Logan Capital Management Inc. reduced its stake in Electronic Arts Inc. (NASDAQ:EA) by 28.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,945 shares of the game software company’s stock after selling 44,151 shares during the period. Logan Capital Management Inc.’s holdings in Electronic Arts were worth $11,134,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of EA. Westside Investment Management Inc. acquired a new position in shares of Electronic Arts during the second quarter worth approximately $50,000. Daiwa Securities Group Inc. boosted its position in shares of Electronic Arts by 94.1% during the second quarter. Daiwa Securities Group Inc. now owns 26,728 shares of the game software company’s stock worth $2,705,000 after buying an additional 12,959 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Electronic Arts by 49.3% during the second quarter. Quadrant Capital Group LLC now owns 2,059 shares of the game software company’s stock worth $200,000 after buying an additional 680 shares during the period. Harvey Capital Management Inc. acquired a new position in shares of Electronic Arts during the second quarter worth approximately $2,745,000. Finally, World Asset Management Inc boosted its position in shares of Electronic Arts by 0.8% during the second quarter. World Asset Management Inc now owns 20,659 shares of the game software company’s stock worth $2,092,000 after buying an additional 154 shares during the period. Institutional investors own 93.84% of the company’s stock.
NASDAQ EA opened at $92.89 on Friday. The company has a market capitalization of $28.06 billion, a PE ratio of 23.64, a P/E/G ratio of 2.17 and a beta of 1.01. Electronic Arts Inc. has a 1 year low of $73.91 and a 1 year high of $134.00. The firm has a fifty day moving average of $93.25. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.52 and a quick ratio of 2.82.
Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, May 7th. The game software company reported $1.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.43. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Electronic Arts had a return on equity of 19.63% and a net margin of 42.75%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.31 earnings per share. On average, sell-side analysts predict that Electronic Arts Inc. will post 3.7 earnings per share for the current year.
In other Electronic Arts news, CFO Blake J. Jorgensen sold 5,200 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $95.18, for a total transaction of $494,936.00. Following the sale, the chief financial officer now directly owns 116,347 shares of the company’s stock, valued at approximately $11,073,907.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Andrew Wilson sold 9,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $95.07, for a total transaction of $855,630.00. The disclosure for this sale can be found here. Insiders sold 102,079 shares of company stock worth $9,954,960 in the last ninety days. 2.18% of the stock is owned by corporate insiders.
EA has been the subject of several analyst reports. SunTrust Banks set a $107.00 price objective on Electronic Arts and gave the stock a “buy” rating in a research report on Monday, April 8th. MKM Partners reissued a “neutral” rating and set a $100.00 target price (up previously from $92.00) on shares of Electronic Arts in a report on Friday, May 3rd. They noted that the move was a valuation call. Jefferies Financial Group set a $100.00 target price on Electronic Arts and gave the stock a “hold” rating in a report on Wednesday. KeyCorp started coverage on Electronic Arts in a report on Monday, July 29th. They set a “sector weight” rating on the stock. Finally, Piper Jaffray Companies set a $112.00 target price on Electronic Arts and gave the stock a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the company. Electronic Arts currently has an average rating of “Buy” and an average price target of $113.10.
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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