Activision Blizzard, Inc. (ATVI)’s Wedge Up Points to Lower Stock Risks

September 17, 2017 - By Stephen Andrade

Investors sentiment decreased to 1.08 in Q4 2016. Its down 0.31, from 1.39 in 2016Q3. It turned negative, as 73 investors sold Activision Blizzard, Inc. shares while 204 reduced holdings. 106 funds opened positions while 193 raised stakes. 631.68 million shares or 1.57% more from 621.89 million shares in 2016Q3 were reported.
Moreover, Tokio Marine Asset Mngmt has 0.05% invested in Activision Blizzard, Inc. (NASDAQ:ATVI) for 12,592 shares. Citigroup holds 378,399 shares or 0.01% of its portfolio. Fic Capital invested 0.17% in Activision Blizzard, Inc. (NASDAQ:ATVI). Amp Capital Invsts Ltd has 0.1% invested in Activision Blizzard, Inc. (NASDAQ:ATVI). Metropolitan Life Insurance reported 0.09% in Activision Blizzard, Inc. (NASDAQ:ATVI). Palo Capital Incorporated owns 10,403 shares or 0.24% of their US portfolio. First Foundation Advsrs reported 20,834 shares stake. Steadfast Management Limited Partnership has 2.83% invested in Activision Blizzard, Inc. (NASDAQ:ATVI). Peak6 Invs L P owns 0.05% invested in Activision Blizzard, Inc. (NASDAQ:ATVI) for 186,077 shares. Green Square Capital Ltd has 13,813 shares. Ontario – Canada-based Hillsdale Inv Mngmt has invested 0.04% in Activision Blizzard, Inc. (NASDAQ:ATVI). Honeywell Int holds 413,200 shares. 19,866 are held by Nbt Comml Bank N A Ny. 6,690 were accumulated by Ironwood Invest Counsel Limited Liability Company. 46,836 are held by Shelton Cap Management.

Since March 28, 2017, it had 0 buys, and 2 sales for $22.06 million activity. 420,063 shares valued at $20.96M were sold by KELLY BRIAN G on Tuesday, March 28. ZACCONI RICCARDO also sold $1.10M worth of Activision Blizzard, Inc. (NASDAQ:ATVI) on Tuesday, May 16.

The stock of Activision Blizzard, Inc. (ATVI) formed an up wedge with $70.85 target or 9.00 % above today’s $65.00 share price. The 5 months wedge indicates low risk for the $49.07 billion company. If the $70.85 price target is reached, the company will be worth $4.42B more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.26% or $0.17 on September 15, reaching $65. About 16.17M shares traded or 172.68% up from the average. Activision Blizzard, Inc. (NASDAQ:ATVI) has risen 47.83% since September 17, 2016 and is uptrending. It has outperformed by 31.13% the S&P500.

Analysts expect Activision Blizzard, Inc. (NASDAQ:ATVI) to report $0.44 EPS on November, 2.They anticipate $0.02 EPS change or 4.35 % from last quarter’s $0.46 EPS. ATVI’s profit would be $332.17M giving it 36.93 P/E if the $0.44 EPS is correct. After having $0.51 EPS previously, Activision Blizzard, Inc.’s analysts see -13.73 % EPS growth.

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

Among 26 analysts covering Activision Blizzard (NASDAQ:ATVI), 23 have Buy rating, 0 Sell and 3 Hold. Therefore 88% are positive. Activision Blizzard had 98 analyst reports since July 28, 2015 according to SRatingsIntel. The stock of Activision Blizzard, Inc. (NASDAQ:ATVI) has “Buy” rating given on Friday, August 4 by Credit Suisse. Credit Suisse maintained Activision Blizzard, Inc. (NASDAQ:ATVI) on Monday, July 24 with “Buy” rating. The stock of Activision Blizzard, Inc. (NASDAQ:ATVI) has “Overweight” rating given on Wednesday, August 5 by Barclays Capital. The firm earned “Buy” rating on Friday, February 12 by Benchmark. Jefferies maintained it with “Buy” rating and $55 target in Friday, August 5 report. As per Wednesday, August 5, the company rating was maintained by Mizuho. The stock of Activision Blizzard, Inc. (NASDAQ:ATVI) earned “Buy” rating by Jefferies on Wednesday, June 7. The firm has “Buy” rating given on Tuesday, August 18 by Argus Research. The stock of Activision Blizzard, Inc. (NASDAQ:ATVI) has “Buy” rating given on Tuesday, September 5 by Jefferies. KeyBanc Capital Markets maintained the stock with “Buy” rating in Wednesday, September 6 report.

More notable recent Activision Blizzard, Inc. (NASDAQ:ATVI) news were published by: Nasdaq.com which released: “Activision Blizzard Releases Destiny 2 for PS4 & Xbox One” on September 07, 2017, also Seekingalpha.com with their article: “Blizzard launching esports venue on ‘Tonight Show’ stomping grounds” published on September 07, 2017, Fool.com published: “3 Things Investors Missed in Activision Blizzard Inc.’s Quarterly Report” on August 28, 2017. More interesting news about Activision Blizzard, Inc. (NASDAQ:ATVI) were released by: Seekingalpha.com and their article: “Videogame sales take a pre-holiday breather, falling 2%” published on September 14, 2017 as well as Seekingalpha.com‘s news article titled: “Activision Blizzard: DCF Analysis” with publication date: August 22, 2017.

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