Stock traders are buying a high volume of call options on Activision Blizzard (NASDAQ:ATVI)


Activision Blizzard, Inc. (NASDAQ:ATVI – Get Rating) saw unusually heavy options trading activity on Friday. Equity investors bought 24,301 call options on the company. This represents an increase of approximately 75% over the average volume of 13,853 call options.

Analyst upgrades and downgrades

ATVI has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered its price target on Activision Blizzard shares from $95.00 to $84.00 in a Thursday, August 4, report. Jefferies Financial Group restated a “buy” rating and issued a target price of $95.00 on Activision Blizzard shares in a Wednesday, April 27 report. Finally, Moffett Nathanson upgraded Activision Blizzard shares from a “neutral” rating to a “buy” rating and set a target price of $95.00 on the stock in a Wednesday, August 3 report. Seventeen analysts gave the stock a hold rating and nine gave the company a buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $94.73.

Activision Blizzard trades up 0.3%

NASDAQ: ATVI opened at $80.79 on Friday. The company has a debt ratio of 0.20, a current ratio of 6.18 and a quick ratio of 6.18. The company has a 50-day moving average of $78.02 and a 200-day moving average of $78.86. The company has a market capitalization of $63.20 billion, a PE ratio of 33.66, a PEG ratio of 3.52 and a beta of 0.51. Activision Blizzard has a one-year low of $56.40 and a one-year high of $86.90.

Activision Blizzard (NASDAQ:ATVI – Get Rating) last released its results on Monday, August 1. The company reported EPS of $0.47 for the quarter, beating the consensus estimate of $0.38 by $0.09. The company posted revenue of $1.64 billion in the quarter, versus a consensus estimate of $1.57 billion. Activision Blizzard achieved a net margin of 24.57% and a return on equity of 10.22%. The company’s revenue for the quarter was down 14.6% year over year. In the same period a year earlier, the company posted earnings per share of $0.86. As a group, equity research analysts expect Activision Blizzard to post EPS of 2.42 for the current fiscal year.

Insider Trading at Activision Blizzard

Separately, Chief Financial Officer Armin Zerza sold 10,174 shares of Activision Blizzard in a trade on Wednesday, August 3. The shares were sold at an average price of $80.22, for a total transaction of $816,158.28. Following the transaction, the CFO now owns 186,117 shares of the company, valued at $14,930,305.74. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. 1.10% of the shares are held by insiders of the company.

Institutional investors weigh in on Activision Blizzard

Several hedge funds and other institutional investors have recently changed their positions in ATVI. Confluence Wealth Services Inc. purchased a new stake in shares of Activision Blizzard during the fourth quarter worth approximately $25,000. ACG Wealth bought a new stake in Activision Blizzard in Q2 worth around $25,000. Joseph P. Lucia & Associates LLC purchased a new stake in Activision Blizzard in Q2 for approximately $25,000. MV Capital Management Inc. increased its position in Activision Blizzard by 275.5% in Q1. MV Capital Management Inc. now owns 353 shares of the company worth $28,000 after purchasing an additional 259 shares in the last quarter. Finally, Orion Capital Management LLC increased its position in Activision Blizzard by 75.7% in the second quarter. Orion Capital Management LLC now owns 355 shares of the company worth $28,000 after purchasing an additional 153 shares in the last quarter. 83.11% of the shares are held by institutional investors.

About Activision Blizzard

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Activision Blizzard, Inc, together with its subsidiaries, develops and publishes interactive entertainment content and services in the Americas, Europe, the Middle East, Africa and Asia-Pacific. The Company operates through three segments: Activision, Blizzard and King. It develops and distributes content and services on video game consoles, personal computers and mobile devices, including the sales of subscriptions, full games and games, as well as through the licensing of software to third-party or related companies that distribute Activision. and Blizzard products.

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