Russell Investments Group Ltd. Grows Holdings in Electronic Arts Inc. (EA)

Russell Investments Group Ltd. raised its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 24.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 291,409 shares of the game software company’s stock after purchasing an additional 57,639 shares during the period. Russell Investments Group Ltd. owned approximately 0.10% of Electronic Arts worth $35,066,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State Treasurer State of Michigan increased its holdings in shares of Electronic Arts by 0.6% in the second quarter. State Treasurer State of Michigan now owns 90,806 shares of the game software company’s stock worth $12,805,000 after buying an additional 500 shares during the period. Vision Capital Management Inc. increased its holdings in shares of Electronic Arts by 22.3% in the third quarter. Vision Capital Management Inc. now owns 31,955 shares of the game software company’s stock worth $3,850,000 after buying an additional 5,825 shares during the period. First Trust Advisors LP increased its holdings in shares of Electronic Arts by 333.2% in the second quarter. First Trust Advisors LP now owns 243,908 shares of the game software company’s stock worth $34,396,000 after buying an additional 187,609 shares during the period. Highstreet Asset Management Inc. increased its holdings in shares of Electronic Arts by 45.4% in the second quarter. Highstreet Asset Management Inc. now owns 10,475 shares of the game software company’s stock worth $1,477,000 after buying an additional 3,272 shares during the period. Finally, Twin Capital Management Inc. increased its holdings in shares of Electronic Arts by 1.3% in the second quarter. Twin Capital Management Inc. now owns 88,450 shares of the game software company’s stock worth $12,473,000 after buying an additional 1,160 shares during the period. Institutional investors and hedge funds own 93.41% of the company’s stock.

Electronic Arts stock opened at $94.20 on Friday. The company has a current ratio of 3.84, a quick ratio of 3.84 and a debt-to-equity ratio of 0.19. The company has a market cap of $28.91 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 1.64 and a beta of 0.58. Electronic Arts Inc. has a fifty-two week low of $89.12 and a fifty-two week high of $151.26.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings data on Tuesday, October 30th. The game software company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.46. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Electronic Arts had a return on equity of 26.95% and a net margin of 18.76%. The business’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 EPS. As a group, analysts forecast that Electronic Arts Inc. will post 3.87 earnings per share for the current year.

In other news, CEO Andrew Wilson sold 29,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $113.13, for a total value of $3,280,770.00. Following the sale, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at approximately $2,262,600. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Blake J. Jorgensen sold 10,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $130.06, for a total value of $1,365,630.00. Following the completion of the sale, the chief financial officer now directly owns 135,991 shares in the company, valued at $17,686,989.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 99,500 shares of company stock worth $11,628,780. Insiders own 2.24% of the company’s stock.

Several research firms have recently commented on EA. ValuEngine downgraded Electronic Arts from a “hold” rating to a “sell” rating in a report on Thursday. Morgan Stanley decreased their price objective on Electronic Arts from $122.00 to $111.00 and set an “equal weight” rating on the stock in a report on Wednesday. Credit Suisse Group decreased their price objective on Electronic Arts from $127.00 to $126.00 and set an “outperform” rating on the stock in a report on Wednesday. MKM Partners cut their target price on Electronic Arts to $135.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, UBS Group cut their target price on Electronic Arts from $166.00 to $138.00 and set a “buy” rating on the stock in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $135.96.

About Electronic Arts

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, Mass Effect, Need for Speed, The Sims, and Plants v.

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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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