Empirical Capital Management LLC Buys New Shares in Electronic Arts Inc. (NASDAQ:EA)

Empirical Capital Management LLC bought a new position in Electronic Arts Inc. (NASDAQ:EA - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 16,200 shares of the game software company's stock, valued at approximately $2,324,000. Electronic Arts accounts for about 1.6% of Empirical Capital Management LLC's investment portfolio, making the stock its 17th biggest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Cetera Investment Advisers boosted its position in shares of Electronic Arts by 54.7% in the first quarter. Cetera Investment Advisers now owns 23,967 shares of the game software company's stock worth $3,180,000 after purchasing an additional 8,477 shares during the period. Cetera Advisors LLC lifted its stake in shares of Electronic Arts by 192.5% during the 1st quarter. Cetera Advisors LLC now owns 7,550 shares of the game software company's stock valued at $1,002,000 after buying an additional 4,969 shares in the last quarter. CWM LLC boosted its holdings in Electronic Arts by 16.0% in the 2nd quarter. CWM LLC now owns 6,207 shares of the game software company's stock worth $865,000 after buying an additional 855 shares during the period. Simplicity Wealth LLC increased its stake in Electronic Arts by 5.8% in the 2nd quarter. Simplicity Wealth LLC now owns 13,918 shares of the game software company's stock worth $1,939,000 after buying an additional 762 shares in the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in Electronic Arts during the second quarter valued at about $28,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $158.03, for a total value of $395,075.00. Following the transaction, the insider now owns 50,433 shares of the company's stock, valued at $7,969,926.99. The trade was a 4.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $143.24, for a total transaction of $143,240.00. Following the sale, the insider now directly owns 29,190 shares of the company's stock, valued at $4,181,175.60. The trade was a 3.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,000 shares of company stock worth $3,086,270. Corporate insiders own 0.22% of the company's stock.

Analyst Ratings Changes

EA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Electronic Arts from $155.00 to $150.00 and set a "neutral" rating for the company in a report on Wednesday, October 30th. StockNews.com upgraded shares of Electronic Arts from a "buy" rating to a "strong-buy" rating in a report on Thursday, October 31st. UBS Group boosted their price target on shares of Electronic Arts from $155.00 to $160.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Robert W. Baird raised their price objective on Electronic Arts from $170.00 to $175.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $150.00 target price on shares of Electronic Arts in a research report on Wednesday, September 18th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Electronic Arts presently has an average rating of "Moderate Buy" and an average price target of $165.37.

Electronic Arts Trading Up 0.8 %

EA traded up $1.39 during trading on Friday, hitting $167.01. 1,651,787 shares of the stock were exchanged, compared to its average volume of 1,744,879. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a 50 day simple moving average of $153.97 and a 200 day simple moving average of $146.36. The firm has a market cap of $43.80 billion, a price-to-earnings ratio of 42.93, a P/E/G ratio of 2.19 and a beta of 0.79. Electronic Arts Inc. has a 1 year low of $124.92 and a 1 year high of $168.50.

Electronic Arts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be given a $0.19 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.46%. Electronic Arts's payout ratio is presently 19.54%.

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.