Today: Electronic Arts Inc. (EA) Short Interest Down 10.1% in November

Today: Electronic Arts Inc. (EA) Short Interest Down 10.1% in November

Electronic Arts Inc. (NASDAQ:EA) was the target of a significant decline in short interest in November. As of November 15th, there was short interest totalling 16,009,528 shares, a decline of 10.1% from the October 31st total of 17,804,889 shares. Based on an average daily volume of 5,111,580 shares, the short-interest ratio is currently 3.1 days. Approximately 5.5% of the shares of the stock are sold short.

EA has been the subject of several research analyst reports. Cowen and Company downgraded shares of Electronic Arts from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $96.00 to $82.00 in a report on Friday, October 28th. Vetr downgraded shares of Electronic Arts from a “strong-buy” rating to a “buy” rating and set a $93.33 price target for the company. in a report on Tuesday, October 18th. Morgan Stanley initiated coverage on shares of Electronic Arts in a report on Friday, September 23rd. They set an “overweight” rating and a $101.00 price target for the company. Bank of America Corp. downgraded shares of Electronic Arts from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $86.07 to $53.01 in a report on Monday, October 24th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $89.00 price target on shares of Electronic Arts in a report on Monday, October 24th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $89.11.

Shares of Electronic Arts (NASDAQ:EA) opened at 79.17 on Monday. The firm has a 50-day moving average of $80.67 and a 200 day moving average of $78.92. Electronic Arts has a 1-year low of $53.01 and a 1-year high of $86.07. The stock has a market cap of $23.89 billion, a price-to-earnings ratio of 20.18 and a beta of 0.58.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings data on Tuesday, November 1st. The game software company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.43 by $0.56. Electronic Arts had a return on equity of 23.03% and a net margin of 27.62%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm earned $0.65 EPS. The company’s revenue was up 10.2% on a year-over-year basis. Equities research analysts forecast that Electronic Arts will post $3.70 earnings per share for the current year.

In other news, CEO Andrew Wilson sold 50,000 shares of the company’s stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $85.03, for a total transaction of $4,251,500.00. Following the completion of the transaction, the chief executive officer now directly owns 290,581 shares in the company, valued at $24,708,102.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Samantha S. Smith sold 2,721 shares of the company’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $76.78, for a total transaction of $208,918.38. The disclosure for this sale can be found here. Company insiders own 3.46% of the company’s stock.

A number of large investors have recently bought and sold shares of the company. Archford Capital Strategies LLC raised its stake in Electronic Arts by 1,407.3% in the second quarter. Archford Capital Strategies LLC now owns 1,447 shares of the game software company’s stock valued at $110,000 after buying an additional 1,351 shares during the last quarter. Global X Management Co. LLC raised its stake in Electronic Arts by 113.9% in the third quarter. Global X Management Co. LLC now owns 1,587 shares of the game software company’s stock valued at $136,000 after buying an additional 845 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in 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 valued at $139,000 after buying an additional 1,190 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Electronic Arts during the third quarter valued at approximately $140,000. Finally, Tuttle Tactical Management LLC acquired a new stake in Electronic Arts during the third quarter valued at approximately $153,000. 97.22% of the stock is currently owned by institutional investors and hedge funds.

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