Cresset Asset Management LLC Sells 4,575 Shares of Electronic Arts Inc. $EA

Cresset Asset Management LLC trimmed its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 41.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,447 shares of the game software company’s stock after selling 4,575 shares during the quarter. Cresset Asset Management LLC’s holdings in Electronic Arts were worth $1,030,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of EA. Ameriprise Financial Inc. boosted its holdings in shares of Electronic Arts by 197.5% in the first quarter. Ameriprise Financial Inc. now owns 2,916,693 shares of the game software company’s stock valued at $421,524,000 after buying an additional 1,936,313 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of Electronic Arts during the first quarter worth $225,102,000. Acadian Asset Management LLC lifted its position in Electronic Arts by 176.6% in the 2nd quarter. Acadian Asset Management LLC now owns 1,862,898 shares of the game software company’s stock valued at $297,465,000 after acquiring an additional 1,189,455 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Electronic Arts by 300.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,454,006 shares of the game software company’s stock worth $210,134,000 after purchasing an additional 1,090,769 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Electronic Arts by 50.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,365,221 shares of the game software company’s stock worth $377,726,000 after purchasing an additional 791,978 shares during the period. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. TD Cowen downgraded Electronic Arts from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. HSBC downgraded Electronic Arts from a “buy” rating to a “hold” rating and set a $191.00 price objective for the company. in a report on Monday, September 29th. Baird R W cut Electronic Arts from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Citigroup upped their price target on Electronic Arts from $206.00 to $207.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Finally, Argus set a $210.00 price target on shares of Electronic Arts in a research note on Thursday, October 30th. Four investment analysts have rated the stock with a Buy rating, twenty-six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $181.21.

Insiders Place Their Bets

In other Electronic Arts news, Director Jeff Huber sold 79,381 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $201.17, for a total value of $15,969,075.77. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Stuart Canfield sold 6,500 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $203.40, for a total value of $1,322,100.00. Following the completion of the sale, the chief financial officer directly owned 5,140 shares of the company’s stock, valued at approximately $1,045,476. The trade was a 55.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 134,869 shares of company stock worth $26,878,477. Company insiders own 0.24% of the company’s stock.

Electronic Arts Trading Down 0.2%

NASDAQ EA opened at $203.51 on Thursday. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $204.64. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.25. The stock has a 50 day moving average of $201.21 and a 200-day moving average of $175.43. The company has a market cap of $50.90 billion, a PE ratio of 59.51, a PEG ratio of 2.44 and a beta of 0.76.

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

Electronic Arts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Wednesday, December 3rd will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.4%. The ex-dividend date is Wednesday, December 3rd. Electronic Arts’s dividend payout ratio (DPR) is 22.22%.

Electronic Arts Profile

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.