Short Interest in Activision Blizzard, Inc. (NASDAQ:ATVI) Declines By 5.5%

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Activision Blizzard, Inc. (NASDAQ:ATVI) saw a significant decrease in short interest in June. As of June 30th, there was short interest totalling 16,187,700 shares, a decrease of 5.5% from the May 30th total of 17,123,300 shares. Approximately 2.2% of the company’s shares are short sold. Based on an average daily volume of 7,140,000 shares, the days-to-cover ratio is presently 2.3 days.

In related news, insider Christopher B. Walther sold 2,333 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $44.00, for a total value of $102,652.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Christopher B. Walther sold 11,333 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $47.91, for a total value of $542,964.03. The disclosure for this sale can be found here. In the last three months, insiders sold 15,999 shares of company stock worth $752,724. 1.31% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of ATVI. Norges Bank acquired a new stake in shares of Activision Blizzard in the 4th quarter worth $347,929,000. CI Investments Inc. raised its stake in Activision Blizzard by 373,375.1% in the 4th quarter. CI Investments Inc. now owns 5,602,127 shares of the company’s stock worth $260,891,000 after acquiring an additional 5,600,627 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Activision Blizzard by 5,671.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,886,282 shares of the company’s stock worth $87,844,000 after acquiring an additional 1,853,598 shares during the last quarter. Lazard Asset Management LLC raised its stake in Activision Blizzard by 543.4% in the 1st quarter. Lazard Asset Management LLC now owns 2,116,010 shares of the company’s stock worth $96,341,000 after acquiring an additional 1,787,120 shares during the last quarter. Finally, APG Asset Management N.V. raised its stake in Activision Blizzard by 291.8% in the 4th quarter. APG Asset Management N.V. now owns 1,723,443 shares of the company’s stock worth $70,210,000 after acquiring an additional 1,283,600 shares during the last quarter. 86.35% of the stock is owned by hedge funds and other institutional investors.

Activision Blizzard stock opened at $47.66 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.63 and a quick ratio of 2.61. The firm has a market cap of $36.16 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 2.35 and a beta of 0.90. Activision Blizzard has a 1-year low of $39.85 and a 1-year high of $84.68. The stock has a fifty day simple moving average of $45.91.

Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.13. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Activision Blizzard had a return on equity of 16.19% and a net margin of 23.90%. The business’s quarterly revenue was down 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 EPS. As a group, equities research analysts forecast that Activision Blizzard will post 1.98 EPS for the current year.

Several research analysts recently issued reports on ATVI shares. Citigroup started coverage on UBISOFT ENTMT S/ADR in a research note on Friday, June 7th. They issued a “buy” rating on the stock. Jefferies Financial Group increased their price objective on Wynn Resorts from $160.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. William Blair reissued an “outperform” rating on shares of Activision Blizzard in a research note on Friday, May 3rd. Nomura cut Korea Electric Power from a “buy” rating to a “neutral” rating in a research report on Thursday, June 6th. Finally, Buckingham Research set a $32.50 target price on Fastenal and gave the company a “hold” rating in a research report on Friday, April 12th. Fourteen analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $60.03.

Activision Blizzard Company Profile

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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