Electronic Arts Inc. $EA Shares Sold by Sterling Capital Management LLC

Key Points

• Sterling Capital Management LLC cut its Electronic Arts stake by 43.2% in the first quarter, selling 6,447 shares and leaving it with 8,477 shares valued at about $1.73 million.
• Wall Street sentiment remains cautious: analysts’ consensus rating is “Hold,” with 2 Buy ratings, 17 Hold ratings, and 1 Sell rating; the average target price is $196.64.
• EA’s stock was little changed, opening at $205.05, near its 52-week high of $205.69, while the company also paid a quarterly dividend of $0.19 per share, or $0.76 annualized.

Sterling Capital Management LLC trimmed its position in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 43.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,477 shares of the game software company's stock after selling 6,447 shares during the quarter. Sterling Capital Management LLC's holdings in Electronic Arts were worth $1,728,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Ameriflex Group Inc. raised its stake in Electronic Arts by 100.0% in the third quarter. Ameriflex Group Inc. now owns 138 shares of the game software company's stock valued at $28,000 after buying an additional 69 shares in the last quarter. MV Capital Management Inc. acquired a new position in shares of Electronic Arts during the 4th quarter worth about $28,000. Fideuram Asset Management Ireland dac acquired a new stake in shares of Electronic Arts during the 4th quarter worth about $44,000. Geneos Wealth Management Inc. raised its position in shares of Electronic Arts by 150.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company's stock worth $46,000 after acquiring an additional 190 shares in the last quarter. Finally, Salomon & Ludwin LLC lifted its stake in Electronic Arts by 32.8% during the fourth quarter. Salomon & Ludwin LLC now owns 231 shares of the game software company's stock worth $47,000 after purchasing an additional 57 shares during the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EA has been the topic of several recent analyst reports. Citigroup increased their price target on shares of Electronic Arts from $202.00 to $204.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Argus downgraded shares of Electronic Arts from a "buy" rating to a "hold" rating in a research report on Thursday, May 28th. Wall Street Zen upgraded shares of Electronic Arts to a "hold" rating in a research note on Saturday, June 6th. Finally, Weiss Ratings raised shares of Electronic Arts from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, May 18th. Two investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $196.64.

Electronic Arts Trading Down 0.1%

Shares of Electronic Arts stock opened at $205.05 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $51.42 billion, a P/E ratio of 58.75, a PEG ratio of 2.31 and a beta of 0.65. Electronic Arts Inc. has a 1 year low of $146.97 and a 1 year high of $205.69. The company's fifty day moving average is $202.30 and its two-hundred day moving average is $202.42.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts's dividend payout ratio is currently 21.78%.

Insider Activity at Electronic Arts

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $203.10, for a total value of $507,750.00. Following the transaction, the insider directly owned 73,513 shares in the company, valued at approximately $14,930,490.30. This trade represents a 3.29% decrease in their position. The sale was disclosed in a document filed 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 that occurred on Monday, June 15th. The shares were 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 in the company, valued at approximately $5,351,080. The trade was a 4.35% decrease in their position. 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 sold 39,906 shares of company stock worth $8,060,033 in the last ninety days. Company insiders own 0.24% of the company's stock.

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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