Gabelli Funds LLC boosted its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 75.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,000 shares of the game software company’s stock after buying an additional 3,000 shares during the quarter. Gabelli Funds LLC’s holdings in Electronic Arts were worth $552,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Baystate Wealth Management LLC raised its position in shares of Electronic Arts by 373.1% in the 4th quarter. Baystate Wealth Management LLC now owns 317 shares of the game software company’s stock worth $29,000 after acquiring an additional 250 shares in the last quarter. Legacy Financial Advisors Inc. raised its position in shares of Electronic Arts by 692.2% in the 4th quarter. Legacy Financial Advisors Inc. now owns 610 shares of the game software company’s stock worth $48,000 after acquiring an additional 533 shares in the last quarter. IMS Capital Management bought a new position in shares of Electronic Arts in the 3rd quarter worth about $70,000. CI Investments Inc. bought a new position in shares of Electronic Arts in the 3rd quarter worth about $120,000. Finally, Massey Quick Simon & CO. LLC raised its position in shares of Electronic Arts by 165.4% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 1,083 shares of the game software company’s stock worth $130,000 after acquiring an additional 675 shares in the last quarter. 95.84% of the stock is currently owned by hedge funds and other institutional investors.
EA has been the subject of a number of research analyst reports. BidaskClub raised Electronic Arts from a “sell” rating to a “hold” rating in a research report on Monday, January 7th. Jefferies Financial Group lowered Electronic Arts from a “buy” rating to a “hold” rating and decreased their target price for the company from $139.00 to $95.00 in a research report on Thursday, January 17th. Morgan Stanley decreased their target price on Electronic Arts from $122.00 to $111.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 31st. ValuEngine raised Electronic Arts from a “sell” rating to a “hold” rating in a research report on Thursday, December 6th. Finally, Wedbush reissued a “buy” rating and set a $111.00 price objective (down from $133.00) on shares of Electronic Arts in a report on Wednesday, January 30th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $113.69.
NASDAQ:EA opened at $97.60 on Monday. The firm has a market cap of $29.24 billion, a price-to-earnings ratio of 28.37, a P/E/G ratio of 2.07 and a beta of 1.20. Electronic Arts Inc. has a 1 year low of $73.91 and a 1 year high of $151.26. The company has a current ratio of 2.99, a quick ratio of 2.99 and a debt-to-equity ratio of 0.19.
Electronic Arts (NASDAQ:EA) last posted its earnings results on Tuesday, February 5th. The game software company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.12. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.75 billion. Electronic Arts had a return on equity of 23.21% and a net margin of 26.77%. The business’s quarterly revenue was down 18.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.60) earnings per share. On average, analysts predict that Electronic Arts Inc. will post 3.14 earnings per share for the current fiscal year.
In other news, CFO Blake J. Jorgensen sold 2,617 shares of the company’s stock in a transaction on Friday, December 7th. The shares were sold at an average price of $85.02, for a total value of $222,497.34. Following the transaction, the chief financial officer now owns 101,774 shares of the company’s stock, valued at $8,652,825.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Laura Miele sold 1,250 shares of the company’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $91.77, for a total transaction of $114,712.50. Following the completion of the transaction, the insider now directly owns 6,760 shares in the company, valued at approximately $620,365.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,200 shares of company stock worth $3,425,351. Insiders own 2.24% of the company’s stock.
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Electronic Arts Profile
Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, Mass Effect, Need for Speed, The Sims, and Plants v.
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