Friess Associates buys $24,662,033 stake in Electronic Arts (EA)

Electronic Arts (EA) : Friess Associates scooped up 7,658 additional shares in Electronic Arts during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 322,886 shares of Electronic Arts which is valued at $24,662,033.Electronic Arts makes up approximately 2.47% of Friess Associates’s portfolio.

Other Hedge Funds, Including , Two Sigma Investments Lp reduced its stake in EA by selling 1,599,616 shares or 93.18% in the most recent quarter. The Hedge Fund company now holds 117,119 shares of EA which is valued at $8,945,549. Electronic Arts makes up approx 0.04% of Two Sigma Investments Lp’s portfolio.California State Teachers Retirement System boosted its stake in EA in the latest quarter, The investment management firm added 5,200 additional shares and now holds a total of 621,380 shares of Electronic Arts which is valued at $49,362,427. Electronic Arts makes up approx 0.10% of California State Teachers Retirement System’s portfolio.Standard Life Investments Ltd boosted its stake in EA in the latest quarter, The investment management firm added 186,449 additional shares and now holds a total of 4,851,825 shares of Electronic Arts which is valued at $401,537,037. Electronic Arts makes up approx 1.75% of Standard Life Investments Ltd’s portfolio.Jag Capital Management reduced its stake in EA by selling 3,809 shares or 1.93% in the most recent quarter. The Hedge Fund company now holds 193,534 shares of EA which is valued at $16,016,874. Electronic Arts makes up approx 3.20% of Jag Capital Management’s portfolio.

Electronic Arts closed down -0.63 points or -0.79% at $78.99 with 31,80,501 shares getting traded on Monday. Post opening the session at $79.8, the shares hit an intraday low of $78.76 and an intraday high of $80.61 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Electronic Arts reported $-0.13 EPS for the quarter, based on the information available during the earnings call on Nov 1, 2016. Analyst had a consensus estimate of $-0.13. The company had revenue of $898.00 million for the quarter, compared to analysts expectations of $1085.05 million. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS.

Many Wall Street Analysts have commented on Electronic Arts. Company shares were Reiterated by Mizuho on Nov 2, 2016 to “Neutral”, Firm has raised the Price Target to $ 92 from a previous price target of $84 .Company shares were Reiterated by Wedbush on Oct 26, 2016 to “Neutral”, Firm has raised the Price Target to $ 92 from a previous price target of $86 .Electronic Arts was Downgraded by BofA/Merrill to ” Neutral” on Oct 24, 2016.

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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