Westport Asset Management Inc. Invests $820,000 in Electronic Arts Inc. $EA

Westport Asset Management Inc. acquired a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 4,000 shares of the game software company’s stock, valued at approximately $820,000.

A number of other hedge funds also recently modified their holdings of the company. Ascentis Independent Advisors acquired a new stake in shares of Electronic Arts during the 1st quarter worth approximately $27,000. Torren Management LLC boosted its stake in Electronic Arts by 235.0% during the second quarter. Torren Management LLC now owns 134 shares of the game software company’s stock worth $27,000 after buying an additional 94 shares in the last quarter. MV Capital Management Inc. acquired a new stake in Electronic Arts during the fourth quarter worth $28,000. Meeder Asset Management Inc. bought a new stake in Electronic Arts in the 2nd quarter valued at $31,000. Finally, Asset Planning Inc bought a new stake in Electronic Arts in the 1st quarter valued at $32,000. Institutional investors own 90.23% of the company’s stock.

Insider Activity at Electronic Arts

In related news, insider Laura Miele sold 2,500 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $203.10, for a total transaction of $507,750.00. Following the completion of the sale, the insider directly owned 73,513 shares of the company’s stock, valued at $14,930,490.30. This trade represents a 3.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vijayanthimala Singh sold 1,200 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $203.00, for a total value of $243,600.00. Following the completion of the transaction, the insider directly owned 26,360 shares in the company, valued at approximately $5,351,080. This represents a 4.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 8,700 shares of company stock valued at $1,766,950 in the last three months. Corporate insiders own 0.24% of the company’s stock.

Electronic Arts Price Performance

EA opened at $209.70 on Thursday. The firm has a market cap of $52.93 billion, a price-to-earnings ratio of 49.23 and a beta of 0.64. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.05 and a current ratio of 1.21. The firm’s 50-day simple moving average is $207.00 and its 200-day simple moving average is $203.47. Electronic Arts Inc. has a twelve month low of $159.10 and a twelve month high of $210.20.

Electronic Arts (NASDAQ:EA) last posted its earnings results on Monday, August 3rd. The game software company reported $1.58 earnings per share (EPS) for the quarter. The company had revenue of $1.99 billion during the quarter. Electronic Arts had a net margin of 13.80% and a return on equity of 22.45%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on EA shares. Argus cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a research note on Thursday, May 28th. Citigroup lifted their price objective on Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings raised Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Zacks Research lowered Electronic Arts from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, Wall Street Zen raised Electronic Arts to a “hold” rating in a report on Saturday, June 6th. One investment analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $206.50.

Electronic Arts Company Profile

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.