daily volume of 6,120,000 shares, the short-interest ratio is presently 4.1 days.

ATVI traded up $0.23 on Thursday, hitting $59.87. The company had a trading volume of 1,363,540 shares, compared to its average volume of 4,336,178. The stock has a fifty day moving average price of $57.83 and a 200-day moving average price of $53.03. Activision Blizzard has a 12-month low of $39.85 and a 12-month high of $60.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.38 and a current ratio of 3.43. The stock has a market capitalization of $46.13 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 1.98 and a beta of 0.83.

Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Thursday, November 7th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.09. Activision Blizzard had a return on equity of 13.91% and a net margin of 23.66%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The firm’s quarterly revenue was down 27.1% compared to the same quarter last year. Analysts forecast that Activision Blizzard will post 2.02 EPS for the current fiscal year.

In other Activision Blizzard news, COO Collister Johnson sold 3,800 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $52.43, for a total value of $199,234.00. Following the sale, the chief operating officer now owns 280,983 shares in the company, valued at $14,731,938.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.29% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. AE Wealth Management LLC grew its stake in Activision Blizzard by 3.1% in the fourth quarter. AE Wealth Management LLC now owns 26,316 shares of the company’s stock valued at $1,564,000 after purchasing an additional 796 shares during the last quarter. Deane Retirement Strategies Inc. purchased a new position in Activision Blizzard in the fourth quarter valued at about $1,925,000. Coastline Trust Co grew its stake in Activision Blizzard by 2.5% in the fourth quarter. Coastline Trust Co now owns 52,220 shares of the company’s stock valued at $3,103,000 after purchasing an additional 1,295 shares during the last quarter. Ridgewood Investments LLC purchased a new position in Activision Blizzard in the fourth quarter valued at about $338,000. Finally, Ingalls & Snyder LLC grew its stake in Activision Blizzard by 113.1% in the fourth quarter. Ingalls & Snyder LLC now owns 55,119 shares of the company’s stock valued at $3,275,000 after purchasing an additional 29,253 shares during the last quarter. Institutional investors own 88.55% of the company’s stock.

A number of analysts have weighed in on ATVI shares. Benchmark increased their target price on Activision Blizzard from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Argus reiterated a “focus list” rating on shares of Activision Blizzard in a research note on Friday, November 15th. Sanford C. Bernstein lowered Activision Blizzard from a “market perform” rating to an “underperform” rating and increased their target price for the stock from $41.00 to $43.00 in a research note on Wednesday, October 2nd. UBS Group reiterated a “buy” rating and issued a $66.00 target price (up previously from $56.00) on shares of Activision Blizzard in a research note on Wednesday, November 13th. Finally, Zacks Investment Research lowered Activision Blizzard from a “buy” rating to a “hold” rating and set a $60.00 target price on the stock. in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $60.96.

About Activision Blizzard

Activision Blizzard, Inc develops and distributes content and services on video game consoles, personal computers (PC), and mobile devices. The company operates through three segments: Activision Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment. It develops, publishes, and sells interactive software products and entertainment content for the console and PC platforms through retail and digital channels, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies; and offers downloadable content.

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