Connor Clark & Lunn Investment Management Ltd. lifted its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 1,901.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,771 shares of the game software company's stock after acquiring an additional 32,084 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Electronic Arts were worth $4,941,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Versor Investments LP bought a new position in Electronic Arts in the 3rd quarter worth about $250,000. Prime Capital Investment Advisors LLC increased its holdings in Electronic Arts by 5.1% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,572 shares of the game software company's stock worth $225,000 after purchasing an additional 76 shares during the period. Metis Global Partners LLC raised its position in Electronic Arts by 0.9% during the 3rd quarter. Metis Global Partners LLC now owns 11,408 shares of the game software company's stock valued at $1,636,000 after purchasing an additional 97 shares in the last quarter. OneDigital Investment Advisors LLC grew its holdings in Electronic Arts by 28.6% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,403 shares of the game software company's stock worth $775,000 after acquiring an additional 1,200 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in Electronic Arts by 4.7% during the 3rd quarter. CIBC Asset Management Inc now owns 80,004 shares of the game software company's stock valued at $11,476,000 after purchasing an additional 3,600 shares during the period. 90.23% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on EA shares. Robert W. Baird decreased their price objective on Electronic Arts from $175.00 to $158.00 and set an "outperform" rating for the company in a research note on Thursday, January 23rd. Oppenheimer cut their price objective on shares of Electronic Arts from $170.00 to $165.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 21st. Stifel Nicolaus dropped their target price on Electronic Arts from $167.00 to $159.00 and set a "hold" rating on the stock in a research note on Tuesday, January 21st. BNP Paribas cut Electronic Arts from an "outperform" rating to a "neutral" rating and set a $125.00 price target for the company. in a research note on Monday, January 27th. Finally, Moffett Nathanson upgraded Electronic Arts from a "neutral" rating to a "buy" rating and set a $145.00 price target on the stock in a research note on Friday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $154.78.
Check Out Our Latest Stock Analysis on EA
Insider Buying and Selling
In related news, CFO Stuart Canfield sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $130.11, for a total transaction of $130,110.00. Following the transaction, the chief financial officer now owns 9,516 shares of the company's stock, valued at approximately $1,238,126.76. This represents a 9.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $148.00, for a total transaction of $740,000.00. Following the completion of the sale, the chief executive officer now directly owns 47,615 shares of the company's stock, valued at $7,047,020. The trade was a 9.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,000 shares of company stock worth $3,194,240 over the last 90 days. 0.22% of the stock is owned by insiders.
Electronic Arts Trading Up 0.9 %
Shares of NASDAQ:EA traded up $1.28 during mid-day trading on Thursday, reaching $143.25. 2,873,055 shares of the company were exchanged, compared to its average volume of 2,382,440. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.38 and a quick ratio of 1.38. The firm's 50-day simple moving average is $132.71 and its 200 day simple moving average is $144.71. Electronic Arts Inc. has a 1 year low of $115.21 and a 1 year high of $168.50. The firm has a market cap of $37.33 billion, a price-to-earnings ratio of 36.45, a P/E/G ratio of 3.58 and a beta of 0.78.
Electronic Arts (NASDAQ:EA - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The game software company reported $2.34 earnings per share for the quarter, missing analysts' consensus estimates of $3.41 by ($1.07). Electronic Arts had a net margin of 14.28% and a return on equity of 17.80%. Equities research analysts forecast that Electronic Arts Inc. will post 4.71 EPS for the current year.
Electronic Arts Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were issued a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.76 annualized dividend and a yield of 0.53%. Electronic Arts's dividend payout ratio (DPR) is 19.34%.
Electronic Arts Profile
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Free Report)
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.
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