CenterBook Partners LP Takes $7.98 Million Position in Electronic Arts Inc. $EA

CenterBook Partners LP purchased a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 39,544 shares of the game software company’s stock, valued at approximately $7,976,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Electronic Arts by 9.4% during the 4th quarter. Brighton Jones LLC now owns 3,420 shares of the game software company’s stock worth $500,000 after buying an additional 294 shares in the last quarter. Empowered Funds LLC grew its holdings in Electronic Arts by 167.0% during the first quarter. Empowered Funds LLC now owns 19,306 shares of the game software company’s stock worth $2,790,000 after acquiring an additional 12,076 shares during the period. Geneos Wealth Management Inc. raised its position in Electronic Arts by 150.8% in the first quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company’s stock worth $46,000 after acquiring an additional 190 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new stake in Electronic Arts in the second quarter valued at $626,000. Finally, Signature Estate & Investment Advisors LLC purchased a new stake in shares of Electronic Arts during the 2nd quarter worth $208,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on EA shares. Zacks Research downgraded shares of Electronic Arts from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Benchmark reaffirmed a “buy” rating on shares of Electronic Arts in a report on Wednesday, October 29th. UBS Group reissued a “neutral” rating on shares of Electronic Arts in a research note on Wednesday, February 4th. Citigroup lowered their price target on Electronic Arts from $207.00 to $202.00 and set a “neutral” rating on the stock in a report on Wednesday, February 4th. Finally, Argus set a $210.00 price objective on Electronic Arts in a report on Thursday, October 30th. Four analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Electronic Arts presently has a consensus rating of “Hold” and an average target price of $186.95.

Insider Activity

In other news, CFO Stuart Canfield sold 1,500 shares of Electronic Arts stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $201.65, for a total value of $302,475.00. Following the completion of the sale, the chief financial officer owned 5,595 shares of the company’s stock, valued at $1,128,231.75. The trade was a 21.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Laura Miele sold 2,500 shares of the stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $204.27, for a total value of $510,675.00. Following the transaction, the insider owned 50,648 shares in the company, valued at $10,345,866.96. This trade represents a 4.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 115,069 shares of company stock valued at $23,194,130 in the last 90 days. Insiders own 0.24% of the company’s stock.

Electronic Arts Stock Down 0.5%

Shares of NASDAQ:EA opened at $199.53 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $49.93 billion, a P/E ratio of 75.01, a P/E/G ratio of 2.42 and a beta of 0.74. Electronic Arts Inc. has a 52-week low of $128.02 and a 52-week high of $204.88. The stock’s fifty day simple moving average is $203.32 and its 200-day simple moving average is $193.50.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. Electronic Arts’s dividend payout ratio is presently 28.57%.

About Electronic Arts

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.