Mechanics Bank Trust Department Lowers stake in Electronic Arts (EA)

Electronic Arts (EA) : Mechanics Bank Trust Department reduced its stake in Electronic Arts by 0.43% during the most recent quarter end. The investment management company now holds a total of 46,350 shares of Electronic Arts which is valued at $3,555,045 after selling 200 shares in Electronic Arts , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.Electronic Arts makes up approximately 1.28% of Mechanics Bank Trust Department’s portfolio.

Other Hedge Funds, Including , Eagle Asset Management Inc boosted its stake in EA in the latest quarter, The investment management firm added 200,096 additional shares and now holds a total of 250,393 shares of Electronic Arts which is valued at $19,205,143. Electronic Arts makes up approx 0.13% of Eagle Asset Management Inc’s portfolio. Trellus Management Company sold out all of its stake in EA during the most recent quarter. The investment firm sold 7,000 shares of EA which is valued $536,900.Coastline Trust Co boosted its stake in EA in the latest quarter, The investment management firm added 3,015 additional shares and now holds a total of 15,265 shares of Electronic Arts which is valued at $1,170,826. Electronic Arts makes up approx 0.23% of Coastline Trust Co’s portfolio.

Electronic Arts opened for trading at $77.22 and hit $78.22 on the upside on Wednesday, eventually ending the session at $76.7, with a gain of 0.26% or 0.2 points. The heightened volatility saw the trading volume jump to 54,81,991 shares. Company has a market cap of $23,133 M.

On the company’s financial health, Electronic Arts reported $0.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 10, 2016. Analyst had a consensus of $0.42. The company had revenue of $924.00 million for the quarter, compared to analysts expectations of $888.93 million. The company’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS.

Many Wall Street Analysts have commented on Electronic Arts. 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 .Company shares were Reiterated by Stifel on May 12, 2016 to “Buy”, Firm has raised the Price Target to $ 82 from a previous price target of $81 .Company shares were Reiterated by The Benchmark Company on May 11, 2016 to “Buy”, Firm has raised the Price Target to $ 82.64 from a previous price target of $81.48 .

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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