Burgundy Asset Management Ltd. Has $163.12 Million Stock Position in Electronic Arts Inc. $EA

Key Points

• Burgundy Asset Management Ltd. has reduced its holdings in Electronic Arts Inc. by 13.6%, selling 178,375 shares and leaving them with about 1,128,733 shares.
• Electronic Arts will pay a quarterly dividend of $0.19 on September 17th, representing a 0.4% dividend yield and a payout ratio of 19.05%.
• Several hedge funds, including Goldman Sachs and Invesco, significantly increased their positions in Electronic Arts, contributing to institutional investors owning over 90% of the company's stock.

Burgundy Asset Management Ltd. lessened its stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) by 13.6% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,128,733 shares of the game software company's stock after selling 178,375 shares during the quarter. Electronic Arts comprises about 1.7% of Burgundy Asset Management Ltd.'s portfolio, making the stock its 22nd largest holding. Burgundy Asset Management Ltd. owned approximately 0.43% of Electronic Arts worth $163,124,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of EA. Brighton Jones LLC lifted its stake in shares of Electronic Arts by 9.4% during the 4th quarter. Brighton Jones LLC now owns 3,420 shares of the game software company's stock worth $500,000 after buying an additional 294 shares during the last quarter. Townsquare Capital LLC lifted its stake in shares of Electronic Arts by 35.6% during the 4th quarter. Townsquare Capital LLC now owns 5,278 shares of the game software company's stock worth $772,000 after buying an additional 1,387 shares during the last quarter. Mariner LLC lifted its stake in shares of Electronic Arts by 15.0% during the 4th quarter. Mariner LLC now owns 37,854 shares of the game software company's stock worth $5,538,000 after buying an additional 4,938 shares during the last quarter. XTX Topco Ltd lifted its stake in shares of Electronic Arts by 90.7% during the 4th quarter. XTX Topco Ltd now owns 3,395 shares of the game software company's stock worth $497,000 after buying an additional 1,615 shares during the last quarter. Finally, Jump Financial LLC lifted its stake in shares of Electronic Arts by 164.2% during the 4th quarter. Jump Financial LLC now owns 11,978 shares of the game software company's stock worth $1,752,000 after buying an additional 7,445 shares during the last quarter. Institutional investors and hedge funds own 90.23% of the company's stock.

Wall Street Analysts Forecast Growth

EA has been the subject of a number of research reports. Oppenheimer raised their target price on shares of Electronic Arts from $170.00 to $185.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Arete upgraded shares of Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 price objective for the company in a research note on Tuesday, August 5th. Roth Capital upgraded shares of Electronic Arts from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $175.00 to $185.00 in a research note on Tuesday, June 24th. Bank of America lifted their price objective on shares of Electronic Arts from $166.00 to $168.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Electronic Arts from $135.00 to $160.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $167.12.

Insider Transactions at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $159.53, for a total value of $159,530.00. Following the transaction, the insider directly owned 37,131 shares of the company's stock, valued at $5,923,508.43. This trade represents a 2.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Laura Miele sold 2,500 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $155.49, for a total transaction of $388,725.00. Following the completion of the transaction, the insider directly owned 58,092 shares in the company, valued at approximately $9,032,725.08. This represents a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,200 shares of company stock worth $4,142,660. Corporate insiders own 0.24% of the company's stock.

Electronic Arts Price Performance

EA stock traded up $0.0010 during mid-day trading on Friday, hitting $171.5510. The stock had a trading volume of 723,916 shares, compared to its average volume of 3,484,854. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $180.90. The firm has a market capitalization of $42.92 billion, a P/E ratio of 42.98, a P/E/G ratio of 2.21 and a beta of 0.72. The firm has a fifty day simple moving average of $157.95 and a 200 day simple moving average of $147.23.

Electronic Arts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 27th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, August 27th. Electronic Arts's dividend payout ratio (DPR) is currently 19.05%.

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.