Is it Still Worthy to Invest in Activision Blizzard (ATVI)?

Cooper Investors, an investment management firm, published its “Cooper Investors Global Equities Fund (Hedged)” fourth quarter 2021 investor letter – a copy of which can be downloaded here. For the 3 months and 12 months to December 31st, the Fund returned +6.0% and +23.6% respectively. This compares to the benchmark which returned +6.6% and +20.2%. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Cooper Investors, in its Q4 2021 investor letter, mentioned Activision Blizzard, Inc. (NASDAQ: ATVI) and discussed its stance on the firm. Activision Blizzard, Inc. is a Santa Monica, California-based video game company with a $50.9 billion market capitalization. ATVI delivered a -1.71% return since the beginning of the year, while its 12-month returns are down by -27.90%. The stock closed at $65.3 per share on January 14, 2022.

Here is what Cooper Investors has to say about Activision Blizzard, Inc. in its Q4 2021 investor letter:

“In our previous letter we discussed the Responsible Investing aspects around the workplace issues disclosed earlier in the year at Activision Blizzard. Subsequently, further information emerged including allegations and anecdotes of historic awareness and inaction to the issues within the ranks of executive management. So too the latest earnings announcement saw the Blizzard studio push out several game launches, a very real consequence of workplace issues in a human capital-based business. The remedial efforts required are greater than we originally thought and the position was sold in what has been a disappointing experience.”

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Our calculations show that Activision Blizzard, Inc. (NASDAQ: ATVI) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. ATVI was in 80 hedge fund portfolios at the end of the third quarter of 2021, compared to 78 funds in the previous quarter. Activision Blizzard, Inc. (NASDAQ: ATVI) delivered a -14.41% return in the past 3 months.

In December 2021, we also shared another hedge fund’s views on ATVI in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

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