Gerstein Fisher Lowers stake in Electronic Arts (EA)

Electronic Arts (EA) : Gerstein Fisher reduced its stake in Electronic Arts by 3.9% during the most recent quarter end. The investment management company now holds a total of 75,728 shares of Electronic Arts which is valued at $5.7 Million after selling 3,071 shares in Electronic Arts , the firm said in a disclosure report filed with the SEC on May 12, 2016.Electronic Arts makes up approximately 0.78% of Gerstein Fisher’s portfolio.

Other Hedge Funds, Including , Hap Trading sold out all of its stake in EA during the most recent quarter. The investment firm sold 39,490 shares of EA which is valued $3 Million.Sentry Investment Management boosted its stake in EA in the latest quarter, The investment management firm added 1,070 additional shares and now holds a total of 23,832 shares of Electronic Arts which is valued at $1.8 Million. Electronic Arts makes up approx 0.08% of Sentry Investment Management’s portfolio.Strategy Asset Managers reduced its stake in EA by selling 1,880 shares or 5.6% in the most recent quarter. The Hedge Fund company now holds 31,710 shares of EA which is valued at $2 Million. Electronic Arts makes up approx 0.44% of Strategy Asset Managers’s portfolio.Emerald Advisers Incpa reduced its stake in EA by selling 7,013 shares or 37.11% in the most recent quarter. The Hedge Fund company now holds 11,884 shares of EA which is valued at $735,025. Electronic Arts makes up approx 0.04% of Emerald Advisers Incpa’s portfolio.

Electronic Arts closed down -0.39 points or -0.53% at $73.11 with 37,72,479 shares getting traded on Friday. Post opening the session at $73.48, the shares hit an intraday low of $72.93 and an intraday high of $74.01 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Electronic Arts reported $0.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 10, 2016. Analyst had a consensus of $0.42. The company had revenue of $924.00 million for the quarter, compared to analysts expectations of $888.93 million. The company’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS.

Many Wall Street Analysts have commented on Electronic Arts. 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 .Company shares were Reiterated by Stifel on May 12, 2016 to “Buy”, Firm has raised the Price Target to $ 82 from a previous price target of $81 .Company shares were Reiterated by The Benchmark Company on May 11, 2016 to “Buy”, Firm has raised the Price Target to $ 82.64 from a previous price target of $81.48 .

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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