Huntington National Bank Maintains Position in Electronic Arts Inc. (EA)
Huntington National Bank continued to hold its stake in shares of Electronic Arts Inc. (NASDAQ:EA) during the second quarter, Holdings Channel reports. The institutional investor owned 135,062 shares of the game software company’s stock at the end of the second quarter. Huntington National Bank’s holdings in Electronic Arts were worth $7,943,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC increased its stake in Electronic Arts by 2.1% in the second quarter. Checchi Capital Advisers LLC now owns 3,562 shares of the game software company’s stock worth $270,000 after buying an additional 74 shares during the last quarter. First Republic Investment Management Inc. increased its position in Electronic Arts by 7.0% in the first quarter. First Republic Investment Management Inc. now owns 3,338 shares of the game software company’s stock valued at $221,000 after buying an additional 217 shares in the last quarter. Bank of Stockton increased its position in Electronic Arts by 1.6% in the second quarter. Bank of Stockton now owns 13,875 shares of the game software company’s stock valued at $1,052,000 after buying an additional 225 shares in the last quarter. Capstone Asset Management Co. increased its position in Electronic Arts by 1.3% in the second quarter. Capstone Asset Management Co. now owns 20,499 shares of the game software company’s stock valued at $1,553,000 after buying an additional 270 shares in the last quarter. Finally, Arizona State Retirement System increased its position in Electronic Arts by 0.6% in the first quarter. Arizona State Retirement System now owns 83,873 shares of the game software company’s stock valued at $5,545,000 after buying an additional 500 shares in the last quarter.
Shares of Electronic Arts Inc. (NASDAQ:EA) traded up 0.27% on Tuesday, reaching $82.99. The company had a trading volume of 2,172,985 shares. The company has a market capitalization of $24.96 billion, a P/E ratio of 23.38 and a beta of 0.72. The company has a 50 day moving average of $80.78 and a 200-day moving average of $73.30. Electronic Arts Inc. has a 52 week low of $53.01 and a 52 week high of $84.45.
Electronic Arts (NASDAQ:EA) last released its quarterly earnings results on Tuesday, August 2nd. The game software company reported $0.07 EPS for the quarter, topping the 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 business earned $682 million during the quarter, compared to analyst estimates of $652.64 million. During the same period last year, the business posted $0.15 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. Analysts predict that Electronic Arts Inc. will post $3.64 earnings per share for the current fiscal year.
Several research firms have recently weighed in on EA. Vetr downgraded Electronic Arts from a “buy” rating to a “hold” rating and set a $84.80 target price on the stock. in a research report on Monday. Bank of America Corp. reissued a “buy” rating on shares of Electronic Arts in a research report on Friday. Stifel Nicolaus boosted their target price on Electronic Arts from $83.00 to $87.00 and gave the company a “buy” rating in a research report on Monday, September 12th. Zacks Investment Research raised Electronic Arts from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research report on Thursday, August 25th. Finally, Cowen and Company reissued an “outperform” rating and set a $83.00 target price on shares of Electronic Arts in a research report on Tuesday, August 23rd. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Electronic Arts has a consensus rating of “Buy” and an average price target of $87.09.
In related news, EVP Peter R. Moore sold 30,798 shares of Electronic Arts stock in a transaction on Monday, June 27th. The stock was sold at an average price of $71.70, for a total value of $2,208,216.60. Following the completion of the transaction, the executive vice president now directly owns 150,530 shares in the company, valued at $10,793,001. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Peter R. Moore sold 10,000 shares of Electronic Arts stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $83.81, for a total value of $838,100.00. The disclosure for this sale can be found here. Insiders own 3.46% of the company’s stock.
Electronic Arts Company Profile
Electronic Arts Inc is a game software content and services provider. The Company develops, markets, publishes and distributes game software content for consumers of various video game machines and electronic devices. It also provides game software-related services. The Company’s brands include Battlefield, Mass Effect, Need for Speed, Dragon Age, The Sims, Bejeweled and Plants v.
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