M&T Bank Corp Decreases Position in Electronic Arts Inc. (EA)

M&T Bank Corp Decreases Position in Electronic Arts Inc. (EA)

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in shares of Electronic Arts by 270.5% in the third quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,630 shares of the game software company’s stock worth $139,000 after buying an additional 1,190 shares during the period. NF Trinity Capital Hong Kong Ltd acquired a new position in shares of Electronic Arts during the third quarter worth about $1,025,000. Lomas Capital Management LLC raised its position in shares of Electronic Arts by 1.8% in the third quarter. Lomas Capital Management LLC now owns 161,945 shares of the game software company’s stock worth $13,831,000 after buying an additional 2,846 shares during the period. Polar Capital LLP raised its position in shares of Electronic Arts by 27.9% in the third quarter. Polar Capital LLP now owns 419,935 shares of the game software company’s stock worth $35,815,000 after buying an additional 91,497 shares during the period. Finally, Latimer Light Capital L.P. acquired a new position in shares of Electronic Arts during the third quarter worth about $16,139,000.

M&T Bank Corp decreased its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 11.7% during the first quarter, Holdings Channel reports. The firm owned 30,684 shares of the game software company’s stock after selling 4,066 shares during the period. M&T Bank Corp’s holdings in Electronic Arts were worth $2,748,000 as of its most recent SEC filing.

Shares of Electronic Arts Inc. (NASDAQ EA) opened at 113.33 on Thursday. The stock has a market cap of $35.14 billion, a PE ratio of 36.80 and a beta of 0.65. Electronic Arts Inc. has a 1-year low of $71.01 and a 1-year high of $114.16. The company’s 50-day moving average price is $100.41 and its 200 day moving average price is $87.67.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings data on Tuesday, May 9th. The game software company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by $0.03. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.09 billion. Electronic Arts had a net margin of 28.10% and a return on equity of 27.22%. 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 business posted $0.50 EPS. Equities analysts forecast that Electronic Arts Inc. will post $4.22 EPS for the current fiscal year.

EA has been the topic of a number of research reports. Mizuho raised their price objective on Electronic Arts from $92.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, February 1st. Jefferies Group LLC raised their price objective on Electronic Arts from $105.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, February 1st. Macquarie restated an “outperform” rating and issued a $88.00 price objective on shares of Electronic Arts in a report on Wednesday, February 1st. Benchmark Co. restated a “buy” rating and issued a $105.16 price objective (up previously from $101.94) on shares of Electronic Arts in a report on Wednesday, February 1st. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $94.00 price objective on shares of Electronic Arts in a report on Thursday, February 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $102.31.

In other Electronic Arts news, Director Jay C. Hoag sold 6,769 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $111.45, for a total transaction of $754,405.05. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Andrew Wilson sold 8,000 shares of the firm’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $89.32, for a total value of $714,560.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 307,958 shares of company stock worth $30,453,124. Corporate insiders own 3.46% of the company’s stock.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:EA”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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