Billionaire Rob Citrone is Selling These 5 Stocks

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

Number of Hedge Fund Holders: 78

Activision Blizzard, Inc. (NASDAQ:ATVI) is an industry-leading developer and publisher of interactive entertainment content. Known primarily for its video game development, some of the company’s most notable products include the Call of Duty series, Overwatch and the Diablo series, among others. Based in California, the company is ranked second on our list of the 10 stocks billionaire Rob Citrone is selling.

The company issued its quarterly earnings report for the second quarter of 2021 on August 3, with reported earnings per share at $0.91, crossing consensus estimates by $0.15. The company also declared its revenues at $1.92 billion, surpassing the estimated revenues by $31.57 million.

On September 29, Jefferies analyst Andrew Uerkwitz claimed to still be bullish on Activision Blizzard, Inc. (NASDAQ:AVTI), and kept a Buy rating on the shares, alongside a $120 price target.

Cooper Investors Global Equities Fund (Hedged), in their Q1 2021 investor letter, mentioned how their stakes in Activision Blizzard, Inc. (NASDAQ:AVTI) could lead to significant value latency. Here is what the fund had to say:

“The portfolio established a position in video game publisher Activision Blizzard. As a watchlist company we have followed Activision for several years. As a reminder the role of the watchlist is to allow us to focus on a select group of companies where we seek to observe important signals around either value latency, industry trends or management behaviour that portend attractive investment propositions.

Technology can often play a disruptive role in content, however video games are a clear beneficiary of technology, both in terms of more immersive and realistic gaming experiences as well as the monetisation opportunities this creates…” (Click here to see the full text)