Business

Millennium Management LLC Cuts Position in Electronic Arts Inc. (EA)

Millennium Management LLC lessened its holdings in Electronic Arts Inc. (NASDAQ:EA) by 69.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 343,629 shares of the game software company’s stock after selling 766,113 shares during the quarter. Millennium Management LLC owned about 0.11% of Electronic Arts worth $36,102,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Sciencast Management LP boosted its position in Electronic Arts by 250.8% in the 4th quarter. Sciencast Management LP now owns 8,881 shares of the game software company’s stock worth $1,047,000 after purchasing an additional 6,349 shares in the last quarter. Flinton Capital Management LLC boosted its position in Electronic Arts by 73.8% in the 4th quarter. Flinton Capital Management LLC now owns 51,884 shares of the game software company’s stock worth $5,451,000 after purchasing an additional 22,032 shares in the last quarter. Meadow Creek Investment Management LLC boosted its position in Electronic Arts by 73.8% in the 4th quarter. Meadow Creek Investment Management LLC now owns 24,416 shares of the game software company’s stock worth $2,565,000 after purchasing an additional 10,368 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in Electronic Arts by 5.5% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,478 shares of the game software company’s stock worth $897,000 after purchasing an additional 441 shares in the last quarter. Finally, OLD Mission Capital LLC purchased a new stake in Electronic Arts in the 4th quarter worth approximately $821,000. Institutional investors own 95.45% of the company’s stock.

In other Electronic Arts news, EVP Chris Bruzzo sold 1,500 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $108.51, for a total value of $162,765.00. Following the completion of the sale, the executive vice president now directly owns 38,362 shares of the company’s stock, valued at approximately $4,162,660.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Vijayanthimala Singh sold 200 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $126.75, for a total value of $25,350.00. Following the completion of the sale, the senior vice president now directly owns 4,528 shares of the company’s stock, valued at $573,924. The disclosure for this sale can be found here. Insiders sold a total of 81,079 shares of company stock valued at $9,806,818 over the last ninety days. Corporate insiders own 2.55% of the company’s stock.

Several equities research analysts have commented on the company. Vetr upgraded Electronic Arts from a “buy” rating to a “strong-buy” rating and set a $142.00 price objective on the stock in a research report on Monday, March 19th. ValuEngine lowered Electronic Arts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. BMO Capital Markets increased their target price on Electronic Arts to $150.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded Electronic Arts from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Stifel Nicolaus increased their target price on Electronic Arts from $129.00 to $141.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Seven analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $132.81.

EA stock opened at $121.44 on Friday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $37,721.41, a price-to-earnings ratio of 37.95, a price-to-earnings-growth ratio of 2.24 and a beta of 0.76. Electronic Arts Inc. has a fifty-two week low of $87.94 and a fifty-two week high of $131.13.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, January 30th. The game software company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.03. The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $2.02 billion. Electronic Arts had a return on equity of 25.42% and a net margin of 19.67%. equities research analysts forecast that Electronic Arts Inc. will post 3.66 earnings per share for the current fiscal year.

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Electronic Arts 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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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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