Concentric Capital Strategies LP Makes New Investment in Electronic Arts Inc. $EA

Key Points

• Concentric Capital Strategies LP invested approximately $315,000 in Electronic Arts Inc. (EA), acquiring 2,180 shares in the first quarter.
• Institutional ownership in Electronic Arts is high, with 90.23% of the stock held by institutional investors and hedge funds.
• The company announced a quarterly dividend of $0.19, payable on September 17th, with an annualized dividend yield of 0.5%.

Concentric Capital Strategies LP acquired a new position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,180 shares of the game software company's stock, valued at approximately $315,000.

Other large investors also recently modified their holdings of the company. Financial Management Professionals Inc. boosted its stake in Electronic Arts by 15.0% in the first quarter. Financial Management Professionals Inc. now owns 560 shares of the game software company's stock valued at $81,000 after buying an additional 73 shares in the last quarter. Bank of Jackson Hole Trust increased its holdings in Electronic Arts by 56.4% in the first quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock worth $30,000 after purchasing an additional 75 shares in the last quarter. Whipplewood Advisors LLC boosted its position in shares of Electronic Arts by 34.2% during the first quarter. Whipplewood Advisors LLC now owns 298 shares of the game software company's stock valued at $43,000 after buying an additional 76 shares during the last quarter. Clarius Group LLC boosted its position in shares of Electronic Arts by 3.6% during the first quarter. Clarius Group LLC now owns 2,204 shares of the game software company's stock valued at $319,000 after buying an additional 77 shares during the last quarter. Finally, Conning Inc. boosted its position in shares of Electronic Arts by 4.7% during the first quarter. Conning Inc. now owns 1,749 shares of the game software company's stock valued at $253,000 after buying an additional 78 shares during the last quarter. 90.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Citigroup reissued a "neutral" rating and issued a $153.00 price objective (up previously from $139.00) on shares of Electronic Arts in a research report on Thursday, May 29th. Roth Capital upgraded Electronic Arts from a "neutral" rating to a "buy" rating and increased their target price for the company from $175.00 to $185.00 in a report on Tuesday, June 24th. DA Davidson increased their target price on Electronic Arts from $150.00 to $160.00 and gave the company a "neutral" rating in a report on Monday, August 11th. Argus set a $170.00 price target on Electronic Arts in a research report on Friday, May 16th. Finally, Wall Street Zen lowered Electronic Arts from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and fifteen have given a Hold rating to the company's stock. According to data from MarketBeat, Electronic Arts presently has an average rating of "Moderate Buy" and an average target price of $167.12.

Electronic Arts Trading Up 1.7%

Shares of NASDAQ EA traded up $2.76 during trading hours on Wednesday, reaching $168.80. The stock had a trading volume of 910,871 shares, compared to its average volume of 3,402,596. The business's fifty day moving average price is $162.09 and its two-hundred day moving average price is $151.02. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24. The firm has a market cap of $42.24 billion, a price-to-earnings ratio of 42.31, a P/E/G ratio of 2.17 and a beta of 0.75. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $180.90.

Electronic Arts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 27th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, August 27th. Electronic Arts's dividend payout ratio is presently 19.05%.

Insider Activity at Electronic Arts

In other Electronic Arts news, CFO Stuart Canfield sold 1,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $171.06, for a total transaction of $171,060.00. Following the sale, the chief financial officer directly owned 15,140 shares of the company's stock, valued at approximately $2,589,848.40. This trade represents a 6.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vijayanthimala Singh sold 1,200 shares of the stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $172.26, for a total transaction of $206,712.00. Following the sale, the insider directly owned 35,931 shares in the company, valued at approximately $6,189,474.06. The trade was a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,900 shares of company stock worth $4,778,597 in the last three months. Company insiders own 0.24% of the company's stock.

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.