Activision Blizzard, Inc (ATVI) Sees Significant Drop in Short Interest
Activision Blizzard, Inc (NASDAQ:ATVI) was the target of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 12,329,594 shares, a drop of 16.0% from the October 13th total of 14,682,624 shares. Based on an average daily volume of 5,145,778 shares, the days-to-cover ratio is presently 2.4 days. Currently, 1.8% of the shares of the stock are sold short.
Large investors have recently added to or reduced their stakes in the company. Allen Investment Management LLC bought a new stake in shares of Activision Blizzard in the 2nd quarter valued at about $2,095,000. Pacad Investment Ltd. boosted its stake in Activision Blizzard by 131.0% in the 2nd quarter. Pacad Investment Ltd. now owns 119,447 shares of the company’s stock worth $6,877,000 after purchasing an additional 67,742 shares in the last quarter. Norinchukin Bank The boosted its stake in Activision Blizzard by 7.1% in the 2nd quarter. Norinchukin Bank The now owns 48,118 shares of the company’s stock worth $2,770,000 after purchasing an additional 3,170 shares in the last quarter. Brighton Jones LLC acquired a new stake in Activision Blizzard in the 2nd quarter worth approximately $508,000. Finally, The Manufacturers Life Insurance Company boosted its stake in Activision Blizzard by 39.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,101,771 shares of the company’s stock worth $63,430,000 after purchasing an additional 309,181 shares in the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.
Shares of Activision Blizzard (ATVI) opened at $64.13 on Friday. Activision Blizzard has a 1-year low of $35.12 and a 1-year high of $67.03. The firm has a market cap of $48,490.00, a PE ratio of 29.10, a PEG ratio of 2.23 and a beta of 1.06. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.25 and a quick ratio of 2.22.
Several research firms have commented on ATVI. Cowen and Company reiterated an “outperform” rating and set a $66.00 price objective (up previously from $59.00) on shares of Activision Blizzard in a research report on Wednesday, August 9th. Robert W. Baird reiterated an “outperform” rating and set a $68.00 price objective (up previously from $60.00) on shares of Activision Blizzard in a research report on Thursday, August 10th. Hilliard Lyons raised shares of Activision Blizzard from an “underperform” rating to a “neutral” rating in a research note on Wednesday, November 8th. Vetr raised shares of Activision Blizzard from a “sell” rating to a “hold” rating and set a $63.32 target price on the stock in a research note on Monday, November 6th. Finally, Zacks Investment Research raised shares of Activision Blizzard from a “hold” rating to a “strong-buy” rating and set a $71.00 target price on the stock in a research note on Wednesday, August 9th. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $68.75.
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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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