Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 51,044 Electronic Arts Inc. $EA

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Electronic Arts Inc. (NASDAQ:EA) in the 2nd quarter, Holdings Channel reports. The fund bought 51,044 shares of the game software company’s stock, valued at approximately $10,466,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Brighton Jones LLC grew its stake in Electronic Arts by 9.4% during the 4th quarter. Brighton Jones LLC now owns 3,420 shares of the game software company’s stock valued at $500,000 after purchasing an additional 294 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Electronic Arts by 167.0% during the 1st quarter. Empowered Funds LLC now owns 19,306 shares of the game software company’s stock valued at $2,790,000 after buying an additional 12,076 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Electronic Arts by 150.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company’s stock valued at $46,000 after buying an additional 190 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Electronic Arts during the second quarter worth approximately $2,323,000. Finally, NewEdge Advisors LLC grew its position in shares of Electronic Arts by 96.4% during the second quarter. NewEdge Advisors LLC now owns 3,067 shares of the game software company’s stock worth $490,000 after buying an additional 1,505 shares in the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EA. Zacks Research cut shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Argus downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Citigroup boosted their target price on shares of Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings upgraded shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Finally, Wall Street Zen raised shares of Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. One analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $206.50.

Electronic Arts Price Performance

Shares of NASDAQ:EA opened at $209.70 on Thursday. The stock has a market capitalization of $52.93 billion, a price-to-earnings ratio of 49.23 and a beta of 0.64. Electronic Arts Inc. has a 1-year low of $159.10 and a 1-year high of $210.20. The company’s fifty day moving average is $207.67 and its two-hundred day moving average is $203.79. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.05 and a current ratio of 1.21.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Monday, August 3rd. The game software company reported $1.58 earnings per share (EPS) for the quarter. Electronic Arts had a net margin of 13.80% and a return on equity of 22.45%. The company had revenue of $1.99 billion for the quarter.

Insider Buying and Selling

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,200 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $203.00, for a total value of $243,600.00. Following the transaction, the insider owned 26,360 shares of the company’s stock, valued at $5,351,080. This trade represents a 4.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $203.10, for a total value of $507,750.00. Following the completion of the transaction, the insider owned 73,513 shares of the company’s stock, valued at approximately $14,930,490.30. The trade was a 3.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 8,700 shares of company stock worth $1,766,950 over the last quarter. 0.24% of the stock is owned by company insiders.

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.