Could Activision Blizzard, Inc. (ATVI) Change Direction After Touching 52-Week High?

January 23, 2018 - By Michael Collier

Investors sentiment increased to 1.38 in 2017 Q3. Its up 0.23, from 1.15 in 2017Q2. It is positive, as 37 investors sold Activision Blizzard, Inc. shares while 205 reduced holdings. 93 funds opened positions while 240 raised stakes. 639.82 million shares or 0.01% less from 639.89 million shares in 2017Q2 were reported.
Tru Company Of Vermont invested in 28,222 shares or 0.18% of the stock. Point72 Asia (Hong Kong) Limited holds 0.08% of its portfolio in Activision Blizzard, Inc. (NASDAQ:ATVI) for 1,782 shares. Hbk L P invested in 82,332 shares. Malaga Cove Cap Lc reported 14,150 shares or 0.51% of all its holdings. 32,883 are owned by Samlyn Cap. Kayne Anderson Rudnick Management Ltd holds 341,532 shares or 0.2% of its portfolio. Alliancebernstein Limited Partnership stated it has 2.22M shares or 0.11% of all its holdings. Centre Asset Ltd Liability Corporation holds 2.28% or 136,350 shares in its portfolio. Arrowmark Colorado Holdings Ltd Liability Co reported 0.1% stake. Gabalex Capital Lc holds 5.48% or 275,000 shares. Bokf Na holds 36,782 shares or 0.07% of its portfolio. Duquesne Family Office Ltd Liability Corp stated it has 714,100 shares. Gabelli Funds Ltd Liability Co stated it has 0.07% of its portfolio in Activision Blizzard, Inc. (NASDAQ:ATVI). Axa invested in 0.17% or 596,501 shares. Dynamic Mgmt Ltd has 0.34% invested in Activision Blizzard, Inc. (NASDAQ:ATVI) for 18,579 shares.

Since August 7, 2017, it had 0 insider purchases, and 3 sales for $239.12 million activity. KELLY BRIAN G sold $228.20 million worth of stock or 3.69M shares. ZACCONI RICCARDO also sold $1.21 million worth of Activision Blizzard, Inc. (NASDAQ:ATVI) on Wednesday, August 16.

The stock of Activision Blizzard, Inc. (NASDAQ:ATVI) hit a new 52-week high and has $78.61 target or 9.00 % above today’s $72.12 share price. The 5 months bullish chart indicates low risk for the $54.53 billion company. The 1-year high was reported on Jan, 23 by Barchart.com. If the $78.61 price target is reached, the company will be worth $4.91B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 1.16% or $0.82 during the last trading session, reaching $72.12. About 1.13 million shares traded. Activision Blizzard, Inc. (NASDAQ:ATVI) has risen 47.83% since January 23, 2017 and is uptrending. It has outperformed by 31.13% the S&P500.

Analysts await Activision Blizzard, Inc. (NASDAQ:ATVI) to report earnings on February, 8. They expect $0.87 earnings per share, up 1.16 % or $0.01 from last year’s $0.86 per share. ATVI’s profit will be $657.86M for 20.72 P/E if the $0.87 EPS becomes a reality. After $0.43 actual earnings per share reported by Activision Blizzard, Inc. for the previous quarter, Wall Street now forecasts 102.33 % EPS growth.

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

Among 30 analysts covering Activision Blizzard (NASDAQ:ATVI), 24 have Buy rating, 0 Sell and 6 Hold. Therefore 80% are positive. Activision Blizzard has $82 highest and $29.51 lowest target. $61.78’s average target is -14.34% below currents $72.12 stock price. Activision Blizzard had 120 analyst reports since July 28, 2015 according to SRatingsIntel. Mizuho maintained it with “Buy” rating and $42 target in Friday, May 6 report. Morgan Stanley maintained the shares of ATVI in report on Wednesday, June 7 with “Buy” rating. The company was maintained on Wednesday, August 5 by UBS. On Monday, August 8 the stock rating was maintained by Stifel Nicolaus with “Buy”. On Tuesday, August 18 the stock rating was maintained by Argus Research with “Buy”. The firm earned “Buy” rating on Wednesday, September 2 by Vetr. As per Friday, November 4, the company rating was maintained by Wedbush. On Wednesday, September 6 the stock rating was maintained by Cowen & Co with “Buy”. The stock has “Buy” rating by SunTrust on Friday, October 27. On Monday, August 10 the stock rating was maintained by Piper Jaffray with “Overweight”.

More notable recent Activision Blizzard, Inc. (NASDAQ:ATVI) news were published by: Seekingalpha.com which released: “Take Me Out To The Overwatch Game” on January 12, 2018, also Investorplace.com with their article: “3 Reasons Activision Blizzard, Inc. Is a Good Long-Term Play” published on January 16, 2018, Seekingalpha.com published: “Activision Blizzard: Wait And See” on January 18, 2018. More interesting news about Activision Blizzard, Inc. (NASDAQ:ATVI) were released by: Seekingalpha.com and their article: “The Sequel Delivers: Activision Blizzard Continues To Grow” published on January 04, 2018 as well as Investorplace.com‘s news article titled: “Expect Little in the Near Term From Activision Blizzard, Inc. Stock” with publication date: December 28, 2017.

Activision Blizzard, Inc. develops and publishes games for video game consoles, personal computers , mobile devices, and online social platforms. The company has market cap of $54.53 billion. The firm operates through three divisions: Activision Publishing, Inc., Blizzard Entertainment, Inc., and King Digital Entertainment. It has a 49.4 P/E ratio. The firm develops, publishes, and sells interactive software products and entertainment content through retail channels or digital downloads; and downloadable content.

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