Quantitative Systematic Strategies LLC cut its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 2.9% during the second quarter, Holdings Channel reports. The firm owned 10,918 shares of the game software company’s stock after selling 327 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Electronic Arts were worth $805,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the stock. Menta Capital LLC purchased a new position in Electronic Arts during the first quarter valued at about $450,000. M&T Bank Corp boosted its position in Electronic Arts by 20.5% in the first quarter. M&T Bank Corp now owns 79,934 shares of the game software company’s stock valued at $5,285,000 after buying an additional 13,592 shares in the last quarter. Aviva PLC boosted its position in Electronic Arts by 0.4% in the first quarter. Aviva PLC now owns 191,904 shares of the game software company’s stock valued at $12,687,000 after buying an additional 786 shares in the last quarter. BB&T Securities LLC purchased a new position in Electronic Arts during the first quarter valued at about $406,000. Finally, Pegasus Partners Ltd. purchased a new position in Electronic Arts during the first quarter valued at about $637,000.
Electronic Arts Inc. (NASDAQ:EA) traded down 0.66% during mid-day trading on Wednesday, reaching $82.82. The company had a trading volume of 1,096,766 shares. The company has a market capitalization of $24.91 billion, a price-to-earnings ratio of 23.33 and a beta of 0.63. The stock has a 50-day moving average of $83.07 and a 200 day moving average of $75.40. Electronic Arts Inc. has a 12-month low of $53.01 and a 12-month high of $86.07.
Electronic Arts (NASDAQ:EA) last posted its earnings results on Tuesday, August 2nd. The game software company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.09. Electronic Arts had a return on equity of 24.97% and a net margin of 25.85%. The company had revenue of $682 million for the quarter, compared to analyst estimates of $652.64 million. During the same quarter last year, the company earned $0.15 earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts expect that Electronic Arts Inc. will post $3.64 EPS for the current year.
Several equities analysts recently issued reports on the company. Zacks Investment Research cut Electronic Arts from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Vetr cut Electronic Arts from a “strong-buy” rating to a “buy” rating and set a $95.23 target price on the stock. in a report on Monday, October 3rd. Benchmark Co. restated a “hold” rating and set a $98.00 target price on shares of Electronic Arts in a report on Thursday, September 22nd. Bank of America Corp. restated a “buy” rating on shares of Electronic Arts in a report on Friday, September 16th. Finally, Morgan Stanley assumed coverage on Electronic Arts in a report on Friday, September 23rd. They set an “overweight” rating and a $101.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $88.59.
In related news, CEO Andrew Wilson sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $85.03, for a total transaction of $4,251,500.00. Following the completion of the sale, the chief executive officer now directly owns 290,581 shares of the company’s stock, valued at $24,708,102.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joel Linzner sold 8,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $85.34, for a total value of $682,720.00. The disclosure for this sale can be found here. 3.46% of the stock is owned by insiders.
Electronic Arts Company Profile
Electronic Arts Inc develops, markets, publishes and distributes games, content and services that can be played by consumers on a range of platforms, which include consoles, personal computers (PCs), mobile phones and tablets. The Company’s games and services are based on a portfolio of intellectual property that includes established brands, such as FIFA, Madden NFL, Star Wars, Battlefield, the Sims and Need for Speed.
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