Miracle Mile Advisors LLC Lowers Stock Position in Electronic Arts Inc. (NASDAQ:EA)

Miracle Mile Advisors LLC reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 89.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,203 shares of the game software company’s stock after selling 18,013 shares during the period. Miracle Mile Advisors LLC’s holdings in Electronic Arts were worth $215,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Rational Advisors LLC raised its stake in Electronic Arts by 1,369.5% during the 3rd quarter. Rational Advisors LLC now owns 9,140 shares of the game software company’s stock valued at $894,000 after purchasing an additional 8,518 shares during the period. Salomon & Ludwin LLC bought a new stake in Electronic Arts during the 3rd quarter valued at approximately $39,000. Close Asset Management Ltd raised its stake in Electronic Arts by 4.8% during the 3rd quarter. Close Asset Management Ltd now owns 49,452 shares of the game software company’s stock valued at $4,836,000 after purchasing an additional 2,282 shares during the period. Corient Capital Partners LLC bought a new stake in Electronic Arts during the 3rd quarter valued at approximately $271,000. Finally, Vaughan Nelson Investment Management L.P. raised its stake in Electronic Arts by 19.9% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,838,595 shares of the game software company’s stock valued at $179,852,000 after purchasing an additional 305,000 shares during the period. 92.94% of the stock is currently owned by institutional investors.

In other Electronic Arts news, CFO Blake J. Jorgensen sold 5,200 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $96.06, for a total value of $499,512.00. Following the completion of the sale, the chief financial officer now directly owns 88,975 shares in the company, valued at approximately $8,546,938.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Vijayanthimala Singh sold 500 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $92.73, for a total value of $46,365.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,900 shares of company stock valued at $5,482,636. 2.18% of the stock is owned by company insiders.

Several brokerages recently issued reports on EA. Stifel Nicolaus decreased their target price on Electronic Arts from $115.00 to $114.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Bank of America lifted their price objective on Electronic Arts from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Stephens reaffirmed a “buy” rating on shares of Electronic Arts in a research note on Wednesday, August 21st. Zacks Investment Research raised Electronic Arts from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a research note on Friday, August 2nd. Finally, Jefferies Financial Group set a $100.00 price objective on Electronic Arts and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nineteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $108.96.

EA traded up $0.32 during trading hours on Friday, reaching $97.86. 201,960 shares of the company’s stock traded hands, compared to its average volume of 3,258,410. The firm has a 50-day moving average price of $96.32 and a 200 day moving average price of $95.05. Electronic Arts Inc. has a 52-week low of $73.91 and a 52-week high of $108.80. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $28.13 billion, a PE ratio of 24.90, a PEG ratio of 3.19 and a beta of 0.92.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings data on Tuesday, October 29th. The game software company reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.08. Electronic Arts had a return on equity of 17.54% and a net margin of 54.01%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Equities analysts predict that Electronic Arts Inc. will post 3.72 EPS for the current fiscal year.

Electronic Arts Profile

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, Mass Effect, Need for Speed, The Sims, and Plants v.

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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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