Bearish Options Activity on Activision Blizzard, Inc. After Worse Fundamentals


 Bearish Options Activity on Activision Blizzard, Inc. After Worse Fundamentals

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 2.56 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 $280.55 million for 28.91 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 -5.62% below today’s ($43.94) stock price. Activision Blizzard has been the topic of 60 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The rating was maintained by Credit Suisse with “Outperform” on Monday, January 25. The rating was maintained by UBS with “Buy” on Wednesday, August 5. The stock of Activision Blizzard, Inc. (NASDAQ:ATVI) earned “Buy” rating by Hilliard Lyons on Tuesday, February 16. On Monday, May 9 the stock rating was maintained by Stifel Nicolaus with “Buy”. As per Thursday, August 6, the company rating was maintained by Stifel Nicolaus. The company was downgraded on Thursday, July 28 by M Partners. The stock has “Buy” rating given by Vetr on Wednesday, September 2. The rating was maintained by Piper Jaffray with “Overweight” on Monday, September 28. Mizuho maintained the stock with “Buy” rating in Wednesday, August 5 report. The rating was maintained by Stifel Nicolaus with “Buy” on Monday, August 8.

Insitutional Activity: The institutional sentiment increased to 1.38 in 2016 Q2. Its up 0.33, from 1.05 in 2016Q1. The ratio improved, 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.
Moody Financial Bank Division accumulated 0.04% or 18,964 shares. Cornerstone, a Washington-based fund reported 295 shares. Grantham Mayo Van Otterloo And Ltd Llc has 1.06M shares for 0.17% of their US portfolio. Horrell Mngmt accumulated 0% or 22 shares. Putnam Ltd accumulated 11,221 shares or 0% of the stock. Polaris Greystone Fin Group Incorporated Ltd Liability, a California-based fund reported 21,052 shares. Buckingham Asset Mgmt Ltd Liability Co has invested 0.07% of its portfolio in Activision Blizzard, Inc. (NASDAQ:ATVI). Delta Asset Mgmt Ltd Tn has 0.01% invested in the company for 1,400 shares. Guardian Tru accumulated 479,660 shares or 0.15% of the stock. Moreover, Regions Corporation has 0.02% invested in Activision Blizzard, Inc. (NASDAQ:ATVI) for 38,448 shares. Bb&T Corp last reported 210,104 shares in the company. Advisors Asset Management last reported 0% of its portfolio in the stock. Td Asset holds 0.03% or 428,165 shares in its portfolio. Lombard Odier Asset Mngmt (Europe) Ltd last reported 0.02% of its portfolio in the stock. Fuller & Thaler Asset Mgmt holds 147,395 shares or 0.1% of its portfolio.

Insider Transactions: Since May 13, 2016, the stock had 1 buying transaction, and 13 sales for $943.67 million net activity. The insider Morhaime Michael sold $43.88 million. Shares for $347.24 million were sold by KOTICK ROBERT A. $795,842 worth of Activision Blizzard, Inc. (NASDAQ:ATVI) was bought by NOLAN PETER J on Tuesday, August 16. $1.95M worth of Activision Blizzard, Inc. (NASDAQ:ATVI) was sold by Walther Christopher B. $3.28 million worth of Activision Blizzard, Inc. (NASDAQ:ATVI) shares were sold by Tippl Thomas. 19,761 shares were sold by ZACCONI RICCARDO, worth $803,380. Shares for $960,720 were sold by MORGADO ROBERT J 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 $32.44 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 44.13 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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