Jericho Capital Asset Management adds Electronic Arts (EA) to its portfolio

Electronic Arts (EA) : Jericho Capital Asset Management added new position in Electronic Arts during the most recent quarter end. The investment management firm now holds 2,472,902 shares of Electronic Arts which is valued at $188,880,255 , the company said in a statement filed on Nov 14, 2016 with the SEC.Electronic Arts makes up approximately 9.89% of Jericho Capital Asset Management’s portfolio.

Other Hedge Funds, Including , Moors Cabot reduced its stake in EA by selling 1,750 shares or 31.82% in the most recent quarter. The Hedge Fund company now holds 3,750 shares of EA which is valued at $290,438. Electronic Arts makes up approx 0.05% of Moors Cabot’s portfolio.Lord Abbett boosted its stake in EA in the latest quarter, The investment management firm added 21,363 additional shares and now holds a total of 202,061 shares of Electronic Arts which is valued at $15,516,264. Electronic Arts makes up approx 0.05% of Lord Abbett’s portfolio.Chase Investment Counsel Corp reduced its stake in EA by selling 5,310 shares or 5.86% in the most recent quarter. The Hedge Fund company now holds 85,363 shares of EA which is valued at $6,921,232. Electronic Arts makes up approx 3.16% of Chase Investment Counsel Corp’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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