Electronic Arts Inc. (NASDAQ:EA) Sees Large Decrease in Short Interest
Electronic Arts Inc. (NASDAQ:EA) was the target of a significant decline in short interest in May. As of May 31st, there was short interest totalling 7,003,304 shares, a decline of 16.6% from the May 15th total of 8,401,621 shares. Based on an average daily volume of 3,302,006 shares, the days-to-cover ratio is currently 2.1 days. Approximately 2.3% of the shares of the company are short sold.
Shares of Electronic Arts (NASDAQ:EA) traded up 0.01% on Friday, hitting $108.99. The stock had a trading volume of 1,321,900 shares. The company has a market cap of $33.74 billion, a PE ratio of 35.39 and a beta of 0.70. The stock’s 50-day moving average price is $111.09 and its 200 day moving average price is $92.64. Electronic Arts has a 52 week low of $73.74 and a 52 week high of $116.04.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, May 9th. The game software company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.61 by $0.03. Electronic Arts had a net margin of 19.96% and a return on equity of 27.60%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the company posted $0.50 earnings per share. Electronic Arts’s revenue for the quarter was up 16.7% on a year-over-year basis. On average, analysts predict that Electronic Arts will post $4.22 EPS for the current year.
Several equities research analysts have commented on the stock. UBS AG reiterated a “buy” rating and issued a $112.00 price target (up from $96.00) on shares of Electronic Arts in a research report on Thursday, May 11th. Piper Jaffray Companies dropped their price target on shares of Electronic Arts from $119.00 to $99.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 10th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $94.00 price objective on shares of Electronic Arts in a report on Thursday, April 20th. Mizuho restated a “buy” rating and set a $115.00 price objective on shares of Electronic Arts in a report on Monday, June 12th. Finally, Pacific Crest restated an “overweight” rating and set a $112.00 price objective on shares of Electronic Arts in a report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $107.06.
In other Electronic Arts news, CEO Andrew Wilson sold 108,000 shares of the business’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $94.99, for a total value of $10,258,920.00. Following the sale, the chief executive officer now directly owns 100,000 shares in the company, valued at $9,499,000. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Denise Warren sold 1,000 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $108.84, for a total transaction of $108,840.00. Following the completion of the sale, the director now owns 13,665 shares in the company, valued at $1,487,298.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 447,057 shares of company stock worth $47,109,979. Company insiders own 2.55% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Guardian Life Insurance Co. of America raised its position in shares of 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 period. Bessemer Group Inc. raised its position in shares of Electronic Arts by 3,410.0% in the fourth quarter. Bessemer Group Inc. now owns 1,404 shares of the game software company’s stock valued at $111,000 after buying an additional 1,364 shares during the period. Invictus RG raised its position in shares of 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 period. Harvest Fund Management Co. Ltd acquired a new stake in shares of Electronic Arts during the fourth quarter worth about $118,000. Finally, D. Scott Neal Inc. acquired a new stake in shares of Electronic Arts during the second quarter worth about $120,000. 98.11% of the stock is owned by institutional investors and hedge funds.
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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