Western Standard LLC Acquires New Stake in Electronic Arts Inc. $EA

Western Standard LLC acquired a new stake in shares of Electronic Arts Inc. (NASDAQ:EA) in the second quarter, HoldingsChannel reports. The firm acquired 87,900 shares of the game software company’s stock, valued at approximately $18,023,000. Electronic Arts comprises 6.1% of Western Standard LLC’s portfolio, making the stock its 7th biggest holding.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Electronic Arts during the second quarter worth $5,125,838,000. Pentwater Capital Management LP boosted its stake in shares of Electronic Arts by 128.1% during the fourth quarter. Pentwater Capital Management LP now owns 10,950,000 shares of the game software company’s stock valued at $2,237,414,000 after purchasing an additional 6,150,000 shares during the period. Norges Bank bought a new position in shares of Electronic Arts in the fourth quarter worth about $643,674,000. HBK Investments L P bought a new position in shares of Electronic Arts in the fourth quarter worth about $390,267,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Electronic Arts in the second quarter worth about $269,846,000. Institutional investors own 90.23% of the company’s stock.

Insiders Place Their Bets

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $203.12, for a total transaction of $1,015,600.00. Following the sale, the chief executive officer owned 80,974 shares of the company’s stock, valued at approximately $16,447,438.88. This trade represents a 5.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction on Monday, June 15th. The shares were sold at an average price of $203.10, for a total value of $507,750.00. Following the completion of the transaction, the insider owned 73,513 shares in the company, valued at $14,930,490.30. This represents a 3.29% decrease in their ownership of the stock. 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 have sold a total of 8,700 shares of company stock worth $1,766,950 in the last three months. Corporate insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

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

Electronic Arts Price Performance

EA opened at $209.70 on Thursday. Electronic Arts Inc. has a 12-month low of $159.10 and a 12-month high of $210.20. The company has a current ratio of 1.21, a quick ratio of 1.05 and a debt-to-equity ratio of 0.21. The business’s fifty day simple moving average is $207.00 and its 200-day simple moving average is $203.47. The company has a market capitalization of $52.93 billion, a price-to-earnings ratio of 49.23 and a beta of 0.64.

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

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.