BlueMountain Capital Management LLC Takes $2.34 Million Position in Electronic Arts Inc. (EA)
BlueMountain Capital Management LLC bought a new stake in Electronic Arts Inc. (NASDAQ:EA) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 22,143 shares of the game software company’s stock, valued at approximately $2,341,000.
A number of other institutional investors also recently bought and sold shares of EA. TimesSquare Capital Management LLC grew its stake in shares of 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 worth $68,707,000 after acquiring an additional 3,600 shares in the last quarter. Allen Investment Management LLC acquired a new position in shares of Electronic Arts in the second quarter worth $905,000. Mn Services Vermogensbeheer B.V. grew its stake in shares of 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 worth $5,354,000 after acquiring an additional 42,599 shares in the last quarter. Swiss National Bank grew its stake in shares of Electronic Arts by 5.3% in the second quarter. Swiss National Bank now owns 1,125,555 shares of the game software company’s stock worth $118,994,000 after acquiring an additional 56,300 shares in the last quarter. Finally, Delta Lloyd Asset Management N.V. acquired a new position in shares of Electronic Arts in the second quarter worth $3,019,000. Hedge funds and other institutional investors own 93.84% of the company’s stock.
Shares of Electronic Arts Inc. (NASDAQ EA) opened at 119.42 on Monday. Electronic Arts Inc. has a one year low of $73.74 and a one year high of $122.79. The stock has a 50 day moving average of $118.08 and a 200-day moving average of $105.34. The stock has a market capitalization of $36.87 billion, a PE ratio of 31.97 and a beta of 0.68.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Thursday, July 27th. The game software company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.22. The company had revenue of $775.00 million during 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 firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period last year, the business earned $0.07 EPS. Equities analysts predict that Electronic Arts Inc. will post $4.24 earnings per share for the current fiscal year.
In other news, CFO Blake J. Jorgensen sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $117.14, for a total value of $1,171,400.00. Following the transaction, the chief financial officer now directly owns 199,614 shares in the company, valued at approximately $23,382,783.96. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lawrence F. Probst III sold 68,072 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $118.83, for a total transaction of $8,088,995.76. Following the completion of the transaction, the director now owns 176,348 shares in the company, valued at $20,955,432.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 195,097 shares of company stock worth $23,019,378. Insiders own 2.55% of the company’s stock.
EA has been the subject of several research reports. BidaskClub upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Needham & Company LLC initiated coverage on shares of Electronic Arts in a research note on Monday, July 17th. They issued a “buy” rating and a $130.00 price target for the company. Stifel Nicolaus restated a “buy” rating on shares of Electronic Arts in a research note on Monday, July 17th. Benchmark Co. boosted their price target on shares of Electronic Arts from $114.00 to $131.00 and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Finally, Mizuho restated a “buy” rating and issued a $115.00 price target on shares of Electronic Arts in a research note on Monday, June 12th. Four analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Electronic Arts has an average rating of “Buy” and a consensus target price of $117.01.
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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