Electronic Arts Inc. $EA Shares Bought by Cim Investment Management Inc.

Cim Investment Management Inc. raised its stake in Electronic Arts Inc. (NASDAQ:EA) by 99.7% during the second quarter, Holdings Channel.com reports. The firm owned 5,128 shares of the game software company’s stock after purchasing an additional 2,560 shares during the quarter. Cim Investment Management Inc.’s holdings in Electronic Arts were worth $785,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Electronic Arts by 5.8% during the second quarter. State Street Corp now owns 17,072,959 shares of the game software company’s stock worth $2,726,552,000 after purchasing an additional 932,024 shares during the last quarter. Ninety One UK Ltd raised its holdings in shares of Electronic Arts by 4.6% in the second quarter. Ninety One UK Ltd now owns 4,355,950 shares of the game software company’s stock valued at $695,645,000 after buying an additional 193,442 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Electronic Arts by 44.6% during the second quarter. Ameriprise Financial Inc. now owns 4,217,029 shares of the game software company’s stock worth $673,393,000 after buying an additional 1,300,336 shares during the period. Invesco Ltd. raised its stake in Electronic Arts by 10.1% during the 2nd quarter. Invesco Ltd. now owns 4,112,305 shares of the game software company’s stock valued at $656,735,000 after acquiring an additional 378,824 shares during the last quarter. Finally, Independent Franchise Partners LLP lifted its position in Electronic Arts by 2.3% during the 1st quarter. Independent Franchise Partners LLP now owns 3,945,702 shares of the game software company’s stock worth $570,233,000 after acquiring an additional 88,767 shares during the period. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Electronic Arts Stock Performance

NASDAQ EA opened at $203.73 on Friday. The business has a 50 day moving average price of $201.32 and a 200 day moving average price of $176.22. The company has a market capitalization of $50.95 billion, a P/E ratio of 59.57, a PEG ratio of 2.44 and a beta of 0.76. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $204.64. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.84 and a quick ratio of 0.84.

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

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Wednesday, December 3rd will be issued a dividend of $0.19 per share. 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%.

Wall Street Analysts Forecast Growth

EA has been the subject of several analyst reports. Oppenheimer cut Electronic Arts from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 30th. TD Cowen lowered Electronic Arts from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. BMO Capital Markets increased their target price on Electronic Arts from $166.00 to $210.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 30th. Roth Capital cut Electronic Arts from a “buy” rating to a “neutral” rating and raised their price target for the company from $185.00 to $210.00 in a report on Thursday, October 2nd. Finally, UBS Group set a $210.00 price objective on Electronic Arts and gave the stock a “neutral” rating in a report on Tuesday, September 30th. Four equities research analysts have rated the stock with a Buy rating, twenty-six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $181.21.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $201.79, for a total value of $504,475.00. Following the sale, the insider owned 53,092 shares of the company’s stock, valued at $10,713,434.68. This represents a 4.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stuart Canfield sold 6,500 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $203.40, for a total transaction of $1,322,100.00. Following the completion of the sale, the chief financial officer owned 5,140 shares in the company, valued at $1,045,476. This represents a 55.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 134,869 shares of company stock valued at $26,878,477. Insiders own 0.24% of the company’s stock.

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.