Analysts Are Downgrading These 5 Stocks

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

Number of Hedge Fund Holders: 128

Activision Blizzard, Inc. (NASDAQ:ATVI) is an American video game holding company that develops, publishes, and distributes a wide range of popular video games. The company operates in various segments of the gaming industry, including console gaming, PC gaming, and mobile gaming. On July 11, Stifel analyst Drew Crum adjusted the rating of Activision Blizzard, Inc. (NASDAQ:ATVI) from Buy to Hold. The price target has also been raised from $88 to $95.

Kinsman Oak Capital Partners made the following comment about Activision Blizzard, Inc. (NASDAQ:ATVI) in its first quarter 2023 investor letter:

“We closed our long position in Activision Blizzard, Inc. (NASDAQ:ATVI) on the last trading day of the quarter. We initiated the position in November 2021 and, despite crystalizing a gain on the investment, we are admittedly a little frustrated with how this has played out. In January 2022, Microsoft (MSFT) agreed to acquire the company for $95/share, but regulators are determined to block the transaction, and appear increasingly activist, in our opinion.”

Disclosure: None. You can also take a look at 10 Dirt Cheap Stocks To Buy and 13 Best Basic Materials Stocks to Buy Now.

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