Mark Asset Management Corp lowered its stake in Electronic Arts Inc. (NASDAQ:EA) by 96.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,469 shares of the game software company’s stock after selling 68,102 shares during the period. Mark Asset Management Corp’s holdings in Electronic Arts were worth $297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its position in shares of Electronic Arts by 31.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,697,249 shares of the game software company’s stock worth $1,168,422,000 after acquiring an additional 2,339,158 shares in the last quarter. Egerton Capital UK LLP raised its position in shares of Electronic Arts by 79.8% during the 2nd quarter. Egerton Capital UK LLP now owns 4,041,717 shares of the game software company’s stock worth $569,963,000 after acquiring an additional 1,794,024 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Electronic Arts by 3,732.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 951,463 shares of the game software company’s stock worth $4,094,000 after acquiring an additional 926,639 shares in the last quarter. Brown Advisory Inc. raised its position in shares of Electronic Arts by 25.4% during the 3rd quarter. Brown Advisory Inc. now owns 3,666,061 shares of the game software company’s stock worth $441,724,000 after acquiring an additional 742,742 shares in the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in shares of Electronic Arts during the 3rd quarter worth about $66,023,000. 94.99% of the stock is currently owned by institutional investors.
Electronic Arts stock opened at $81.18 on Wednesday. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.19. Electronic Arts Inc. has a 1-year low of $80.42 and a 1-year high of $151.26. The company has a market capitalization of $25.40 billion, a P/E ratio of 23.60, a price-to-earnings-growth ratio of 1.45 and a beta of 1.02.
Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, October 30th. The game software company reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.46. Electronic Arts had a return on equity of 26.01% and a net margin of 18.76%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the business earned $0.62 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, equities analysts anticipate that Electronic Arts Inc. will post 3.87 earnings per share for the current fiscal year.
Several brokerages have recently weighed in on EA. ValuEngine lowered Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, August 30th. SunTrust Banks lowered their target price on Electronic Arts to $140.00 and set a “buy” rating on the stock in a research note on Friday, August 31st. Wedbush set a $133.00 target price on Electronic Arts and gave the company a “buy” rating in a research note on Wednesday, October 31st. TheStreet downgraded Electronic Arts from a “b-” rating to a “c+” rating in a research note on Friday, November 30th. Finally, KeyCorp lowered their target price on Electronic Arts from $168.00 to $137.00 and set an “overweight” rating on the stock in a research note on Friday, August 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. Electronic Arts presently has a consensus rating of “Buy” and an average price target of $134.68.
In other Electronic Arts news, insider Laura Miele sold 1,250 shares of the business’s stock in a transaction on Thursday, November 1st. The stock was 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 in the company, valued at $1,028,470.63. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Wilson sold 29,000 shares of the business’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $117.56, for a total value of $3,409,240.00. Following the sale, the chief executive officer now owns 20,000 shares in the company, valued at $2,351,200. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,450 shares of company stock worth $7,925,690. Company insiders own 2.24% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Mark Asset Management Corp Has $297,000 Holdings in Electronic Arts Inc. (EA)” was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece on another website, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this piece can be accessed at https://www.dispatchtribunal.com/2018/12/05/mark-asset-management-corp-has-297000-holdings-in-electronic-arts-inc-ea.html.
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.
See Also: Relative Strength Index
Want to see what other hedge funds are holding EA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Electronic Arts Inc. (NASDAQ:EA).
Receive News & Ratings for Electronic Arts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Electronic Arts and related companies with MarketBeat.com's FREE daily email newsletter.