Resolute Advisors LLC Takes $5.72 Million Position in Electronic Arts Inc. $EA

Resolute Advisors LLC purchased a new stake in shares of Electronic Arts Inc. (NASDAQ:EA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 27,892 shares of the game software company’s stock, valued at approximately $5,719,000. Electronic Arts accounts for about 1.4% of Resolute Advisors LLC’s holdings, making the stock its 14th largest position.

Several other hedge funds have also recently bought and sold shares of the business. Jones Financial Companies Lllp purchased a new position in Electronic Arts during the 2nd quarter valued at about $25,000. Ascentis Independent Advisors purchased a new stake in shares of Electronic Arts in the first quarter worth approximately $27,000. Torren Management LLC boosted its holdings in shares of 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 purchasing an additional 94 shares during the period. MV Capital Management Inc. acquired a new stake in shares of Electronic Arts during the fourth quarter worth approximately $28,000. Finally, Meeder Asset Management Inc. purchased a new position in Electronic Arts during the second quarter valued at approximately $31,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Electronic Arts Price Performance

Shares of EA opened at $209.70 on Wednesday. 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 has a market cap of $52.93 billion, a PE ratio of 49.23 and a beta of 0.64. The firm’s 50 day moving average price is $208.23 and its 200 day moving average price is $204.02. 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 EPS for the quarter. Electronic Arts had a net margin of 13.80% and a return on equity of 22.45%. The company had revenue of $1.99 billion during the quarter.

Insider Activity at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,200 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $203.00, for a total transaction of $243,600.00. Following the transaction, the insider directly owned 26,360 shares of the company’s stock, valued at $5,351,080. This represents a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Wilson sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $203.12, for a total value of $1,015,600.00. Following the transaction, the chief executive officer owned 80,974 shares in the company, valued at approximately $16,447,438.88. This trade represents a 5.82% 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. In the last 90 days, insiders sold 8,700 shares of company stock valued at $1,766,950. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

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

Electronic Arts 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.