LMR Partners LLP Reduces Holdings in Electronic Arts Inc. (NASDAQ:EA)

by · The Markets Daily

LMR Partners LLP reduced its stake in Electronic Arts Inc. (NASDAQ:EA – Free Report) by 68.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,069 shares of the game software company’s stock after selling 17,885 shares during the period. LMR Partners LLP’s holdings in Electronic Arts were worth $1,157,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EA. Huntington National Bank boosted its holdings in shares of Electronic Arts by 983.4% during the third quarter. Huntington National Bank now owns 257,902 shares of the game software company’s stock worth $36,993,000 after purchasing an additional 234,098 shares during the period. Park Avenue Securities LLC lifted its holdings in Electronic Arts by 34.9% in the 2nd quarter. Park Avenue Securities LLC now owns 14,227 shares of the game software company’s stock worth $1,982,000 after buying an additional 3,681 shares during the period. Greenwood Capital Associates LLC bought a new stake in shares of Electronic Arts in the 3rd quarter worth approximately $5,597,000. Bessemer Group Inc. increased its stake in shares of Electronic Arts by 97.5% during the first quarter. Bessemer Group Inc. now owns 19,751 shares of the game software company’s stock valued at $2,620,000 after buying an additional 9,753 shares during the period. Finally, Chesapeake Capital Corp IL purchased a new position in shares of Electronic Arts during the third quarter valued at approximately $950,000. Institutional investors own 90.23% of the company’s stock.

Electronic Arts Stock Performance

Shares of EA opened at $166.13 on Wednesday. Electronic Arts Inc. has a 12 month low of $124.92 and a 12 month high of $166.40. The business’s fifty day simple moving average is $148.01 and its two-hundred day simple moving average is $143.16. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. The company has a market cap of $43.57 billion, a price-to-earnings ratio of 42.71, a P/E/G ratio of 2.11 and a beta of 0.78.

Electronic Arts Announces Dividend

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

Insiders Place Their Bets

In other Electronic Arts news, insider Vijayanthimala Singh sold 7,384 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total transaction of $1,106,935.44. Following the completion of the sale, the insider now directly owns 31,190 shares in the company, valued at $4,675,692.90. The trade was a 19.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $141.50, for a total transaction of $353,750.00. Following the completion of the transaction, the chief executive officer now owns 54,247 shares in the company, valued at $7,675,950.50. This trade represents a 4.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,384 shares of company stock valued at $3,944,285. 0.22% of the stock is owned by insiders.

Wall Street Analyst Weigh In

EA has been the subject of a number of research analyst reports. Roth Mkm lifted their price target on shares of Electronic Arts from $154.00 to $158.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Morgan Stanley reaffirmed an “equal weight” rating and set a $150.00 target price on shares of Electronic Arts in a research note on Wednesday, September 18th. StockNews.com upgraded shares of Electronic Arts from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. UBS Group raised their price objective on shares of Electronic Arts from $155.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. decreased their target price on Electronic Arts from $155.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Electronic Arts currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.37.

Read Our Latest Stock Report on Electronic Arts

Electronic Arts Company Profile

(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.

See Also

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