Activision Blizzard, Inc. Is a Sell; Strong Momentum from Option Traders

 Activision Blizzard, Inc. Is a Sell; Strong Momentum from Option Traders

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 4.89M 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 earnings per share, up 111.11% or $0.20 from last year’s $0.18 per share. ATVI’s profit will be $280.44M for 29.03 P/E if the $0.38 EPS becomes a reality. After $0.40 actual earnings per share 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 -6.03% below today’s ($44.13) stock price. Activision Blizzard has been the topic of 60 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The rating was initiated by BMO Capital Markets with “Market Perform” on Wednesday, April 27. The stock of Activision Blizzard, Inc. (NASDAQ:ATVI) has “Overweight” rating given on Thursday, November 5 by KeyBanc Capital Markets. Argus Research maintained Activision Blizzard, Inc. (NASDAQ:ATVI) rating on Tuesday, August 18. Argus Research has “Buy” rating and $34 price target. The stock of Activision Blizzard, Inc. (NASDAQ:ATVI) has “Neutral” rating given on Monday, November 2 by Bank of America. Mizuho maintained the stock with “Buy” rating in Friday, August 5 report. Benchmark maintained Activision Blizzard, Inc. (NASDAQ:ATVI) rating on Friday, February 12. Benchmark has “Buy” rating and $37.63 price target. The rating was downgraded by Hilliard Lyons to “Long-Term Buy” on Wednesday, March 30. The rating was maintained by Wedbush with “Outperform” on Friday, February 12. The firm earned “Buy” rating on Friday, August 5 by Jefferies. The company was maintained on Monday, August 8 by Stifel Nicolaus.

Insitutional Activity: The institutional sentiment increased to 1.38 in 2016 Q2. Its up 0.33, from 1.05 in 2016Q1. The ratio increased, 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.
The New York-based Cowen Gru has invested 0.1% in Activision Blizzard, Inc. (NASDAQ:ATVI). Wetherby Asset Mngmt Inc reported 5,504 shares or 0.05% of all its holdings. Strs Ohio owns 1.97 million shares or 0.35% of their US portfolio. Moreover, Bailard has 0.03% invested in Activision Blizzard, Inc. (NASDAQ:ATVI) for 7,009 shares. Aperio Group Ltd Liability Corporation last reported 0.05% of its portfolio in the stock. Alliancebernstein L P holds 0.07% or 2.06M shares in its portfolio. Rafferty Asset Management Ltd, a New York-based fund reported 59,063 shares. Earnest Prtnrs Ltd Co holds 0.49% of its portfolio in Activision Blizzard, Inc. (NASDAQ:ATVI) for 1.14M shares. Stifel Financial has 154,356 shares for 0.03% of their US portfolio. Davidson Kempner Cap L P owns 1.25 million shares or 2.23% of their US portfolio. Virginia Retirement Et Al last reported 496,200 shares in the company. Renaissance Technology Ltd Liability Corporation last reported 0.07% of its portfolio in the stock. First Foundation Advsrs accumulated 18,910 shares or 0.05% of the stock. Los Angeles Capital Management Equity has 5,288 shares for 0% of their US portfolio. Moreover, Artemis Inv Management Llp has 0.49% invested in Activision Blizzard, Inc. (NASDAQ:ATVI) for 751,591 shares.

Insider Transactions: Since May 13, 2016, the stock had 1 insider buy, and 13 sales for $943.67 million net activity. Tippl Thomas sold 44,427 shares worth $1.86M. KOTICK ROBERT A also sold $347.24M worth of Activision Blizzard, Inc. (NASDAQ:ATVI) shares. 71,775 shares were sold by Wereb Stephen G, worth $2.70 million on Friday, May 20. $523.03 million worth of Activision Blizzard, Inc. (NASDAQ:ATVI) was sold by KELLY BRIAN G. 119,937 shares were sold by Durkin Dennis M, worth $4.96M. Walther Christopher B also sold $1.95M worth of Activision Blizzard, Inc. (NASDAQ:ATVI) on Friday, September 2. MORGADO ROBERT J also sold $960,720 worth of Activision Blizzard, Inc. (NASDAQ:ATVI) on Friday, May 13.

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 $32.57 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 44.32 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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