1832 Asset Management L.P. Has $4.39 Million Stock Position in Electronic Arts Inc. $EA

1832 Asset Management L.P. boosted its position in Electronic Arts Inc. (NASDAQ:EA) by 271.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 27,505 shares of the game software company’s stock after buying an additional 20,110 shares during the period. 1832 Asset Management L.P.’s holdings in Electronic Arts were worth $4,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC increased its position in Electronic Arts by 70.1% during the second quarter. Salomon & Ludwin LLC now owns 165 shares of the game software company’s stock worth $26,000 after acquiring an additional 68 shares during the period. MTM Investment Management LLC acquired a new position in shares of Electronic Arts during the 2nd quarter worth approximately $30,000. Frazier Financial Advisors LLC grew its position in shares of Electronic Arts by 328.9% during the 2nd quarter. Frazier Financial Advisors LLC now owns 193 shares of the game software company’s stock worth $31,000 after purchasing an additional 148 shares in the last quarter. NewSquare Capital LLC increased its holdings in shares of Electronic Arts by 67.5% during the second quarter. NewSquare Capital LLC now owns 196 shares of the game software company’s stock worth $31,000 after purchasing an additional 79 shares during the period. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Electronic Arts in the second quarter valued at approximately $37,000. Institutional investors own 90.23% of the company’s stock.

Electronic Arts Trading Up 0.2%

Shares of EA stock opened at $203.92 on Friday. The stock has a market cap of $51.00 billion, a price-to-earnings ratio of 59.63, a PEG ratio of 2.44 and a beta of 0.76. The stock has a 50-day moving average of $201.10 and a 200-day moving average of $174.11. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $204.01.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, October 28th. The game software company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.07). The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.88 billion. Electronic Arts had a net margin of 12.14% and a return on equity of 15.30%. The firm’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.11 earnings per share. On average, equities research analysts forecast that Electronic Arts Inc. will post 4.71 earnings per share for the current year.

Electronic Arts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Wednesday, December 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, December 3rd. Electronic Arts’s payout ratio is currently 22.22%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on EA shares. Baird R W lowered Electronic Arts from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. DA Davidson increased their target price on Electronic Arts from $150.00 to $160.00 and gave the stock a “neutral” rating in a report on Monday, August 11th. Jefferies Financial Group downgraded Electronic Arts from a “buy” rating to a “hold” rating and boosted their price target for the company from $200.00 to $210.00 in a research note on Tuesday, September 30th. TD Cowen cut shares of Electronic Arts from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. Finally, BMO Capital Markets increased their price objective on shares of Electronic Arts from $166.00 to $210.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $181.64.

Insider Activity

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $201.05, for a total value of $1,005,250.00. Following the completion of the transaction, the chief executive officer owned 48,858 shares in the company, valued at $9,822,900.90. This represents a 9.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stuart Canfield sold 1,500 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $201.65, for a total transaction of $302,475.00. Following the completion of the transaction, the chief financial officer owned 5,595 shares in the company, valued at approximately $1,128,231.75. The trade was a 21.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 134,869 shares of company stock worth $26,878,477. Company insiders own 0.24% of the company’s stock.

About Electronic Arts

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.