Marsico Capital Management Lowers stake in Electronic Arts (EA)

Electronic Arts (EA) : Marsico Capital Management reduced its stake in Electronic Arts by 49.4% during the most recent quarter end. The investment management company now holds a total of 1,154,474 shares of Electronic Arts which is valued at $89,390,922 after selling 1,126,913 shares in Electronic Arts , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Electronic Arts makes up approximately 2.94% of Marsico Capital Management’s portfolio.

Other Hedge Funds, Including , Riverhead Capital Management reduced its stake in EA by selling 143,410 shares or 46.7% in the most recent quarter. The Hedge Fund company now holds 163,701 shares of EA which is valued at $12,675,368. Electronic Arts makes up approx 0.21% of Riverhead Capital Management’s portfolio.Cleararc Capital Inc reduced its stake in EA by selling 239 shares or 3.17% in the most recent quarter. The Hedge Fund company now holds 7,306 shares of EA which is valued at $565,704. Electronic Arts makes up approx 0.11% of Cleararc Capital Inc’s portfolio.First Citizens Bank Trust Co reduced its stake in EA by selling 34,007 shares or 31.15% in the most recent quarter. The Hedge Fund company now holds 75,150 shares of EA which is valued at $5,735,448. Electronic Arts makes up approx 0.50% of First Citizens Bank Trust Co’s portfolio.Quadrant Capital Group boosted its stake in EA in the latest quarter, The investment management firm added 84 additional shares and now holds a total of 107 shares of Electronic Arts which is valued at $8,166. Electronic Arts makes up approx 0.01% of Quadrant Capital Group’s portfolio.Mechanics Bank Trust Department reduced its stake in EA by selling 200 shares or 0.43% in the most recent quarter. The Hedge Fund company now holds 46,350 shares of EA which is valued at $3,555,045. Electronic Arts makes up approx 1.28% of Mechanics Bank Trust Department’s portfolio.

Electronic Arts opened for trading at $81.1 and hit $81.96 on the upside on Monday, eventually ending the session at $81.51, with a gain of 0.37% or 0.3 points. The heightened volatility saw the trading volume jump to 19,75,866 shares. Company has a market cap of $24,515 M.

On the company’s financial health, Electronic Arts reported $0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $-0.03. The company had revenue of $682.00 million for the quarter, compared to analysts expectations of $650.42 million. The company’s revenue was down -1.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.15 EPS.

Many Wall Street Analysts have commented on Electronic Arts. Company shares were Reiterated by MKM Partners on Aug 3, 2016 to “Buy”, Firm has raised the Price Target to $ 88 from a previous price target of $87 .Company shares were Reiterated by The Benchmark Company on May 23, 2016 to “Buy”, Firm has raised the Price Target to $ 93.80 from a previous price target of $82.64 .

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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