Manning & Napier Advisors LLC reduced its holdings in Electronic Arts Inc. (NASDAQ:EA) by 4.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,465,586 shares of the game software company’s stock after selling 71,157 shares during the quarter. Electronic Arts makes up 1.5% of Manning & Napier Advisors LLC’s portfolio, making the stock its 24th biggest position. Manning & Napier Advisors LLC owned approximately 0.47% of Electronic Arts worth $173,025,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Bessemer Group Inc. increased its stake in Electronic Arts by 144.5% during the 3rd quarter. Bessemer Group Inc. now owns 1,325 shares of the game software company’s stock valued at $157,000 after buying an additional 783 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Electronic Arts by 310.8% in the second quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the game software company’s stock worth $149,000 after acquiring an additional 1,063 shares in the last quarter. Dupont Capital Management Corp purchased a new position in shares of Electronic Arts in the third quarter worth approximately $183,000. GHP Investment Advisors Inc. purchased a new position in shares of Electronic Arts in the third quarter worth approximately $202,000. Finally, Ray Gerald L & Associates Ltd. acquired a new stake in shares of Electronic Arts during the third quarter worth approximately $208,000. Hedge funds and other institutional investors own 94.56% of the company’s stock.
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Shares of Electronic Arts Inc. (NASDAQ EA) traded up $0.12 during mid-day trading on Friday, hitting $111.60. The stock had a trading volume of 2,445,800 shares, compared to its average volume of 2,852,333. Electronic Arts Inc. has a 12-month low of $73.74 and a 12-month high of $122.79. The firm has a market capitalization of $33,770.00, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 1.82 and a beta of 0.65. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.23.
In other Electronic Arts news, SVP Jacob J. Schatz sold 1,000 shares of Electronic Arts stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $120.77, for a total value of $120,770.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Blake J. Jorgensen sold 10,000 shares of Electronic Arts stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $111.94, for a total value of $1,119,400.00. Following the completion of the sale, the chief financial officer now owns 182,814 shares of the company’s stock, valued at $20,464,199.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 122,524 shares of company stock worth $14,538,985. 2.55% of the stock is owned by insiders.
EA has been the topic of a number of recent analyst reports. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Electronic Arts in a research report on Friday. BMO Capital Markets dropped their target price on shares of Electronic Arts from $100.00 to $97.00 and set a “market perform” rating on the stock in a research report on Thursday, November 2nd. Zacks Investment Research lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Barclays PLC lowered their price target on shares of Electronic Arts from $129.00 to $127.00 and set an “overweight” rating on the stock in a report on Wednesday, November 1st. Finally, Robert W. Baird restated a “buy” rating and issued a $130.00 target price on shares of Electronic Arts in a research note on Wednesday, November 1st. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $123.38.
Electronic Arts Company Profile
Electronic Arts Inc develops, markets, publishes and distributes games, content and services that can be played by consumers on a range of platforms, which include consoles, personal computers (PCs), mobile phones and tablets. The Company’s games and services are based on a portfolio of intellectual property that includes established brands, such as FIFA, Madden NFL, Star Wars, Battlefield, the Sims and Need for Speed.
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