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Activision Blizzard (ATVI) gains 0.79% on Moderate Volume September 24 – Equities.com


Activision Blizzard (ATVI) gains 0.79% on Moderate Volume September 24

Equities Staff  |

Activision Blizzard Inc (NASDAQ: ATVI), a Santa Monica, California, company, gained to close at $75.26 Friday after gaining $0.59 (0.79%) on volume of 7,429,756 shares. The stock ranged from a high of $75.59 to a low of $74.11 while Activision Blizzard’s market cap now stands at $58,530,337,571.

About Activision Blizzard Inc

Activision Blizzard, Inc. connects and engages the world through epic entertainment. A member of the Fortune 500 and S&P 500, Activision Blizzard is a leading interactive entertainment company. It delights hundreds of millions of monthly active users around the world through franchises including Activision’s Call of Duty® and Crash Bandicoot™, Blizzard Entertainment’s World of Warcraft®, Overwatch®, Hearthstone®, Diablo®, and StarCraft®, and King’s Candy Crush™, Bubble Witch™, and Farm Heroes™. Headquartered in Santa Monica, California, Activision Blizzard has operations throughout the world.

Visit Activision Blizzard Inc’s profile for more information.

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The Volatility may Allow Activision Blizzard, Inc. (NASDAQ:ATVI) to Converge Down to Value – Simply Wall St

Activision Blizzard, Inc. ( NASDAQ:ATVI ) has had quite some turbulence lately, with the price tumbling some 3.7% this week, and experiencing a slow 6-month decline of 18.8%. The internal activities have already resulted with some management members leaving ( 1 , 2 ), and litigation seems to be piling up. This additional uncertainty is putting a strain on the stock, and might provide long-term investors with an opportunity to tap into the gaming industry.

When investors are buying Activision Blizzard, they are buying the game-chains from three main brands:

  • Activision: Leading with the Call Of Duty Franchise
  • Blizzard: Leading with the World of Warcraft, Diablo 2 & 3, Hearthstone, Overwatch
  • King: Leading with Candy Crush

These are known new and legacy titles that are bringing the majority of revenues for the company at a significant 29% net profit margin , making the company valuable for investors.

If the uncertainty surrounding the company clears with minimal impact, then investors might have a moment of opportunity on their hands.

In this article we are going to estimate the intrinsic value of Activision Blizzardby projecting its future cash flows and then discounting them to today’s value.One way to achieve this is by employing the Discounted Cash Flow (DCF) model.

We would caution that there are many ways of valuing a company and, like the DCF, each technique has advantages and disadvantages in certain scenarios. If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model .

Check out our latest analysis for Activision Blizzard

What’s the estimated valuation?

A DCF is all about the idea that a dollar in the future is less valuable than a dollar today,so we need to project how much cash flows will Activision Blizzard make and discount the sum of these future cash flows to arrive at a present value estimate:

Present Value of 10-year Cash Flow (PVCF) = US$25b

After calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage.

Terminal Value (TV) = US$81b

Present Value of Terminal Value (PVTV) = US$42b

The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is US$67b.

This is effectively what the business is worth today! The intrinsic value is usually different from the current market price. When investors are looking at a company that is trading below its intrinsic value, they may feel more confident that the price may rise to what the cash flows are worth, giving them a better chance to profit from a stock. 

To get the intrinsic value per share, we divide this by the total number of shares outstanding.

Compared to the current share price of US$74.7, the company appears about fair value at a 14% discount to where the stock price trades currently.

The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent.

dcf
NasdaqGS:ATVI Discounted Cash Flow September 23rd 2021

There are many important assumptions based upon which we build a DCF model, you can view all the details of our model by visiting our valuation section , and clicking on the “View Data” button on the bottom right.

Key Takeaways & Next Steps:

The DCF model is not a perfect stock valuation tool, and our rough estimate shows that the company may be >10% undervalued, which warrants a deeper dive to see if the stock is right for investment.

When thinking about Activision Blizzard, investors should ask themselves some essential questions:

  • What will be the financial impact of the current internal crisis? Will the problems cripple the company on the long term, or will they open an opportunity to invest while the price is lower?
  • How do the long-term growth prospects look for the company?
    • Will something like the new rollout of Diablo 2 Remastered energize players and revitalize the franchise?
    • What is the growth potential of the new Call of Duty and Overwatch titles?
    • The mobile segment is catching up at high speed, is there an untapped potential for mobile games done right (unlike Diablo for mobile)?
  • Does the company have a strategy to sow the seeds of new promising titles or to grow by acquisitions?

There are also quantitative factors to consider, and we’ve compiled threeimportantaspectsyou should further research:

  1. Risks : For example, we’ve discovered 1 warning sign for Activision Blizzard that you should be aware of before investing here.
  2. Future Earnings : How does ATVI’s growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart .
  3. Other High Quality Alternatives : Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing!

PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the NASDAQGS every day. If you want to find the calculation for other stocks justsearch here .

Simply Wall St analyst Goran Damchevski and Simply Wall St have no position in any of the companies mentioned. This article is general in nature. It does not constitute a recommendation to buy or sell any stock and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

Overwatch League Grand Finals: Project Aloha, Cloud Workflows Are Key to Transcontinental Production – Sports Video Group

Analysts are onsite in Honolulu while players, casters, and crew are spread across the globe

It has been wild ride for Activision Blizzard Esports’ Broadcast Technology Group during the 2021 Overwatch League Season. After producing OWL regular-season matches online and from Project Aloha in Honolulu using its cloud-based, remote-production model, the Group had been prepping for the OWL Playoffs in Dallas and Los Angeles, its first live, in-person matches in more than two years. However, when the Delta variant of COVID-19 hindered those plans, the Broadcast Technology Group pivoted quickly for a return to Honolulu to broadcast the playoffs, which conclude with tomorrow’s OWL Grand Final.

The OWL Playoffs feature analysts on-site in Honolulu manning a set at the Moana Surfrider Resort.

“When the [in-person events] were canceled, we had only about two weeks to pivot the entire show,” says Corey Smith, director, live operations, Broadcast Technology Group, Activision Blizzard Esports. “The fact that the team was able to get it done was nothing short of a miracle. We simply wouldn’t have been able to do it without the cloud and all the work we had already put in to develop [remote workflows]. We couldn’t have been orchestrating trucks and satellite uplinks and coordinating fiber drops in that small of a window. We just didn’t have the time to turn around that traditional type of infrastructure. We had to do it with cloud production.”

Project Aloha: A Unified Champion Thanks to Hawaii-Tokyo Connection

After being forced to have regional champions in Asia and U.S./Europe last year because of travel restrictions and transcontinental bandwidth challenges, Tomorrow’s OWL Grand Finals will crown a unified global champion for the first time since 2019.

To pull this season off, Activision Blizzard Esports (ABE) partnered with the University of Hawaii Mānoa to launch Project Aloha, a competition model in which teams could compete live between Honolulu and Asia. The university provided access to a high-capacity trans-Pacific subsea fiber cable between Tokyo and Honolulu, allowing players to compete online with near-zero latency.

“Project Aloha allowed us to combine the teams from North America and Asia for competitive matchmaking, which was great because we weren’t able to do that last season,” notes Smith. “We obviously didn’t want to end this season again by crowning separate champions in Asia and North America, so Hawaii allowed us to conclude the season in a way that made sense.

Onsite in Honolulu: Analyst Desk Heads to Waikiki Beach

During this week’s OWL Playoffs, for the first time at Project Aloha, analysts are located onsite in Honolulu, delivering live coverage during broadcasts from its set on the balcony of the penthouse suite at the Moana Surfrider Resort.

OWL Playoffs coverage spans the globe with interviews across multiple continents.

“The big challenge here for the set was connectivity at the top of the Moana Surfrider,” says Senior Technical Manager Ryan Cole, one of the few crew members onsite in Honolulu. “[The hotel] cannot support the network at the level and scale we needed at the penthouse, so we ended working with the Marriott folks and some onsite vendors to setup two point-to-point [wireless bridges] from different locations around the island to the suite to get the network connectivity we needed. And it has been going really well.”

A small crew is also on hand in Honolulu: the production team manning the Moana Surfrider set and the competition room at the UH Mānoa, four editors located at the Sheraton Waikiki, an ENG team shooting behind-the-scenes content with the teams, and IT and operations staff. UH Mānoa students are also playing a role in the productions and getting hands-on experience in a live-esports-broadcast environment.

OWL observers remote into cloud-based VMs in both South Korea and Los Angeles.

At the UH Mānoa where teams compete, ABE has deployed Always-On Player POV cameras for each player, a wide shot of the competition room, two handheld cameras, and ambient microphones throughout the room. In addition, the broadcast will incorporate Player POV cams and shots from the competition rooms in China and South Korea.

“We’re focused on making this feel like it’s truly a Grand Finals and not just another Overwatch league show,” says Smith. “We’re upping the scale of the show as much as possible. We owe it to the teams, the players, and the community that’s watching to polish it up and do whatever we can do to entertain them in a new and different way.”

Spanning the Globe: How the Cloud Brings It All Together

Nearly the entire production team, meanwhile, remains remote and continues to use ABE’s cloud-based production workflow. This production model allows the production crew and casters to continue to work entirely from home, from locations across the mainland U.S., Hawaii, South Korea, and China.

Observers use remote stations like this one to tell the story as “in-game camera operators”

The cloud production ecosystem is built around vMix live-video-streaming software and uses software-based Unity intercom, Viz Trio graphics in the cloud, and Parsec remote-desktop software. ABE also created its own master-control platform — dubbed Echo — which can distribute multiple regionalized feeds with different graphics and commercial insertion for each region.

Observers — the “camera operators” who cut the in-game action and are integral to the broadcast — remote into cloud-based VMs in both South Korea and Los Angeles, which provide them with ultra-low-latency connections.

OWL’s cloud-based-production ecosystem is currently built around vMix software

In a first for OWL in the pandemic era, casters are calling the action together in the same room during the playoffs — with one pair in Los Angeles and one in Austin. Previously, casters were calling the action separately from their homes and were integrated into the broadcast via a virtual set.

For the first time in the pandemic-era, OWL broadcasts feature casters calling the action together from the same location.

In addition, the analysts in Honolulu conduct interviews with individuals all over the world throughout the live broadcasts.

Crew members are able to remote into VMs from across the globe via Parsec software

“This has been a truly global show,” says Cole. “We’re bringing all of these international components into a single broadcast, which we’ve never done at this scale before. We’re obviously very familiar with cloud, but, when you start adding all these other locations, it becomes that much more complicated because now you’re coordinating with people on the ground halfway around the world. But it’s coming together quite nicely.”

According to Smith, the most significant challenge for the multisite production was synching the timing of all the different feeds — both local and in the cloud — from around the globe. To account for this, the technical team timed every feed to a uniform delay and then would work through it on the production side from there.

“All of the different feeds that are coming through have been retimed to some degree because the casters have to be able to hear themselves and hear each other,” says Smith. “The timing of all of that is just one giant mathematic problem that we had to solve in order to avoid any lip-sync issues or timing problems when cutting video. That was a massive hurdle that we had to overcome.”

Looking Ahead: Hopeful for a Return to LAN Events, GV AMPP on the Horizon

With the 2021 OWL season soon to be in the rearview mirror, Activision Blizzard Esports is optimistic about returning to in-person events at traditional venues next year — hopefully, venues filled with fans. With that in mind, the ABE Technology Broadcast Group is looking at how to integrate its now ubiquitous cloud-based workflows into onsite events.

The TD cutting the OWL broadcast works remotely from home via the cloud

“Right now, we’re trying figure what we need to do in order to make this all work for when we get back to [in-person] venue shows in 2022,” says Smith. “Hawaii is giving us a blueprint for how this will all look when we roll back to that hybrid production model and [in-person] events.

“When we go back to venue-based shows, that doesn’t mean we’re just going to kill off all the cloud-production [workflows] and go back to trucks. For us, trucks are simply no longer cost-effective because we can do all this production work in the cloud with a small crew onsite. There’s not a world in which we’re going to go back to traditional television broadcast; it’s just not effective for us.”

Observers – along with the majority of the crew – continue to work remotely from home.

Smith adds that the team is currently working with Grass Valley to enhance the GV AMPP (Agile Media Processing Platform) cloud-based SaaS production solution and leverage it for OWL and Call of Duty League productions in 2022.

Cole notes that the agility that the cloud provides opens up a whole new range of possibilities: “The nature of the cloud has allowed us to be very agile with our workflows. When you think about it, all we need for a show are a couple of small-scale switchers, cameras, and a lot of PCs. Everything else is in the cloud. It has given us an outlook on the future where we can definitely make things happen at a drop of a dime.

“During the pandemic,” he continues, we’ve basically said there’s no challenge that we can’t tackle. No matter what the challenge is, we will find a way to solve it.”

Overwatch League sponsors return for playoffs after vanishing – Dexerto

Overwatch League fans have noticed that two of the OWL’s more prominent sponsors, Xfinity and Coca-Cola, have reappeared for the 2021 playoffs after seeming to disappear as Activision-Blizzard’s investigation news broke.

In July 2021, it was revealed that Activision-Blizzard was being sued by California over gender discrimination in the workplace. And, in the months since, the company’s franchised leagues — the Overwatch and Call of Duty Leagues — have quietly suffered from disappearing sponsors. 

By the start of September, three separate waves of sponsorship uncertainties had emerged: T-Mobile was noticed missing on August 2; Coca-Cola and Statefarm were reportedly “reevaluating their partnerships” on August 5; Statefarm, Pringles, and IBM vanished on August 7; and, finally, Xfinity seemed to drop out around September 1.

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Now, fans are surprised to find out that both Coca-Cola and Xfinity returned to the league’s official broadcast for Day 1 of the playoffs on September 21.

As pointed out by Twitter and Reddit users, it seems that Coca-Cola’s tumultuous partnership with the OWL has given way to a renewed sponsorship. 

This is interesting news in particular, as fans had been quick to point out that, during the turmoil, popular player Su-min “SADO” Kim had removed the Coca-Cola labels from his trademark mid-game beverage.

Sado chugs an unspecified bottle of soda from Competitiveoverwatch

Interestingly, Coca-Cola was never removed from the league’s website despite reported partnership uncertainties — but Xfinity was. And, while still not listed on the site, it appears that their sponsorship has returned to the broadcast.

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overwatch league xfinity sponsor return
YouTube, Overwatch League

Xfinity was seen on broadcast during the OWL’s Day 1 playoff stream.

What these renewed partnerships mean for the OWL is uncertain, but many fans speculated such a situation might arise. As mentioned on Reddit, some believed that the sponsors would return once the Activision-Blizzard heat simmered down.

That heat most certainly remains active, as the SEC is now subpoenaing executives like CEO Bobby Kotick. But, with fans excited for an Overwatch 2 show match during the playoffs, this may be as good a time to partner with the OWL than ever.

For now, the OWL, Activision-Blizzard, and sponsors remain quiet about partnership discussions. Concerned fans will likely keep an eye out for sponsors during the rest of the playoffs, though, as there have been reports of league financial struggles.

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‘Overwatch 2’ Chief Chacko Sonny Is Leaving Blizzard: Why This Could Be A Big Deal For Activision – Yahoo Finance

The departures of leading game developers and creators continues for Activision Blizzard Inc (NASDAQ: ATVI). The latest departure could impact one of the company’s highest anticipated games.

What Happened: Overwatch Executive Producer Chacko Sonny is leaving Blizzard Entertainment. He was the development head on the highly anticipated “Overwatch 2” sequel.

“Chacko Sonny is leaving Blizzard to take some time off after 5 years of service,” the company said in a statement to Polygon.

Why It’s Important: Sonny’s departure adds to a long list of people who have left the company:

  • Jeff Kaplan, the director of “Overwatch” left the company in April.

  • “Diablo 4” saw its game director Luis Barriga and lead designer Jess McCree let go by the company.

  • “World of Warcraft” designer Jonathan LeCraft was also let go by the company.

  • Blizzard president J. Allen Brack left the company recently.

The departures and firings come as the company was accused of a hostile work environment and sexual harassment. The accusations led to a high-profile walkout by Activision Blizzard employees.

The controversy surrounding Activision Blizzard has also led to sponsors pulling support for the company’s esports events.

On Tuesday, it was announced the SEC is investigating Activision Blizzard over discrimination allegations from employees.

Related Link: Activision Announces New Co-Leaders Of Blizzard

What’s Next: The departure of another person on the Overwatch team could have gamers and investors concerned about the sequel to the hit game.

“The deep, talented Overwatch team is making excellent progress on Overwatch 2 and thanks to their hard work, the game is in the final stage of production,” the company said in a statement.

Activision Blizzard said it will share more details on the progress of “Overwatch 2” at the Overwatch League Grand Finals, which are scheduled for Saturday, Sept. 25.

“Overwatch 2” doesn’t have a release date yet but many industry experts have pointed to the second quarter of 2022.

“Overwatch” was released in 2016 and hit $1 billion in revenue in 2017. The game hit the 50 million players milestone in 2019 and became a staple in the esports market.

ATVI Price Action: Shares have fallen over the last two trading sessions and are trading near the bottom of their 52-week range of $71.19 to $104.53.

Photo: Screenshot from “Overwatch.”

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Rosen, A Top Ranked Law Firm, Encourages Activision Blizzard, Inc. Investors with Losses to Secure Counsel Before Important October 4 Deadline in Securities Class Action First Filed by Firm – ATVI – Yahoo Finance

New York, New York–(Newsfile Corp. – September 22, 2021) – WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Activision Blizzard, Inc. (NASDAQ: ATVI) between August 4, 2016 and July 27, 2021, inclusive (the “Class Period”), of the important October 4, 2021 lead plaintiff deadline in the securities class action commenced by the firm.

SO WHAT: If you purchased Activision Blizzard securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Activision Blizzard class action, go to http://www.rosenlegal.com/cases-register-2129.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 4, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Activision Blizzard discriminated against women and minority employees; (2) Activision Blizzard fostered a pervasive “frat boy” workplace culture that continues to thrive; (3) numerous complaints about unlawful harassment, discrimination, and retaliation were made to human resources personnel and executives which went unaddressed; (4) the pervasive culture of harassment, discrimination, and retaliation would result in serious impairments to Activision Blizzard’s operations; (5) as a result of the foregoing, the Company was at greater risk of regulatory and legal scrutiny and enforcement, including that which would have a material adverse effect; (6) Activision Blizzard failed to inform shareholders that the California Department of Fair Employment and Housing had been investigating Activision Blizzard for harassment and discrimination; and (7) as a result, defendants’ statements about Activision Blizzard’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Activision Blizzard class action, go to http://www.rosenlegal.com/cases-register-2129.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————-

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97316

Activision Blizzard, Inc. (ATVI): Hedge Funds Are Snapping Up – Yahoo Finance

We know that hedge funds generate strong, risk-adjusted returns over the long run, therefore imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, smart money investors have to conduct complex analyses, spend many resources and use tools that are not always available for the general crowd. This doesn’t mean that they don’t have occasional colossal losses; they do (like Melvin Capital’s recent GameStop losses). However, it is still a good idea to keep an eye on hedge fund activity. With this in mind, as the current round of 13F filings has just ended, let’s examine the smart money sentiment towards Activision Blizzard, Inc. (NASDAQ:ATVI).

Activision Blizzard, Inc. (NASDAQ:ATVI) investors should pay attention to an increase in activity from the world’s largest hedge funds of late. Activision Blizzard, Inc. (NASDAQ:ATVI) was in 78 hedge funds’ portfolios at the end of the second quarter of 2021. The all time high for this statistic is 101. There were 76 hedge funds in our database with ATVI holdings at the end of March. Our calculations also showed that ATVI isn’t among the 30 most popular stocks among hedge funds (click for Q2 rankings).

So, why do we pay attention to hedge fund sentiment before making any investment decisions? Our research has shown that hedge funds’ small-cap stock picks managed to beat the market by double digits annually between 1999 and 2016, but the margin of outperformance has been declining in recent years. Nevertheless, we were still able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 79 percentage points since March 2017 (see the details here). We have been able to outperform the passive index funds by tracking the moves of corporate insiders and hedge funds, and we believe small investors can benefit a lot from reading hedge fund investor letters and 13F filings.

Gabriel Plotkin Melvin Capital Management

Gabriel Plotkin Melvin Capital Management

At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, lithium mining is one of the fastest growing industries right now, so we are checking out stock pitches like this emerging lithium stock. We go through lists like the 10 best EV stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage. With all of this in mind we’re going to take a look at the key hedge fund action encompassing Activision Blizzard, Inc. (NASDAQ:ATVI).

Do Hedge Funds Think ATVI Is A Good Stock To Buy Now?

Heading into the third quarter of 2021, a total of 78 of the hedge funds tracked by Insider Monkey were long this stock, a change of 3% from the previous quarter. The graph below displays the number of hedge funds with bullish position in ATVI over the last 24 quarters. With the smart money’s capital changing hands, there exists an “upper tier” of noteworthy hedge fund managers who were upping their holdings significantly (or already accumulated large positions).

Is ATVI A Good Stock To Buy?

Is ATVI A Good Stock To Buy?

Among these funds, Alkeon Capital Management held the most valuable stake in Activision Blizzard, Inc. (NASDAQ:ATVI), which was worth $444.1 million at the end of the second quarter. On the second spot was Arrowstreet Capital which amassed $322.1 million worth of shares. Melvin Capital Management, Holocene Advisors, and Renaissance Technologies were also very fond of the stock, becoming one of the largest hedge fund holders of the company. In terms of the portfolio weights assigned to each position Incline Global Management allocated the biggest weight to Activision Blizzard, Inc. (NASDAQ:ATVI), around 5.53% of its 13F portfolio. Fernbridge Capital Management is also relatively very bullish on the stock, setting aside 4.44 percent of its 13F equity portfolio to ATVI.

As industrywide interest jumped, key money managers have jumped into Activision Blizzard, Inc. (NASDAQ:ATVI) headfirst. Bridgewater Associates, managed by Ray Dalio, assembled the biggest position in Activision Blizzard, Inc. (NASDAQ:ATVI). Bridgewater Associates had $26.5 million invested in the company at the end of the quarter. Gregg Moskowitz’s Interval Partners also made a $17.7 million investment in the stock during the quarter. The other funds with brand new ATVI positions are James Crichton’s Hitchwood Capital Management, Ben Levine, Andrew Manuel and Stefan Renold’s LMR Partners, and Josh Resnick’s Jericho Capital Asset Management.

Let’s go over hedge fund activity in other stocks similar to Activision Blizzard, Inc. (NASDAQ:ATVI). These stocks are CSX Corporation (NYSE:CSX), The Sherwin-Williams Company (NYSE:SHW), Coupang, Inc. (NYSE:CPNG), Equinix Inc (NASDAQ:EQIX), Snowflake Inc (NYSE:SNOW), Marsh & McLennan Companies, Inc. (NYSE:MMC), and Chubb Limited (NYSE:CB). This group of stocks’ market values are closest to ATVI’s market value.

[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position CSX,56,4223857,3 SHW,49,2028984,-2 CPNG,33,18042813,-7 EQIX,33,1266516,-8 SNOW,70,12507692,-1 MMC,41,2537494,4 CB,42,1737776,1 Average,46.3,6049305,-1.4 [/table]

View table here if you experience formatting issues.

As you can see these stocks had an average of 46.3 hedge funds with bullish positions and the average amount invested in these stocks was $6049 million. That figure was $3652 million in ATVI’s case. Snowflake Inc (NYSE:SNOW) is the most popular stock in this table. On the other hand Coupang, Inc. (NYSE:CPNG) is the least popular one with only 33 bullish hedge fund positions. Compared to these stocks Activision Blizzard, Inc. (NASDAQ:ATVI) is more popular among hedge funds. Our overall hedge fund sentiment score for ATVI is 80.2. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. Our calculations showed that top 5 most popular stocks among hedge funds returned 95.8% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 40 percentage points. These stocks gained 24.1% in 2021 through September 20th and still beat the market by 6.9 percentage points. Unfortunately ATVI wasn’t nearly as popular as these 5 stocks and hedge funds that were betting on ATVI were disappointed as the stock returned -20.2% since the end of the second quarter (through 9/20) and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out the top 5 most popular stocks among hedge funds as most of these stocks already outperformed the market since 2019.

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

Overwatch 2 chief leaves Activision Blizzard – Polygon

Chacko Sonny, the executive producer for Overwatch and development head for Overwatch 2, is leaving developer Blizzard Entertainment. According to Bloomberg, Sonny plans to leave at the end of the week, the latest departure in a larger exodus from the publisher following state and federal investigations into alleged sexual harassment and discrimination at the company.

A statement given by a Blizzard representative to Polygon regarding Sonny’s departure doesn’t mention the company’s ongoing legal battle or internal reckoning.

“Chacko Sonny is leaving Blizzard to take some time off after 5 years of service,” the statement reads. “The deep, talented Overwatch team is making excellent progress on Overwatch 2, and thanks to their hard work, the game is in the final stages of production. We’ll be sharing more at the Overwatch League Grand Finals later this month.”

The Overwatch League Grand Finals are scheduled for Saturday, Sept. 25, 2021.

Overwatch 2 loses executive producer as game enters “final stages of production” – Gamesradar

Blizzard’s Overwatch 2 is saying goodbye to executive producer Chacko Sonny, after the executive revealed he would be leaving the company this week. Bloomberg revealed that Sonny’s last day with the company would be Friday, and that he was seen internally as a “stabilizing force” on the game’s development team. 

“Chacko Sonny is leaving Blizzard to take some time off after 5 years of service,” Blizzard told GamesRadar in a statement. 

“The deep, talented Overwatch team is making excellent progress on Overwatch 2, and thanks to their hard work, the game is in the final stages of production. We’ll be sharing more at the Overwatch League Grand Finals later this month.”

The Overwatch 2 team also lost game director Jeff Kaplan earlier this year, with Aaron Keller, previously the assistant director on Overwatch, stepping into his shoes. While Overwatch 2 is still without a release date, losing two major executives from the development team is significant, especially as there are rumors that the sort of sequel/sort of update could potentially be set for Q2 2022.

Blizzard has confirmed that an early build of the game will be used for the Overwatch World League’s (OWL) 2022 season next April (lining up nicely with those release date rumors) and we’re getting that new Overwatch 2 information Blizzard mentioned – including updates on Bastion and Sombra – on September 25 during the Overwatch League grand finals.

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While Bloomberg reports that Sonny made no reference to it in his departure announcement, the move comes as Activision Blizzard faces a lawsuit over its treatment of staff. 

For all the details you need to know about the ongoing lawsuit facing the Overwatch publisher, you can read up on our Activision Blizzard lawsuit explained article for more.

Dr Disrespect claims he’s done playing Warzone: “Get me off this f**king game” – Dexerto

It looks like Dr Disrespect has finally hit his Warzone breaking point, with the YouTuber admitting he is “genuinely considering stopping” anything to do with the Call of Duty battle royale — on stream or off — until Activision releases Vanguard’s new Tropics map.

Dr Disrespect’s history with Warzone is dotted with rants and raves.

Ever since the battle royale was released midway through 2019, the YouTuber has been suggesting ways to improve the title, dished out bucketloads of roasts and rants, and even quit the game on several occasions.

The Doc’s issues with the Activision-helmed game boils down to two things: its “lackluster speed” and the unstoppable wave of Warzone cheaters swarming the battle royale. These problems have sent Dr Disrespect to Apex Legends, Overwatch, and Valorant for stints in the past.

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This time, however, it looks like the two-time may hang up the CoD sticks for good, with the new Vanguard map the only thing that may bring him back.

Dr Disrespect
YouTube: DrDisrespect

The two-time sounds burnt out with Warzone in a big way ahead of Vanguard’s release.

Dr Disrespect has had plenty of Warzone rants before. In fact, he’s probably close to hitting triple digits. Those all came with his signature over-the-top in-character tirades, however. This time though, during his September 20 stream, the YouTuber just seemed burned out.

“That’s it for me, man,” he sighed.

“Get me off this f**king game. Holy sh*t, what a snooze fest. I’m literally falling asleep… I don’t know if I can do this anymore. I am genuinely feeling like completely stopping until this new map comes out. I’m not getting anything from that map anymore, the gunplay, the gunfights. It’s all the same to me now.

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“I just have no passion, no interest to play a game designed for 11-year-olds,” the two-time continued. “Either 11-year-olds or 85-year-old men. The game has turned into a joke at this point, and I’m just not into it.

“Warzone is just… I really think it’s never been this bad to play. I have no interest left, no enthusiasm. I’ve done it, seen it all, experienced it all in the game.”

Related segment begins at 5:36:04 in the video below.

The one thing Dr Disrespect admits could lure him back to Warzone to grind again would be the release of the new Call of Duty Vanguard map. 

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The YouTuber has already dished out high praise for early leaks of the next battle royale battleground, suggesting the upcoming Pacific battleground “feels like a PUBG map.” Doc pointed out similarities with the forerunner title’s Sanhok map, released back in 2018, and admitted he’s eager to give it a go.

“Yes, please, let’s get the hell out of the Verdansk map.”

Doc previously quit Warzone on July 24, claiming he was “bored” of the battle royale and was now “totally uninterested in playing [Warzone] anymore.”

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