Could Activision Blizzard, Inc. See a Reversal After Today’s Strong Options Activity?

 Could Activision Blizzard, Inc. See a Reversal After Today's Strong Options Activity?

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 2.23M 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 $280.45M for 28.86 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 -5.45% below today’s ($43.86) stock price. Activision Blizzard has been the topic of 60 analyst reports since July 28, 2015 according to StockzIntelligence Inc. As per Wednesday, August 5, the company rating was maintained by Barclays Capital. KeyBanc Capital Markets maintained Activision Blizzard, Inc. (NASDAQ:ATVI) on Thursday, November 5 with “Overweight” rating. The rating was maintained by Brean Capital with “Buy” on Wednesday, August 5. The firm earned “Neutral” rating on Monday, November 2 by Bank of America. The firm has “Buy” rating by Hilliard Lyons given on Tuesday, February 16. UBS maintained Activision Blizzard, Inc. (NASDAQ:ATVI) on Friday, February 12 with “Buy” rating. The stock of Activision Blizzard, Inc. (NASDAQ:ATVI) has “Buy” rating given on Friday, August 7 by Benchmark. The firm has “Buy” rating given on Tuesday, September 6 by Mizuho. The firm earned “Overweight” rating on Monday, September 28 by Piper Jaffray. On Thursday, August 6 the stock rating was maintained by Stifel Nicolaus with “Buy”.

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.
Janney Montgomery Scott Limited Com last reported 0.03% of its portfolio in the stock. Cubist Systematic Strategies Ltd Limited Liability Company last reported 0.07% of its portfolio in the stock. Louisiana State Employees Retirement reported 33,400 shares or 0.07% of all its holdings. Thompson Davis Incorporated, a Virginia-based fund reported 1,114 shares. Aperio Group Limited Liability Corporation has 0.05% invested in the company for 159,716 shares. Moreover, Envestnet Asset Management has 0.01% invested in Activision Blizzard, Inc. (NASDAQ:ATVI) for 80,457 shares. Moreover, Of Vermont has 0.11% invested in Activision Blizzard, Inc. (NASDAQ:ATVI) for 21,092 shares. Federated Invsts Pa last reported 0% of its portfolio in the stock. Moreover, Wright Invsts Service has 0.4% invested in Activision Blizzard, Inc. (NASDAQ:ATVI) for 24,745 shares. Chemical Fincl Bank holds 0.45% or 82,825 shares in its portfolio. Mackenzie Finance Corporation last reported 12,878 shares in the company. Bnp Paribas Prtn Sa owns 148,969 shares or 0.05% of their US portfolio. Babson Cap Mngmt Ltd Liability has invested 0.05% of its portfolio in Activision Blizzard, Inc. (NASDAQ:ATVI). Bogle Inv L P De, a Massachusetts-based fund reported 165,311 shares. Capital Guardian Trust holds 0.15% of its portfolio in Activision Blizzard, Inc. (NASDAQ:ATVI) for 479,660 shares.

Insider Transactions: Since May 13, 2016, the stock had 1 buying transaction, and 13 insider sales for $943.67 million net activity. Tippl Thomas also sold $3.28 million worth of Activision Blizzard, Inc. (NASDAQ:ATVI) on Wednesday, September 14. $2.70M worth of Activision Blizzard, Inc. (NASDAQ:ATVI) was sold by Wereb Stephen G on Friday, May 20. Another trade for 29,999 shares valued at $1.31 million was sold by MORGADO ROBERT J. $795,842 worth of Activision Blizzard, Inc. (NASDAQ:ATVI) was bought by NOLAN PETER J on Tuesday, August 16. On Monday, August 15 the insider KELLY BRIAN G sold $523.03M. Shares for $783,097 were sold by ZACCONI RICCARDO on Tuesday, August 16. Another trade for 119,937 shares valued at $4.96M was sold by Durkin Dennis M.

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 $32.37 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 44.05 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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