5 Best Entertainment Stocks to Invest In

2. Activision Blizzard, Inc. (NASDAQ: ATVI)

Number of Hedge Fund Holders: 76

Activision Blizzard (NASDAQ: ATVI) is an electronic gaming & multimedia company based in Santa Monica, California. It is ranked second on our list of 10 best entertainment stocks to invest in. The company’s shares have returned 14.56% to investors over the course of the past year. On May 4, Activision Blizzard (NASDAQ: ATVI) posted earnings for the first quarter of 2021, reporting earnings per share of $0.84, beating estimates by $0.15. The revenue over the period was around $2.28 billion, up 27.24% year-over-year.

At the end of the first quarter of 2021, 76 hedge funds in the database of Insider Monkey held stakes worth $3.58 billion in Activision Blizzard (NASDAQ: ATVI).

On June 24, MoffettNathanson gave a Buy rating with a $124 price target to Activision Blizzard, Inc. (NASDAQ: ATVI). The firm noted the stability of the cash flows and net cash position on the balance sheet of Activision Blizzard, Inc. (NASDAQ: ATVI).