Here’s Why Cooper Investors Did Not Benefit from its Investment in Activision Blizzard (ATVI)

Cooper Investors, an asset management company, released its “Cooper Investors Global Equities Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. The fund declined 23.8% compared to a 15.6% decline for its benchmark index for the six months ended June 30, 2022. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Cooper Investors discussed stocks like Activision Blizzard, Inc. (NASDAQ:ATVI) in the second quarter investor letter. Headquartered in Santa Monica, California Activision Blizzard, Inc. (NASDAQ:ATVI) is a video game company. On September 13, 2022, Activision Blizzard, Inc. (NASDAQ:ATVI) stock closed at $76.76 per share. One-month return of Activision Blizzard, Inc. (NASDAQ:ATVI) was -4.68%, and its shares lost -1.90% of their value over the last 52 weeks. Activision Blizzard, Inc. (NASDAQ:ATVI) has a market capitalization of $60.05 billion.

Here is what Cooper Investors specifically said about Activision Blizzard, Inc. (NASDAQ:ATVI) in its Q2 2022 investor letter:

“Activision Blizzard, Inc. (NASDAQ:ATVI) – our investment preceded news that the company was under investigation for workplace bullying. When it became clear management had misled the market on the extent of the problem we sold, led by our principles of Responsible Investing. We did not benefit from the subsequent M&A premium paid by Microsoft.”

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Activision Blizzard, Inc. (NASDAQ:ATVI) is in 26th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 84 hedge fund portfolios held Activision Blizzard, Inc. (NASDAQ:ATVI) at the end of the second quarter which was 80 in the previous quarter.

We discussed Activision Blizzard, Inc. (NASDAQ:ATVI) in another article and shared the best quality stocks to buy. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.