Zweig-dimenna Associates buys $36,640,749 stake in Electronic Arts (EA)

Electronic Arts (EA) : Zweig-dimenna Associates scooped up 106,750 additional shares in Electronic Arts during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 10, 2016. The investment management firm now holds a total of 487,244 shares of Electronic Arts which is valued at $36,640,749.Electronic Arts makes up approximately 3.23% of Zweig-dimenna Associates’s portfolio.

Other Hedge Funds, Including , Blackrock Fund Advisors reduced its stake in EA by selling 343,058 shares or 5.9% in the most recent quarter. The Hedge Fund company now holds 5,475,688 shares of EA which is valued at $411,771,738. Electronic Arts makes up approx 0.10% of Blackrock Fund Advisors’s portfolio.Airain Ltd boosted its stake in EA in the latest quarter, The investment management firm added 891 additional shares and now holds a total of 19,416 shares of Electronic Arts which is valued at $1,460,083. Electronic Arts makes up approx 0.10% of Airain Ltd’s portfolio.Hanseatic Management Services Inc reduced its stake in EA by selling 58,578 shares or 99.3% in the most recent quarter. The Hedge Fund company now holds 411 shares of EA which is valued at $26,279. Electronic Arts makes up approx 0.01% of Hanseatic Management Services Inc’s portfolio.Mitsubishi Ufj Kokusai Asset Management Ltd. reduced its stake in EA by selling 82,750 shares or 44.5% in the most recent quarter. The Hedge Fund company now holds 103,208 shares of EA which is valued at $6,599,120. Electronic Arts makes up approx 0.18% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio. Cordasco Financial Network added EA to its portfolio by purchasing 750 company shares during the most recent quarter which is valued at $46,388. Electronic Arts makes up approx 0.05% of Cordasco Financial Network’s portfolio.

Electronic Arts opened for trading at $75.07 and hit $77.15 on the upside on Monday, eventually ending the session at $76.62, with a gain of 1.89% or 1.42 points. The heightened volatility saw the trading volume jump to 43,29,196 shares. Company has a market cap of $23,699 M.

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 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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