Alambic Investment Management L.P. Increases Holdings in Electronic Arts Inc. (NASDAQ:EA)

Alambic Investment Management L.P. grew its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 22.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,700 shares of the game software company’s stock after buying an additional 500 shares during the quarter. Alambic Investment Management L.P.’s holdings in Electronic Arts were worth $270,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Engrave Wealth Partners LLC bought a new position in Electronic Arts during the 4th quarter valued at about $25,000. Arden Trust Co bought a new position in Electronic Arts during the 1st quarter valued at about $26,000. Front Row Advisors LLC grew its holdings in Electronic Arts by 904.0% during the 1st quarter. Front Row Advisors LLC now owns 251 shares of the game software company’s stock valued at $29,000 after purchasing an additional 226 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in Electronic Arts during the 1st quarter valued at about $33,000. Finally, Simon Quick Advisors LLC grew its holdings in Electronic Arts by 767.4% during the 1st quarter. Simon Quick Advisors LLC now owns 399 shares of the game software company’s stock valued at $40,000 after purchasing an additional 353 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Shares of NASDAQ EA traded up $1.98 during midday trading on Friday, reaching $119.34. The company had a trading volume of 912,355 shares, compared to its average volume of 3,410,311. The business’s 50-day simple moving average is $112.53 and its 200 day simple moving average is $106.14. The stock has a market cap of $34.63 billion, a P/E ratio of 11.45, a P/E/G ratio of 4.28 and a beta of 0.91. Electronic Arts Inc. has a 1 year low of $85.69 and a 1 year high of $121.76. The company has a current ratio of 2.45, a quick ratio of 2.84 and a debt-to-equity ratio of 0.05.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, May 5th. The game software company reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.36. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Electronic Arts had a net margin of 54.88% and a return on equity of 16.79%. Analysts predict that Electronic Arts Inc. will post 3.84 earnings per share for the current year.

In related news, CFO Blake J. Jorgensen sold 5,200 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $117.92, for a total transaction of $613,184.00. Following the completion of the transaction, the chief financial officer now owns 62,818 shares of the company’s stock, valued at $7,407,498.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Vijayanthimala Singh sold 500 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $98.38, for a total transaction of $49,190.00. Following the transaction, the insider now directly owns 8,677 shares of the company’s stock, valued at approximately $853,643.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 217,947 shares of company stock valued at $24,794,759. Corporate insiders own 2.18% of the company’s stock.

EA has been the topic of several analyst reports. Piper Sandler upped their price target on shares of Electronic Arts from $106.00 to $124.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. upped their price target on shares of Electronic Arts from $125.00 to $127.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Credit Suisse Group upped their target price on shares of Electronic Arts from $131.00 to $133.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Nomura Instinet upped their target price on shares of Electronic Arts from $120.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, MKM Partners upgraded shares of Electronic Arts from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $120.00 to $114.00 in a research note on Tuesday, March 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. Electronic Arts presently has an average rating of “Buy” and a consensus target price of $122.64.

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.

Further Reading: Limitations of the P/E Growth ratio

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

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