Pacer Advisors Inc. Purchases 3,777 Shares of Electronic Arts Inc. $EA
by Mitch Edgeman · The Markets DailyPacer Advisors Inc. grew its position in Electronic Arts Inc. (NASDAQ:EA – Free Report) by 10.0% during the 4th quarter, HoldingsChannel reports. The fund owned 41,694 shares of the game software company’s stock after purchasing an additional 3,777 shares during the period. Pacer Advisors Inc.’s holdings in Electronic Arts were worth $8,519,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Greenland Capital Management LP bought a new position in Electronic Arts during the 3rd quarter valued at about $5,569,000. Swiss Life Asset Management Ltd lifted its stake in Electronic Arts by 75.8% in the third quarter. Swiss Life Asset Management Ltd now owns 85,245 shares of the game software company’s stock worth $17,194,000 after purchasing an additional 36,769 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Electronic Arts by 9.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 110,851 shares of the game software company’s stock valued at $22,650,000 after buying an additional 9,297 shares during the period. Barometer Capital Management Inc. purchased a new position in shares of Electronic Arts during the third quarter valued at approximately $4,503,000. Finally, Vestcor Inc grew its stake in shares of Electronic Arts by 43.2% during the third quarter. Vestcor Inc now owns 112,668 shares of the game software company’s stock valued at $22,725,000 after buying an additional 33,982 shares during the last quarter. Institutional investors own 90.23% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. Citigroup increased their price target on Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings upgraded Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Argus downgraded Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Finally, Wall Street Zen upgraded Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. Two research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Electronic Arts currently has a consensus rating of “Hold” and an average target price of $196.64.
Check Out Our Latest Research Report on EA
Insider Buying and Selling at Electronic Arts
In other news, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction on Monday, June 15th. The stock was sold at an average price of $203.12, for a total value of $1,015,600.00. Following the transaction, the chief executive officer directly owned 80,974 shares in the company, valued at approximately $16,447,438.88. This trade represents a 5.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vijayanthimala Singh sold 1,200 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $203.00, for a total value of $243,600.00. Following the completion of the transaction, the insider directly owned 26,360 shares of the company’s stock, valued at approximately $5,351,080. The trade was a 4.35% 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. In the last three months, insiders have sold 39,906 shares of company stock worth $8,060,033. 0.24% of the stock is currently owned by company insiders.
Electronic Arts Stock Performance
Shares of EA stock opened at $202.15 on Monday. The firm has a market cap of $50.69 billion, a price-to-earnings ratio of 57.92, a PEG ratio of 2.27 and a beta of 0.65. The company’s 50 day moving average is $202.12 and its 200 day moving average is $202.39. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22. Electronic Arts Inc. has a 52-week low of $146.97 and a 52-week high of $204.88.
Electronic Arts Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, May 27th. Electronic Arts’s dividend payout ratio (DPR) is 21.78%.
Electronic Arts Profile
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.
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