5 Best Gaming Stocks To Buy Now

4. NetEase, Inc. (NASDAQ:NTES)

Number of Hedge Fund Holders: 29

NetEase, Inc. (NASDAQ:NTES) is a Chinese internet company that operates via Online Game Services, Youdao, Cloud Music, and Innovative Businesses and Others segments. Citi analyst Alicia Yap sees the recent selloff in shares of NetEase, Inc. (NASDAQ:NTES) as an “enhanced buying opportunity”. The analyst noted that the late release of Diablo Immortal in China is unfortunate, especially since competitors like Blizzard remain on schedule. The analyst sees controlled impact on NetEase, Inc. (NASDAQ:NTES)’s second half of 2022 financials if the release of the China version is delayed to July 8, which is two weeks later than the planned release. Small delays to Diablo Immortal release should not have a significant impact on the interest of core gamers, added the analyst. On June 16, the analyst assigned a Buy rating to the shares with a $132 price target and opened a “30-day positive catalyst watch” on NetEase, Inc. (NASDAQ:NTES) in anticipation of a possibly stronger than expected performance.

Among the hedge funds tracked by Insider Monkey, 29 funds reported owning stakes in NetEase, Inc. (NASDAQ:NTES) at the end of Q1 2022, compared to 35 funds in the earlier quarter. William B. Gray’s Orbis Investment Management is the leading position holder in the company, with 6.4 million shares worth roughly $578 million.