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UBS Ups Electronic Arts Inc. (EA) Rating, Price Target: Do Hedge Funds Want To Play?

What does the smart money think about Electronic Arts Inc. (NASDAQ:EA)?

According to hedge fund intelligence website Insider Monkey, Philippe Laffont‘s Coatue Management had the largest position in Electronic Arts Inc. (NASDAQ:EA), worth close to $385.5 million in 6.55 million shares, comprising 3.7% of its total 13F portfolio. The second-most bullish hedge fund manager is David E. Shaw of D.E. Shaw & Co., L.P., holding a $223.3 million position of 3.8 million shares; the fund had 0.3% of its 13F portfolio invested in the stock. Other peers that are bullish contain Cliff Asness’ AQR Capital Management, Joel Greenblatt’s Gotham Asset Management, and Ken Griffin’s Citadel Investment Group.

As expected, key money managers were leading the bulls’ herd. JAT Capital Management, headed by John Thaler, assembled the most valuable new position in Electronic Arts Inc. (NASDAQ:EA). JAT Capital Management had $10.2 million invested in the company at the end of the quarter in 173,495 shares. David S. Winter and David J. Millstone’s 40 North Management also held a new $3.1 million position in the stock by the end of the quarter, buying 51,917 shares. The other funds with new positions in the stock included Thomas E. Claugus’ GMT Capital, Paul Tudor Jones’ Tudor Investment Corp, and Jacob Gottlieb’s Visium Asset Management.

Since hedge funds and UBS are bullish on Electronic Arts Inc. (NASDAQ:EA), the gaming giant offers not only fun, but potentially good returns for investors at the moment. As consumer spending increases, the gaming sector should be one of the biggest beneficiaries, and EA remains one its top players. We recommend a buy of EA.

Disclosure: None

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