Electronic Arts Inc. (EA) Sees Significant Drop in Short Interest
Electronic Arts Inc. (NASDAQ:EA) was the target of a large drop in short interest in the month of December. As of December 30th, there was short interest totalling 10,540,532 shares, a drop of 23.4% from the December 15th total of 13,767,875 shares. Based on an average daily volume of 1,975,644 shares, the short-interest ratio is currently 5.3 days. Approximately 3.6% of the company’s stock are short sold.
In other news, CFO Blake J. Jorgensen sold 10,100 shares of the firm’s stock in a transaction dated Friday, October 21st. The shares were sold at an average price of $82.15, for a total value of $829,715.00. Following the sale, the chief financial officer now directly owns 103,310 shares in the company, valued at approximately $8,486,916.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter R. Moore sold 30,799 shares of the firm’s stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $81.17, for a total transaction of $2,499,954.83. Following the completion of the sale, the executive vice president now owns 77,227 shares in the company, valued at $6,268,515.59. The disclosure for this sale can be found here. Company insiders own 3.46% of the company’s stock.
A number of hedge funds have recently bought and sold shares of EA. Acadian Asset Management LLC boosted its stake in Electronic Arts by 35.9% in the second quarter. Acadian Asset Management LLC now owns 3,772 shares of the game software company’s stock worth $285,000 after buying an additional 996 shares in the last quarter. Checchi Capital Advisers LLC boosted 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 in the last quarter. Shinko Asset Management Co. Ltd. boosted its stake in Electronic Arts by 4,561.3% in the second quarter. Shinko Asset Management Co. Ltd. now owns 37,896 shares of the game software company’s stock worth $2,871,000 after buying an additional 37,083 shares in the last quarter. MSI Financial Services Inc boosted its stake in Electronic Arts by 13.5% in the second quarter. MSI Financial Services Inc now owns 5,610 shares of the game software company’s stock worth $425,000 after buying an additional 666 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in Electronic Arts during the second quarter worth approximately $21,433,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.
EA has been the topic of a number of recent analyst reports. Wedbush set a $95.00 price target on shares of Electronic Arts and gave the company a “buy” rating in a report on Wednesday, November 2nd. Zacks Investment Research upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a research note on Tuesday, December 27th. Vetr cut shares of Electronic Arts from a “strong-buy” rating to a “buy” rating and set a $95.23 target price for the company. in a research note on Monday, October 3rd. Robert W. Baird reiterated an “outperform” rating and issued a $91.00 target price (up from $83.00) on shares of Electronic Arts in a research note on Wednesday, November 2nd. Finally, Stifel Nicolaus lifted their target price on shares of Electronic Arts from $87.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, October 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $88.34.
Shares of Electronic Arts (NASDAQ:EA) opened at 80.35 on Friday. The company has a 50-day moving average of $79.20 and a 200 day moving average of $79.84. The stock has a market cap of $24.25 billion, a price-to-earnings ratio of 20.48 and a beta of 0.55. Electronic Arts has a one year low of $53.01 and a one year high of $86.07.
Electronic Arts (NASDAQ:EA) last posted its quarterly earnings data on Tuesday, November 1st. The game software company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.43 by $0.56. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Electronic Arts had a return on equity of 23.03% and a net margin of 27.62%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.65 EPS. On average, equities analysts forecast that Electronic Arts will post $3.70 earnings per share for the current fiscal year.
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About Electronic Arts
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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