Municipal Employees Retirement System of Michigan Decreases Position in Electronic Arts Inc. (EA)
Municipal Employees Retirement System of Michigan trimmed its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 21.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,980 shares of the game software company’s stock after selling 2,140 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Electronic Arts were worth $942,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its position in Electronic Arts by 310.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the game software company’s stock worth $149,000 after acquiring an additional 1,063 shares during the last quarter. Bessemer Group Inc. grew its position in Electronic Arts by 144.5% during the 3rd quarter. Bessemer Group Inc. now owns 1,325 shares of the game software company’s stock worth $157,000 after acquiring an additional 783 shares during the last quarter. Dupont Capital Management Corp bought a new position in Electronic Arts during the 3rd quarter worth approximately $183,000. Captrust Financial Advisors bought a new position in Electronic Arts during the 2nd quarter worth approximately $195,000. Finally, GHP Investment Advisors Inc. bought a new position in Electronic Arts during the 3rd quarter worth approximately $202,000. 93.59% of the stock is currently owned by institutional investors.
EA has been the topic of several recent research reports. Zacks Investment Research lowered Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Barclays PLC cut their price objective on Electronic Arts from $129.00 to $127.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 1st. Goldman Sachs Group Inc started coverage on Electronic Arts in a research report on Friday, September 8th. They issued a “buy” rating and a $136.00 price objective on the stock. BidaskClub lowered Electronic Arts from a “hold” rating to a “sell” rating in a research report on Saturday, October 21st. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $128.00 price objective on shares of Electronic Arts in a research report on Thursday, October 12th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Electronic Arts presently has a consensus rating of “Buy” and a consensus price target of $123.38.
In other Electronic Arts news, Director Lawrence F. Probst III sold 55,850 shares of Electronic Arts stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $121.18, for a total transaction of $6,767,903.00. Following the completion of the transaction, the director now owns 171,123 shares in the company, valued at $20,736,685.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jacob J. Schatz sold 1,000 shares of Electronic Arts 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 disclosure for this sale can be found here. Insiders have sold 123,524 shares of company stock worth $14,647,265 over the last 90 days. 2.55% of the stock is currently owned by corporate insiders.
Shares of Electronic Arts Inc. (EA) opened at $107.94 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.38 and a current ratio of 2.38. Electronic Arts Inc. has a 1 year low of $73.74 and a 1 year high of $122.79. The firm has a market capitalization of $33,046.55, a P/E ratio of 27.59, a P/E/G ratio of 1.76 and a beta of 0.65.
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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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