HL Financial Services LLC Boosts Position in Electronic Arts Inc. (EA)
HL Financial Services LLC increased its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 60,126 shares of the game software company’s stock after buying an additional 56 shares during the period. HL Financial Services LLC’s holdings in Electronic Arts were worth $6,357,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Guardian Life Insurance Co. of America raised its position in Electronic Arts by 2.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,190 shares of the game software company’s stock valued at $107,000 after buying an additional 34 shares during the last quarter. Invictus RG raised its position in Electronic Arts by 722.0% in the first quarter. Invictus RG now owns 1,307 shares of the game software company’s stock valued at $117,000 after buying an additional 1,148 shares during the last quarter. D. Scott Neal Inc. bought a new position in Electronic Arts during the second quarter valued at $120,000. Commerce Bank bought a new position in Electronic Arts during the first quarter valued at $203,000. Finally, Intrust Bank NA bought a new position in Electronic Arts during the first quarter valued at $204,000. Institutional investors own 98.02% of the company’s stock.
Shares of Electronic Arts Inc. (EA) opened at 116.96 on Tuesday. The stock has a market capitalization of $36.14 billion, a P/E ratio of 31.31 and a beta of 0.72. The stock has a 50 day moving average of $111.06 and a 200-day moving average of $97.77. Electronic Arts Inc. has a one year low of $73.74 and a one year high of $120.25.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Thursday, July 27th. The game software company reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.22. The company had revenue of $775 million during the quarter, compared to the consensus estimate of $768.47 million. Electronic Arts had a return on equity of 29.77% and a net margin of 23.31%. The firm’s revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 EPS. Equities analysts forecast that Electronic Arts Inc. will post $4.24 earnings per share for the current year.
Electronic Arts declared that its board has authorized a stock buyback program on Tuesday, May 9th that allows the company to repurchase $1.20 billion in shares. This repurchase authorization allows the game software company to repurchase up to 45% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
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A number of brokerages have weighed in on EA. Pacific Crest reiterated an “overweight” rating and set a $112.00 target price on shares of Electronic Arts in a research report on Wednesday, April 26th. BidaskClub lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. KeyCorp reiterated a “buy” rating on shares of Electronic Arts in a research report on Sunday, July 30th. Piper Jaffray Companies cut their target price on shares of Electronic Arts from $119.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, May 10th. Finally, Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $94.00 target price on shares of Electronic Arts in a research report on Thursday, April 20th. Five investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $115.19.
In other Electronic Arts news, EVP Patrick Soderlund sold 55,163 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $107.14, for a total value of $5,910,163.82. Following the completion of the transaction, the executive vice president now directly owns 213,689 shares in the company, valued at approximately $22,894,639.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Wilson sold 10,965 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $108.00, for a total value of $1,184,220.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 341,915 shares of company stock valued at $37,562,227. 2.55% of the stock is currently owned by corporate 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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