Element Capital Management LLC Takes $2.71 Million Position in Electronic Arts Inc. $EA

Key Points

• Element Capital Management LLC has acquired 18,779 shares of Electronic Arts Inc., valued at approximately $2.7 million, during the first quarter of the year.
• EA stock recently opened at $179.01 with a market cap of $44.79 billion, and it has experienced a 12-month price range between $115.21 and $180.90.
• The company announced a quarterly dividend of $0.19, set to be paid on September 17 and indicating a 0.4% yield with a current payout ratio of 19.05%.

Element Capital Management LLC bought a new stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,779 shares of the game software company's stock, valued at approximately $2,714,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of Electronic Arts by 14.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,401,357 shares of the game software company's stock worth $347,028,000 after buying an additional 306,020 shares during the period. Horizon Investments LLC lifted its holdings in shares of Electronic Arts by 4.1% in the 1st quarter. Horizon Investments LLC now owns 3,423 shares of the game software company's stock worth $495,000 after purchasing an additional 135 shares in the last quarter. Inspire Trust Co. N.A. lifted its holdings in shares of Electronic Arts by 26.7% in the 1st quarter. Inspire Trust Co. N.A. now owns 19,000 shares of the game software company's stock worth $2,746,000 after purchasing an additional 4,000 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its holdings in shares of Electronic Arts by 519.2% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 29,596 shares of the game software company's stock worth $4,277,000 after purchasing an additional 24,816 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. lifted its holdings in shares of Electronic Arts by 97.0% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 3,703 shares of the game software company's stock worth $535,000 after purchasing an additional 1,823 shares in the last quarter. Institutional investors and hedge funds own 90.23% of the company's stock.

Electronic Arts Stock Down 2.4%

NASDAQ EA traded down $4.34 during trading on Friday, reaching $174.67. 3,428,521 shares of the company's stock traded hands, compared to its average volume of 3,456,104. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $43.70 billion, a price-to-earnings ratio of 43.78, a price-to-earnings-growth ratio of 2.25 and a beta of 0.72. The company's 50 day simple moving average is $156.13 and its two-hundred day simple moving average is $146.24. Electronic Arts Inc. has a 12-month low of $115.21 and a 12-month high of $180.90.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th will be given a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. Electronic Arts's payout ratio is presently 19.05%.

Wall Street Analyst Weigh In

EA has been the topic of a number of research reports. Citigroup restated a "neutral" rating and issued a $153.00 price objective (up from $139.00) on shares of Electronic Arts in a research note on Thursday, May 29th. DA Davidson boosted their price objective on Electronic Arts from $150.00 to $160.00 and gave the stock a "neutral" rating in a report on Monday, August 11th. Benchmark boosted their price objective on Electronic Arts from $160.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Wedbush reissued an "outperform" rating and set a $210.00 price objective on shares of Electronic Arts in a report on Tuesday, July 22nd. Finally, Moffett Nathanson reissued a "neutral" rating and set a $163.00 price objective on shares of Electronic Arts in a report on Wednesday, May 7th. Sixteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $167.12.

Insider Transactions at Electronic Arts

In related news, EVP Jacob J. Schatz sold 1,500 shares of Electronic Arts stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $148.69, for a total value of $223,035.00. Following the completion of the sale, the executive vice president directly owned 29,948 shares in the company, valued at $4,452,968.12. This trade represents a 4.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $155.49, for a total transaction of $388,725.00. Following the sale, the insider owned 58,092 shares of the company's stock, valued at approximately $9,032,725.08. The trade was a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,229 shares of company stock worth $4,452,664. 0.24% of the stock is owned by corporate insiders.

Electronic Arts Company Profile

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.