Is Activision Blizzard, Inc. a Sell? The Stock Had Bearish Options Activity Today

 Is Activision Blizzard, Inc. a Sell? The Stock Had Bearish Options Activity Today

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 1.10M 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 $280.46 million for 28.93 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 -5.71% below today’s ($43.98) stock price. Activision Blizzard has been the topic of 60 analyst reports since July 28, 2015 according to StockzIntelligence Inc. Piper Jaffray maintained the stock with “Overweight” rating in Monday, August 10 report. Mizuho maintained Activision Blizzard, Inc. (NASDAQ:ATVI) on Wednesday, November 4 with “Buy” rating. The stock of Activision Blizzard, Inc. (NASDAQ:ATVI) earned “Market Perform” rating by BMO Capital Markets on Wednesday, April 27. Pacific Crest maintained Activision Blizzard, Inc. (NASDAQ:ATVI) on Friday, August 7 with “Overweight” rating. The stock of Activision Blizzard, Inc. (NASDAQ:ATVI) earned “Outperform” rating by Macquarie Research on Wednesday, November 4. The stock of Activision Blizzard, Inc. (NASDAQ:ATVI) has “Outperform” rating given on Friday, February 12 by Wedbush. Mizuho maintained the stock with “Buy” rating in Friday, February 12 report. On Friday, August 7 the stock rating was maintained by Benchmark with “Buy”. The firm earned “Buy” rating on Friday, August 5 by UBS. The stock has “Overweight” rating given by Barclays Capital on Wednesday, August 5.

Insitutional Activity: The institutional sentiment increased to 1.38 in Q2 2016. 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.
Moreover, Cambridge Inv Research has 0.02% invested in Activision Blizzard, Inc. (NASDAQ:ATVI) for 18,176 shares. Westpac Banking Corporation, a Australia-based fund reported 40,162 shares. The Massachusetts-based Eaton Vance Mgmt has invested 0.05% in Activision Blizzard, Inc. (NASDAQ:ATVI). Arrow Fincl Corp holds 0.28% or 27,500 shares in its portfolio. Ubs Oconnor last reported 75,543 shares in the company. Mitsubishi Ufj Securities accumulated 0.45% or 6,450 shares. Moreover, Vantage Invest Advsr Llc has 0% invested in Activision Blizzard, Inc. (NASDAQ:ATVI) for 255 shares. Moreover, Glenmede Communication Na has 0.01% invested in Activision Blizzard, Inc. (NASDAQ:ATVI) for 32,042 shares. Zweig has invested 0.47% of its portfolio in Activision Blizzard, Inc. (NASDAQ:ATVI). Bb&T Corp last reported 210,104 shares in the company. Goldman Sachs Group reported 2.85 million shares or 0.04% of all its holdings. Manchester Mgmt Lc has 6,000 shares for 0.03% of their US portfolio. Bahl & Gaynor last reported 8,566 shares in the company. The Sweden-based Nordea Mgmt Ab has invested 0.05% in Activision Blizzard, Inc. (NASDAQ:ATVI). Sumitomo Mitsui Trust Holdings has invested 0.13% of its portfolio in Activision Blizzard, Inc. (NASDAQ:ATVI).

Insider Transactions: Since May 13, 2016, the stock had 1 buying transaction, and 13 sales for $943.67 million net activity. Shares for $1.95 million were sold by Walther Christopher B on Friday, September 2. Wereb Stephen G sold $2.70 million worth of stock. $960,720 worth of Activision Blizzard, Inc. (NASDAQ:ATVI) shares were sold by MORGADO ROBERT J. 8.57 million Activision Blizzard, Inc. (NASDAQ:ATVI) shares with value of $347.24M were sold by KOTICK ROBERT A. $803,380 worth of Activision Blizzard, Inc. (NASDAQ:ATVI) was sold by ZACCONI RICCARDO on Monday, August 8. Shares for $523.03M were sold by KELLY BRIAN G. Another trade for 1.15 million shares valued at $43.88M was made by Morhaime Michael on Monday, June 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 $32.46 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 44.17 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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