A Reversal for Activision Blizzard, Inc. Is Not Near. Professional Options Traders Are Bearish

 A Reversal for Activision Blizzard, Inc. Is Not Near. Professional Options Traders Are Bearish

In today’s session Activision Blizzard, Inc. (ATVI) recorded an unusually high (7,174) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious ATVI decrease. With 7,174 contracts traded and 474 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: ATVI161021P00043500 closed last at: $0.55 or 20.3% down. About 1.61 million shares traded hands. Activision Blizzard, Inc. (NASDAQ:ATVI) has risen 36.91% since March 1, 2016 and is uptrending. It has outperformed by 27.67% the S&P500.

Analysts await Activision Blizzard, Inc. (NASDAQ:ATVI) to report earnings on November, 7. They expect $0.38 EPS, up 111.11% or $0.20 from last year’s $0.18 per share. ATVI’s profit will be $280.53 million for 28.93 P/E if the $0.38 EPS becomes a reality. After $0.40 actual EPS reported by Activision Blizzard, Inc. for the previous quarter, Wall Street now forecasts -5.00% negative EPS growth.

Activision Blizzard, Inc. (NASDAQ:ATVI) Ratings Coverage

Out of 22 analysts covering Activision Blizzard (NASDAQ:ATVI), 19 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 86% are positive. $56 is the highest target while $29.51 is the lowest. The $41.47 average target is -5.69% below today’s ($43.97) stock price. Activision Blizzard has been the topic of 60 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Friday, August 5 by Mizuho. The rating was downgraded by M Partners to “Neutral” on Thursday, July 28. M Partners maintained it with “Buy” rating and $30 target price in Monday, July 27 report. As per Tuesday, February 16, the company rating was upgraded by Hilliard Lyons. The stock has “Buy” rating given by Jefferies on Friday, August 5. The stock of Activision Blizzard, Inc. (NASDAQ:ATVI) has “Outperform” rating given on Friday, August 5 by Wedbush. The firm has “Overweight” rating by Barclays Capital given on Wednesday, August 5. The firm earned “Buy” rating on Friday, February 12 by Mizuho. Mizuho maintained the stock with “Buy” rating in Friday, May 6 report. The firm has “Hold” rating given on Friday, August 7 by Zacks.

Insitutional Activity: The institutional sentiment increased to 1.38 in 2016 Q2. Its up 0.33, from 1.05 in 2016Q1. The ratio is positive, as 39 funds sold all Activision Blizzard, Inc. shares owned while 173 reduced positions. 84 funds bought stakes while 208 increased positions. They now own 598.35 million shares or 17.54% more from 509.05 million shares in 2016Q1.
Apriem Advsrs last reported 60 shares in the company. Whittier Company Of Nevada has 54,478 shares for 0.25% of their US portfolio. Consolidated Investment Group Ltd Llc has 99,962 shares for 2% of their US portfolio. Palladium Prtn Ltd Llc has 5,542 shares for 0.02% of their US portfolio. Us Financial Bank De has 148,441 shares for 0.02% of their US portfolio. Bnp Paribas Inv Prtn holds 148,969 shares or 0.05% of its portfolio. Moreover, Robeco Institutional Asset Bv has 0.14% invested in Activision Blizzard, Inc. (NASDAQ:ATVI) for 472,526 shares. Gotham Asset Limited Liability Com accumulated 0.01% or 25,267 shares. Sumitomo Mitsui Asset Management Company Ltd has 90,697 shares for 0.11% of their US portfolio. Amer National Registered Inv Advisor reported 20,909 shares or 0.39% of all its holdings. Cleararc Capital Incorporated reported 12,376 shares or 0.1% of all its holdings. Veritable Lp holds 12,760 shares or 0.01% of its portfolio. The New York-based Moore Cap Lp has invested 1.56% in Activision Blizzard, Inc. (NASDAQ:ATVI). Price T Rowe Md has invested 0.05% of its portfolio in Activision Blizzard, Inc. (NASDAQ:ATVI). Analytic Limited Liability holds 1.83 million shares or 0.86% of its portfolio.

Insider Transactions: Since May 13, 2016, the stock had 1 buying transaction, and 13 insider sales for $943.67 million net activity. The insider Morhaime Michael sold $43.88M. Another trade for 119,937 shares valued at $4.96M was sold by Durkin Dennis M. MORGADO ROBERT J sold $960,720 worth of stock or 25,000 shares. Shares for $523.03M were sold by KELLY BRIAN G. $783,097 worth of Activision Blizzard, Inc. (NASDAQ:ATVI) was sold by ZACCONI RICCARDO on Tuesday, August 16. Shares for $3.28 million were sold by Tippl Thomas on Wednesday, September 14. On Friday, September 2 the insider Walther Christopher B sold $1.95 million.

Activision Blizzard, Inc. is a developer and publisher of online, personal computer , video game console, handheld, mobile and tablet games. The company has a market cap of $32.46 billion. The Firm operates through Activision Publishing, Inc. (Activision) and its subsidiaries, Blizzard Entertainment, Inc. (Blizzard) and its subsidiaries, and Other divisions. It has a 44.16 P/E ratio. The Firm also develops products spanning other genres, including first-person action, action/adventure, role-playing, simulation and strategy.

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