Schroder Investment Management Group boosted its stake in Electronic Arts Inc. (NASDAQ:EA) by 13.6% in the third quarter, HoldingsChannel.com reports. The firm owned 85,600 shares of the game software company’s stock after acquiring an additional 10,250 shares during the quarter. Schroder Investment Management Group’s holdings in Electronic Arts were worth $10,313,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in EA. Sun Life Financial INC grew its stake in Electronic Arts by 389.4% during the second quarter. Sun Life Financial INC now owns 832 shares of the game software company’s stock worth $117,000 after buying an additional 662 shares during the period. CI Investments Inc. purchased a new stake in Electronic Arts during the third quarter worth approximately $120,000. Massey Quick Simon & CO. LLC grew its stake in Electronic Arts by 165.4% during the third quarter. Massey Quick Simon & CO. LLC now owns 1,083 shares of the game software company’s stock worth $130,000 after buying an additional 675 shares during the period. Stratos Wealth Partners LTD. purchased a new stake in Electronic Arts during the third quarter worth approximately $134,000. Finally, Bray Capital Advisors purchased a new stake in Electronic Arts during the third quarter worth approximately $157,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.
EA has been the topic of a number of recent research reports. ValuEngine cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, August 30th. SunTrust Banks reduced their target price on shares of Electronic Arts to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 31st. Wedbush set a $133.00 target price on shares of Electronic Arts and gave the stock a “buy” rating in a research report on Wednesday, October 31st. TheStreet cut shares of Electronic Arts from a “b-” rating to a “c+” rating in a research report on Friday, November 30th. Finally, KeyCorp reduced their target price on shares of Electronic Arts from $168.00 to $137.00 and set an “overweight” rating on the stock in a research report on Friday, August 31st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Electronic Arts has a consensus rating of “Buy” and an average target price of $134.68.
In other Electronic Arts news, insider Laura Miele sold 1,250 shares of the stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $93.83, for a total transaction of $117,287.50. Following the sale, the insider now directly owns 10,961 shares of the company’s stock, valued at $1,028,470.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Jacob J. Schatz sold 1,000 shares of the stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $113.42, for a total transaction of $113,420.00. Following the sale, the general counsel now directly owns 18,029 shares in the company, valued at $2,044,849.18. The disclosure for this sale can be found here. Insiders sold 74,450 shares of company stock worth $7,925,690 over the last ninety days. 2.24% of the stock is currently owned by corporate insiders.
EA opened at $81.18 on Wednesday. The firm has a market capitalization of $25.40 billion, a P/E ratio of 23.60, a P/E/G ratio of 1.45 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.52 and a current ratio of 3.52. Electronic Arts Inc. has a 12-month low of $80.42 and a 12-month high of $151.26.
Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, October 30th. The game software company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.46. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Electronic Arts had a net margin of 18.76% and a return on equity of 26.01%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.62 earnings per share. As a group, equities research analysts anticipate that Electronic Arts Inc. will post 3.87 EPS for the current fiscal year.
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Electronic Arts Profile
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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