Empire Capital Management L.l.c. adds Electronic Arts (EA) to its portfolio

Electronic Arts (EA) : Empire Capital Management L.l.c. added new position in Electronic Arts during the most recent quarter end. The investment management firm now holds 10,000 shares of Electronic Arts which is valued at $774,300 , the company said in a statement filed on Aug 15, 2016 with the SEC.Electronic Arts makes up approximately 2.29% of Empire Capital Management L.l.c.’s portfolio.

Other Hedge Funds, Including , Connor Clark Lunn Investment Management Ltd. boosted its stake in EA in the latest quarter, The investment management firm added 23,400 additional shares and now holds a total of 34,200 shares of Electronic Arts which is valued at $2,648,106. Electronic Arts makes up approx 0.02% of Connor Clark Lunn Investment Management Ltd.’s portfolio.Nomura Asset Management Co Ltd boosted its stake in EA in the latest quarter, The investment management firm added 795 additional shares and now holds a total of 53,156 shares of Electronic Arts which is valued at $4,115,869. Electronic Arts makes up approx 0.07% of Nomura Asset Management Co Ltd’s portfolio.Calvert Investment Management boosted its stake in EA in the latest quarter, The investment management firm added 602 additional shares and now holds a total of 15,816 shares of Electronic Arts which is valued at $1,262,749. Electronic Arts makes up approx 0.06% of Calvert Investment Management’s portfolio.California State Teachers Retirement System reduced its stake in EA by selling 52,247 shares or 7.82% in the most recent quarter. The Hedge Fund company now holds 616,180 shares of EA which is valued at $48,450,233. Electronic Arts makes up approx 0.10% of California State Teachers Retirement System’s portfolio.Rs Investment Management Co reduced its stake in EA by selling 32,060 shares or 12.22% in the most recent quarter. The Hedge Fund company now holds 230,390 shares of EA which is valued at $17,664,001. Electronic Arts makes up approx 0.17% of Rs Investment Management Co’s portfolio.

Electronic Arts opened for trading at $81.52 and hit $81.99 on the upside on Thursday, eventually ending the session at $81.76, with a gain of 0.65% or 0.53 points. The heightened volatility saw the trading volume jump to 18,13,935 shares. Company has a market cap of $24,591 M.

On the company’s financial health, Electronic Arts reported $0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $-0.03. The company had revenue of $682.00 million for the quarter, compared to analysts expectations of $650.42 million. The company’s revenue was down -1.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.15 EPS.

Many Wall Street Analysts have commented on Electronic Arts. Company shares were Reiterated by MKM Partners on Aug 3, 2016 to “Buy”, Firm has raised the Price Target to $ 88 from a previous price target of $87 .Company shares were Reiterated by The Benchmark Company on May 23, 2016 to “Buy”, Firm has raised the Price Target to $ 93.80 from a previous price target of $82.64 .

Electronic Arts Inc is a game software content and services provider. The Company develops markets publishes and distributes game software content for consumers of various video game machines and electronic devices. It also provides game software-related services. The Company’s brands include Battlefield Mass Effect Need for Speed Dragon Age The Sims Bejeweled and Plants v. Zombies as well as brands based on licensed intellectual property such as FIFA Madden NFL and Star Wars. The Company is organized around three divisions: EA Studios Maxis and EA Mobile. The EA Studios division develops games and related content and services across a range of game categories including the FIFA Madden NFL Need for Speed Battlefield Mass Effect and Dragon Age. The Maxis division creates games and related content and services that engage player creativity. The EA Mobile division focuses on developing and publishing interactive games for mobile phones and tablets.

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