Catalyst Funds Management Pty Ltd Cuts Position in Electronic Arts Inc. $EA

Catalyst Funds Management Pty Ltd cut its stake in Electronic Arts Inc. (NASDAQ:EA) by 92.2% in the 4th quarter, Holdings Channel reports. The fund owned 1,250 shares of the game software company’s stock after selling 14,750 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in Electronic Arts were worth $255,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameriflex Group Inc. boosted its position in Electronic Arts by 100.0% during the third quarter. Ameriflex Group Inc. now owns 138 shares of the game software company’s stock valued at $28,000 after buying an additional 69 shares during the period. Oakworth Capital Inc. purchased a new stake in Electronic Arts during the third quarter valued at about $30,000. Salomon & Ludwin LLC boosted its position in Electronic Arts by 32.8% during the fourth quarter. Salomon & Ludwin LLC now owns 231 shares of the game software company’s stock valued at $47,000 after buying an additional 57 shares during the period. Tidemark LLC purchased a new stake in Electronic Arts during the third quarter valued at about $50,000. Finally, Asset Dedication LLC boosted its position in Electronic Arts by 333.3% during the third quarter. Asset Dedication LLC now owns 260 shares of the game software company’s stock valued at $52,000 after buying an additional 200 shares during the period. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Electronic Arts Stock Performance

Electronic Arts stock opened at $200.97 on Monday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average of $201.95 and a 200-day moving average of $202.25. The firm has a market cap of $50.39 billion, a P/E ratio of 57.58, a P/E/G ratio of 2.22 and a beta of 0.66. Electronic Arts Inc. has a 1-year low of $141.19 and a 1-year high of $204.88.

Electronic Arts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 27th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Wednesday, May 27th. Electronic Arts’s dividend payout ratio is currently 21.78%.

Analysts Set New Price Targets

Several research firms have issued reports on EA. UBS Group restated a “neutral” rating on shares of Electronic Arts in a research report on Wednesday, February 4th. Citigroup upped their price target on shares of Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings upgraded shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Three equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $196.64.

Insider Activity at Electronic Arts

In other news, insider Vijayanthimala Singh sold 1,200 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $200.81, for a total transaction of $240,972.00. Following the completion of the sale, the insider directly owned 27,560 shares in the company, valued at approximately $5,534,323.60. This represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jacob J. Schatz sold 5,000 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $201.19, for a total transaction of $1,005,950.00. Following the sale, the executive vice president owned 42,287 shares of the company’s stock, valued at approximately $8,507,721.53. This represents a 10.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 39,906 shares of company stock valued at $8,032,336 in the last quarter. 0.24% of the stock is currently owned by company insiders.

Electronic Arts Company Profile

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.