Electronic Arts Inc. (EA) Position Raised by IFP Advisors Inc
IFP Advisors Inc increased its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 7.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 7,538 shares of the game software company’s stock after buying an additional 551 shares during the period. IFP Advisors Inc’s holdings in Electronic Arts were worth $797,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of EA. TimesSquare Capital Management LLC raised its stake in Electronic Arts by 0.5% in the first quarter. TimesSquare Capital Management LLC now owns 767,500 shares of the game software company’s stock valued at $68,707,000 after buying an additional 3,600 shares in the last quarter. Foundry Partners LLC raised its stake in Electronic Arts by 17.9% in the first quarter. Foundry Partners LLC now owns 13,944 shares of the game software company’s stock valued at $1,248,000 after buying an additional 2,116 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in Electronic Arts by 529.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 50,647 shares of the game software company’s stock valued at $5,354,000 after buying an additional 42,599 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Electronic Arts by 15.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 8,077,235 shares of the game software company’s stock valued at $723,074,000 after buying an additional 1,064,602 shares in the last quarter. Finally, State Street Corp raised its stake in Electronic Arts by 2.8% in the first quarter. State Street Corp now owns 11,886,458 shares of the game software company’s stock valued at $1,064,069,000 after buying an additional 318,704 shares in the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.
Electronic Arts Inc. (NASDAQ:EA) opened at 113.99 on Friday. Electronic Arts Inc. has a 52 week low of $73.74 and a 52 week high of $120.25. The stock’s 50 day moving average is $112.06 and its 200 day moving average is $99.21. The firm has a market cap of $35.22 billion, a price-to-earnings ratio of 30.52 and a beta of 0.72.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Thursday, July 27th. The game software company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.22. Electronic Arts had a net margin of 23.31% and a return on equity of 29.77%. The firm had revenue of $775 million for the quarter, compared to analyst estimates of $768.47 million. During the same quarter in the previous year, the firm posted $0.07 earnings per share. The business’s revenue was up 13.6% on a year-over-year basis. Equities research analysts expect that Electronic Arts Inc. will post $4.24 EPS for the current year.
Electronic Arts announced that its Board of Directors has approved a share buyback program on Tuesday, May 9th that allows the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization allows the game software company to reacquire up to 45% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
Several research firms recently commented on EA. Cowen and Company increased their target price on shares of Electronic Arts from $85.00 to $90.00 and gave the company a “market perform” rating in a research note on Tuesday, April 25th. Zacks Investment Research lowered shares of Electronic Arts from a “hold” rating to a “sell” rating in a research note on Friday, April 21st. Jefferies Group LLC reissued a “buy” rating and set a $123.00 target price (up from $110.00) on shares of Electronic Arts in a research note on Wednesday, May 10th. UBS AG reissued a “buy” rating and set a $112.00 target price (up from $96.00) on shares of Electronic Arts in a research note on Thursday, May 11th. Finally, Robert W. Baird reissued an “outperform” rating on shares of Electronic Arts in a research note on Thursday, May 11th. Five analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $115.19.
In other news, EVP Joel Linzner sold 10,000 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $100.34, for a total value of $1,003,400.00. Following the sale, the executive vice president now owns 26,745 shares of the company’s stock, valued at $2,683,593.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Jacob J. Schatz sold 2,200 shares of the business’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $107.22, for a total transaction of $235,884.00. Following the completion of the sale, the senior vice president now directly owns 22,935 shares in the company, valued at approximately $2,459,090.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 336,915 shares of company stock worth $37,032,377. Insiders own 2.55% of the company’s stock.
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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