Acadian Asset Management LLC Takes Position in Electronic Arts Inc. (NASDAQ:EA)

Acadian Asset Management LLC acquired a new position in Electronic Arts Inc. (NASDAQ:EA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 313,183 shares of the game software company’s stock, valued at approximately $33,109,000. Acadian Asset Management LLC owned approximately 0.10% of Electronic Arts as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Jacobs & Co. CA boosted its position in shares of Electronic Arts by 21.6% in the first quarter. Jacobs & Co. CA now owns 37,834 shares of the game software company’s stock worth $3,386,000 after buying an additional 6,727 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Electronic Arts by 3.8% in the first quarter. Bank of Montreal Can now owns 373,561 shares of the game software company’s stock worth $33,441,000 after buying an additional 13,771 shares during the last quarter. Gulf International Bank UK Ltd boosted its position in shares of Electronic Arts by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 95,345 shares of the game software company’s stock worth $8,535,000 after buying an additional 1,300 shares during the last quarter. Raymond James Trust N.A. boosted its position in shares of Electronic Arts by 18.8% in the first quarter. Raymond James Trust N.A. now owns 3,708 shares of the game software company’s stock worth $332,000 after buying an additional 588 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. boosted its position in shares of Electronic Arts by 5.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 267,244 shares of the game software company’s stock worth $23,924,000 after buying an additional 14,414 shares during the last quarter. 98.02% of the stock is owned by institutional investors.

Electronic Arts Inc. (EA) traded down 0.39% during midday trading on Tuesday, reaching $116.50. 1,329,898 shares of the company traded hands. The stock has a market capitalization of $36.00 billion, a P/E ratio of 31.19 and a beta of 0.72. The company has a 50 day moving average price of $111.69 and a 200-day moving average price of $98.19. Electronic Arts Inc. has a one year low of $73.74 and a one year high of $120.25.

Electronic Arts (NASDAQ:EA) last posted its earnings results on Thursday, July 27th. The game software company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.22. The business had revenue of $775 million for the quarter, compared to the consensus estimate of $768.47 million. Electronic Arts had a net margin of 23.31% and a return on equity of 29.77%. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 EPS. Analysts forecast that Electronic Arts Inc. will post $4.24 EPS for the current fiscal year.

Electronic Arts announced that its board has approved a share repurchase program on Tuesday, May 9th that authorizes the company to repurchase $1.20 billion in shares. This repurchase authorization authorizes the game software company to repurchase up to 45% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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A number of equities analysts have issued reports on the stock. Pacific Crest restated an “overweight” rating and issued a $112.00 price objective on shares of Electronic Arts in a research report on Wednesday, April 26th. BidaskClub cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. KeyCorp restated a “buy” rating on shares of Electronic Arts in a research report on Sunday, July 30th. Piper Jaffray Companies decreased their price objective on shares of Electronic Arts from $119.00 to $99.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 10th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $94.00 price objective on shares of Electronic Arts in a research report on Thursday, April 20th. Five analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $115.19.

In other news, CEO Andrew Wilson sold 10,058 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $117.00, for a total value of $1,176,786.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Joel Linzner sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $116.96, for a total transaction of $467,840.00. Following the completion of the sale, the executive vice president now owns 18,089 shares in the company, valued at $2,115,689.44. The disclosure for this sale can be found here. Insiders have sold a total of 341,915 shares of company stock worth $37,562,227 in the last three months. Insiders own 2.55% of the company’s stock.

About Electronic Arts

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.

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

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