Marsico Capital Management Lowers stake in Electronic Arts (EA)

Electronic Arts (EA) : Marsico Capital Management reduced its stake in Electronic Arts by 30.13% during the most recent quarter end. The investment management company now holds a total of 2,281,387 shares of Electronic Arts which is valued at $171.6 Million after selling 983,815 shares in Electronic Arts , the firm said in a disclosure report filed with the SEC on May 13, 2016.Electronic Arts makes up approximately 5.09% of Marsico Capital Management’s portfolio.

Other Hedge Funds, Including , Hbk Investments L P reduced its stake in EA by selling 45,395 shares or 25.19% in the most recent quarter. The Hedge Fund company now holds 134,784 shares of EA which is valued at $10.1 Million. Electronic Arts makes up approx 0.22% of Hbk Investments L P’s portfolio. Banque Pictet Cie Sa sold out all of its stake in EA during the most recent quarter. The investment firm sold 8,200 shares of EA which is valued $524,308. Trellus Management Company added EA to its portfolio by purchasing 7,000 company shares during the most recent quarter which is valued at $447,580. Electronic Arts makes up approx 1.22% of Trellus Management Company’s portfolio.Rail-splitter Capital Management boosted its stake in EA in the latest quarter, The investment management firm added 24,473 additional shares and now holds a total of 226,858 shares of Electronic Arts which is valued at $14.5 Million. Electronic Arts makes up approx 3.66% of Rail-splitter Capital Management’s portfolio.

Electronic Arts closed down -0.41 points or -0.54% at $74.94 with 20,02,493 shares getting traded on Wednesday. Post opening the session at $75.39, the shares hit an intraday low of $74.84 and an intraday high of $75.8318 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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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