Short Interest in Electronic Arts Inc. (EA) Declines By 16.6%

Electronic Arts Inc. (NASDAQ:EA) saw a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 7,003,304 shares, a drop of 16.6% from the May 15th total of 8,401,621 shares. Based on an average daily volume of 3,302,006 shares, the days-to-cover ratio is currently 2.1 days. Currently, 2.3% of the shares of the stock are sold short.

In other news, CEO Andrew Wilson sold 8,000 shares of Electronic Arts stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $89.32, for a total transaction of $714,560.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Jacob J. Schatz sold 2,200 shares of Electronic Arts stock in a transaction on Monday, March 20th. The shares were sold at an average price of $88.80, for a total value of $195,360.00. Following the transaction, the senior vice president now owns 20,980 shares in the company, valued at $1,863,024. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 302,828 shares of company stock worth $30,528,653. 3.46% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the company. Pegasus Partners Ltd. raised its position in shares of Electronic Arts by 2.3% in the fourth quarter. Pegasus Partners Ltd. now owns 11,255 shares of the game software company’s stock worth $886,000 after buying an additional 250 shares during the last quarter. Foundry Partners LLC raised its position in shares of Electronic Arts by 17.9% in the first quarter. Foundry Partners LLC now owns 13,944 shares of the game software company’s stock worth $1,248,000 after buying an additional 2,116 shares during the last quarter. Cigna Investments Inc. New bought a new position in shares of Electronic Arts during the fourth quarter worth $867,000. Keybank National Association OH raised its position in shares of Electronic Arts by 12.5% in the fourth quarter. Keybank National Association OH now owns 16,426 shares of the game software company’s stock worth $1,294,000 after buying an additional 1,823 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of Electronic Arts by 5.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,440 shares of the game software company’s stock worth $822,000 after buying an additional 550 shares during the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Shares of Electronic Arts (EA) opened at 110.51 on Friday. The company’s 50 day moving average price is $107.35 and its 200 day moving average price is $90.48. Electronic Arts has a one year low of $71.01 and a one year high of $116.04. The stock has a market capitalization of $34.26 billion, a price-to-earnings ratio of 35.88 and a beta of 0.59.

Electronic Arts (NASDAQ:EA) last announced its earnings results on Tuesday, May 9th. The game software company reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.03. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.09 billion. Electronic Arts had a return on equity of 27.60% and a net margin of 19.96%. Electronic Arts’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 earnings per share. On average, analysts expect that Electronic Arts will post $4.22 earnings per share for the current fiscal year.

Several equities research analysts have recently weighed in on EA shares. William Blair started coverage on Electronic Arts in a research note on Wednesday, March 1st. They set an “outperform” rating and a $88.28 price objective for the company. Vetr lowered Electronic Arts from a “sell” rating to a “strong sell” rating and set a $75.92 price objective for the company. in a research note on Tuesday, March 7th. Zacks Investment Research lowered Electronic Arts from a “buy” rating to a “hold” rating in a research note on Tuesday, April 4th. Jefferies Group LLC reissued a “buy” rating and set a $110.00 price objective on shares of Electronic Arts in a research note on Monday, April 10th. Finally, BMO Capital Markets reissued a “hold” rating and set a $80.00 price objective on shares of Electronic Arts in a research note on Thursday, April 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $103.50.

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About Electronic Arts

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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