Newbrook Capital Advisors Lp Lowers stake in Electronic Arts (EA)

Electronic Arts (EA) : Newbrook Capital Advisors Lp reduced its stake in Electronic Arts by 19.13% during the most recent quarter end. The investment management company now holds a total of 712,617 shares of Electronic Arts which is valued at $55,177,934 after selling 168,596 shares in Electronic Arts , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Electronic Arts makes up approximately 7.35% of Newbrook Capital Advisors Lp’s portfolio.

Other Hedge Funds, Including , Fiduciary Trust Co reduced its stake in EA by selling 4,631 shares or 25.96% in the most recent quarter. The Hedge Fund company now holds 13,205 shares of EA which is valued at $1,022,463. Electronic Arts makes up approx 0.03% of Fiduciary Trust Co’s portfolio.Ontario Teachers Pension Plan Board reduced its stake in EA by selling 6,888 shares or 27.08% in the most recent quarter. The Hedge Fund company now holds 18,548 shares of EA which is valued at $1,436,172. Electronic Arts makes up approx 0.02% of Ontario Teachers Pension Plan Board’s portfolio.Cibc World Markets Corp boosted its stake in EA in the latest quarter, The investment management firm added 1,772 additional shares and now holds a total of 20,319 shares of Electronic Arts which is valued at $1,573,300. Electronic Arts makes up approx 0.05% of Cibc World Markets Corp’s portfolio.Renaissance Group reduced its stake in EA by selling 25,999 shares or 6.19% in the most recent quarter. The Hedge Fund company now holds 393,902 shares of EA which is valued at $30,499,832. Electronic Arts makes up approx 1.23% of Renaissance Group’s portfolio.Advisory Services Network boosted its stake in EA in the latest quarter, The investment management firm added 322 additional shares and now holds a total of 4,788 shares of Electronic Arts which is valued at $367,096. Electronic Arts makes up approx 0.08% of Advisory Services Network’s portfolio.

Electronic Arts opened for trading at $81.52 and hit $81.99 on the upside on Thursday, eventually ending the session at $81.76, with a gain of 0.65% or 0.53 points. The heightened volatility saw the trading volume jump to 18,13,935 shares. Company has a market cap of $24,591 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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