Assetmark Inc. Lowers Stock Position in Electronic Arts Inc. $EA

Key Points

• Assetmark Inc. cut its stake in Electronic Arts (NASDAQ: EA) by 61.9% in Q4, selling 24,137 shares and retaining 14,844 shares valued at $3.033 million.
• Other institutional moves were large—Pentwater Capital opened a new stake worth about $968.2 million, Ameriprise added 1.3 million shares to hold ~4.22 million shares (~$673.4M), and First Trust owns ~3.07 million shares—leaving institutional ownership near 90.23%.
• Wall Street consensus is a "Hold" rating (three Buys, nineteen Holds, one Sell) with a consensus price target of $188.30.

Assetmark Inc. reduced its position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 61.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,844 shares of the game software company's stock after selling 24,137 shares during the period. Assetmark Inc.'s holdings in Electronic Arts were worth $3,033,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pentwater Capital Management LP purchased a new stake in Electronic Arts in the 3rd quarter valued at about $968,160,000. Ameriprise Financial Inc. lifted its holdings in 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 acquiring an additional 1,300,336 shares during the period. Man Group plc boosted its position in Electronic Arts by 165.5% in the second quarter. Man Group plc now owns 1,279,249 shares of the game software company's stock worth $204,296,000 after purchasing an additional 797,461 shares during the last quarter. Quinn Opportunity Partners LLC purchased a new position in Electronic Arts in the third quarter worth $156,760,000. Finally, First Trust Advisors LP grew its stake in Electronic Arts by 26.3% in the 3rd quarter. First Trust Advisors LP now owns 3,069,543 shares of the game software company's stock valued at $619,127,000 after purchasing an additional 638,667 shares during the period. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. UBS Group reaffirmed a "neutral" rating on shares of Electronic Arts in a research report on Wednesday, February 4th. Citigroup cut their price target on shares of Electronic Arts from $207.00 to $202.00 and set a "neutral" rating on the stock in a report on Wednesday, February 4th. Three analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $188.30.

Insider Buying and Selling at Electronic Arts

In related news, insider Laura Miele sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $199.53, for a total value of $498,825.00. Following the completion of the transaction, the insider directly owned 48,343 shares of the company's stock, valued at approximately $9,645,878.79. This trade represents a 4.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vijayanthimala Singh sold 1,200 shares of Electronic Arts stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $203.25, for a total transaction of $243,900.00. Following the completion of the transaction, the insider owned 28,760 shares of the company's stock, valued at $5,845,470. This represents a 4.01% 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 27,600 shares of company stock worth $5,544,159 over the last three months. Company insiders own 0.24% of the company's stock.

Electronic Arts Stock Performance

NASDAQ:EA opened at $203.83 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.93 and a quick ratio of 0.93. The business has a fifty day simple moving average of $201.48 and a two-hundred day simple moving average of $202.04. Electronic Arts Inc. has a 1 year low of $141.04 and a 1 year high of $204.88. The company has a market capitalization of $51.01 billion, a P/E ratio of 76.63, a P/E/G ratio of 2.19 and a beta of 0.73.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th were paid a $0.19 dividend. The ex-dividend date was Wednesday, February 25th. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. Electronic Arts's dividend payout ratio (DPR) is presently 28.57%.

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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