Brant Point Investment Management LLC maintained its position in Electronic Arts Inc. (NASDAQ:EA) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 83,060 shares of the game software company’s stock at the close of the 2nd quarter. Electronic Arts comprises 1.1% of Brant Point Investment Management LLC’s investment portfolio, making the stock its 15th largest holding. Brant Point Investment Management LLC’s holdings in Electronic Arts were worth $8,781,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. D. Scott Neal Inc. acquired a new stake in shares of Electronic Arts during the 2nd quarter valued at approximately $120,000. Guardian Life Insurance Co. of America lifted its position in shares of Electronic Arts by 2.9% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,190 shares of the game software company’s stock valued at $107,000 after acquiring an additional 34 shares during the period. Invictus RG lifted its position in shares of Electronic Arts by 722.0% during the 1st quarter. Invictus RG now owns 1,307 shares of the game software company’s stock valued at $117,000 after acquiring an additional 1,148 shares during the period. Captrust Financial Advisors acquired a new stake in shares of Electronic Arts during the 2nd quarter valued at approximately $195,000. Finally, King Luther Capital Management Corp acquired a new stake in shares of Electronic Arts during the 2nd quarter valued at approximately $224,000. Institutional investors own 93.84% of the company’s stock.
Shares of Electronic Arts Inc. (EA) traded down 0.26% during mid-day trading on Wednesday, hitting $119.90. 665,335 shares of the stock traded hands. Electronic Arts Inc. has a 52 week low of $73.74 and a 52 week high of $122.79. The company has a market cap of $37.02 billion, a price-to-earnings ratio of 32.10 and a beta of 0.68. The stock has a 50-day moving average of $118.23 and a 200-day moving average of $106.08.
Electronic Arts (NASDAQ:EA) last released its quarterly earnings data on Thursday, July 27th. The game software company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.22. The firm had revenue of $775.00 million for the quarter, compared to analyst estimates of $768.47 million. Electronic Arts had a net margin of 23.31% and a return on equity of 29.77%. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.07 EPS. Analysts anticipate that Electronic Arts Inc. will post $4.24 EPS for the current year.
A number of research firms have recently issued reports on EA. Buckingham Research began coverage on shares of Electronic Arts in a research report on Wednesday. They set a “buy” rating and a $143.00 price target for the company. Benchmark Co. raised their price objective on shares of Electronic Arts from $136.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, September 13th. BidaskClub cut shares of Electronic Arts from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 12th. Goldman Sachs Group, Inc. (The) began coverage on shares of Electronic Arts in a research note on Friday, September 8th. They set a “buy” rating and a $136.00 price objective for the company. Finally, Cowen and Company reissued a “hold” rating and set a $106.00 price objective on shares of Electronic Arts in a research note on Friday, September 8th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Electronic Arts currently has a consensus rating of “Buy” and a consensus price target of $118.01.
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In other news, EVP Chris Bruzzo sold 1,500 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $105.98, for a total transaction of $158,970.00. Following the transaction, the executive vice president now owns 33,345 shares in the company, valued at approximately $3,533,903.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Andrew Wilson sold 9,059 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $105.91, for a total transaction of $959,438.69. The disclosure for this sale can be found here. In the last quarter, insiders sold 195,097 shares of company stock worth $23,019,378. Company insiders own 2.55% of the company’s stock.
Electronic Arts 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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