Navellier & Associates’ Biggest Second Quarter Moves

Navellier & Associates increased its stake in Electronic Arts Inc. (NASDAQ:EA) by almost 850% to over 368,000 shares valued at $24.5 million on June 30, 2015. The stake in Electronic Arts Inc. (NASDAQ:EA) now constitutes 2.15% of Navellier & Associates’ equity portfolio. Shares of the game developer have been on a steady rise since the beginning of the year, up by 52% year-to-date and by almost 20% in the second quarter alone. A lot of this surge can be attributed to the upcoming game “Star Wars: Battlefront”, which the company will be releasing this holiday season and which has already generated significant interest among gamers. Most analysts are bullish on the stock, with an average rating of ‘Overweight’ and an average price target of $69.74, almost 3.5% below its current trading price. Philippe Laffont‘s Coatue Management held a significant stake in the company at the end of the first quarter.

Skechers USA Inc (NYSE:SKX) turned out to be the third biggest move of Navellier & Associates in the second quarter. The fund increased its stake in the company by 1,665% during the quarter to 202,034 shares valued at over $22.18 million. Just like the other two companies in which Navellier & Associates made its biggest moves, the shares of Skechers USA Inc (NYSE:SKX) have also been performing very well in 2015, up by over 110% year-to-date and by 52% in the second quarter. The company declares its second quarter earnings on July 21 and analysts expect it to report an EPS of $1.00, above the $0.69 EPS it reported for the same quarter of last year. All ten of the analysts who cover the stock have a ‘Buy’ rating on it, with an average price target of $126.89, very near to the company’s current trading price of $118.70. Jim Simons‘ Renaissance Technologies also increased its stake in the footwear maker, by 292% during the first quarter of 2015 to over 574,000 shares.

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