Electronic Arts (EA) : Newbrook Capital Advisors Lp reduced its stake in Electronic Arts by 19.13% during the most recent quarter end. The investment management company now holds a total of 712,617 shares of Electronic Arts which is valued at $53.6 Million after selling 168,596 shares in Electronic Arts , the firm said in a disclosure report filed with the SEC on May 13, 2016.Electronic Arts makes up approximately 7.38% of Newbrook Capital Advisors Lp’s portfolio.
Other Hedge Funds, Including , Jackson Square Partners boosted its stake in EA in the latest quarter, The investment management firm added 1,509,427 additional shares and now holds a total of 12,098,912 shares of Electronic Arts which is valued at $909.8 Million. Electronic Arts makes up approx 4.10% of Jackson Square Partners’s portfolio. United Capital Financial Advisers added EA to its portfolio by purchasing 4,393 company shares during the most recent quarter which is valued at $330,354. Suffolk Capital Management added EA to its portfolio by purchasing 144,940 company shares during the most recent quarter which is valued at $10.9 Million. Electronic Arts makes up approx 1.46% of Suffolk Capital Management’s portfolio.Checchi Capital Advisers reduced its stake in EA by selling 46 shares or 1.3% in the most recent quarter. The Hedge Fund company now holds 3,488 shares of EA which is valued at $223,023. Electronic Arts makes up approx 0.06% of Checchi Capital Advisers’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 Companys 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.