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.
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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