Bamco Inc. NY Boosts Position in Electronic Arts Inc. (EA)
Bamco Inc. NY lifted its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 10.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,847 shares of the game software company’s stock after acquiring an additional 2,522 shares during the period. Bamco Inc. NY’s holdings in Electronic Arts were worth $2,838,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of EA. Guardian Life Insurance Co. of America grew its holdings in shares of Electronic Arts by 2.9% during the first quarter. Guardian Life Insurance Co. of America now owns 1,190 shares of the game software company’s stock valued at $107,000 after purchasing an additional 34 shares during the last quarter. Invictus RG raised its position in shares of Electronic Arts by 722.0% during the 1st quarter. Invictus RG now owns 1,307 shares of the game software company’s stock worth $117,000 after purchasing an additional 1,148 shares during the period. D. Scott Neal Inc. acquired a new stake in shares of Electronic Arts during the 2nd quarter worth approximately $120,000. Captrust Financial Advisors acquired a new stake in shares of Electronic Arts during the 2nd quarter worth approximately $195,000. Finally, Two Sigma Securities LLC acquired a new stake in shares of Electronic Arts during the 1st quarter worth approximately $205,000. 93.84% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Jacob J. Schatz sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $120.77, for a total value of $120,770.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Wilson sold 10,058 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $117.00, for a total transaction of $1,176,786.00. The disclosure for this sale can be found here. Insiders have sold 185,538 shares of company stock valued at $22,021,739 in the last three months. 2.55% of the stock is owned by insiders.
Electronic Arts Inc. (NASDAQ:EA) opened at 118.06 on Monday. The stock has a 50 day moving average of $118.23 and a 200-day moving average of $106.08. The firm has a market capitalization of $36.45 billion, a P/E ratio of 31.61 and a beta of 0.70. Electronic Arts Inc. has a 1-year low of $73.74 and a 1-year high of $122.79.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Thursday, July 27th. The game software company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.22. The firm had revenue of $775.00 million for the quarter, compared to analyst estimates of $768.47 million. Electronic Arts had a net margin of 23.31% and a return on equity of 29.77%. The business’s revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 earnings per share. On average, equities research analysts anticipate that Electronic Arts Inc. will post $4.24 earnings per share for the current year.
Several brokerages have weighed in on EA. Wedbush reaffirmed a “buy” rating on shares of Electronic Arts in a research report on Friday, July 28th. KeyCorp reissued a “buy” rating on shares of Electronic Arts in a report on Sunday, July 30th. Zacks Investment Research raised shares of Electronic Arts from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a report on Tuesday, August 1st. Mizuho restated a “buy” rating and set a $115.00 price target on shares of Electronic Arts in a research report on Monday, June 12th. Finally, Cowen and Company restated a “market perform” rating and set a $106.00 price target (up previously from $90.00) on shares of Electronic Arts in a research report on Sunday, July 30th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $118.01.
Electronic Arts Company Profile
Electronic Arts Inc develops, markets, publishes and distributes games, content and services that can be played by consumers on a range of platforms, which include consoles, personal computers (PCs), mobile phones and tablets. The Company’s games and services are based on a portfolio of intellectual property that includes established brands, such as FIFA, Madden NFL, Star Wars, Battlefield, the Sims and Need for Speed.
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