GAMMA Investing LLC Increases Stake in Electronic Arts Inc. (NASDAQ:EA)

GAMMA Investing LLC increased its holdings in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 11,587.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 669,367 shares of the game software company's stock after acquiring an additional 663,640 shares during the quarter. GAMMA Investing LLC owned approximately 0.26% of Electronic Arts worth $96,737,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its position in shares of Electronic Arts by 39.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 17,383 shares of the game software company's stock valued at $2,543,000 after buying an additional 4,884 shares during the last quarter. Brighton Jones LLC lifted its position in shares of Electronic Arts by 9.4% during the fourth quarter. Brighton Jones LLC now owns 3,420 shares of the game software company's stock valued at $500,000 after buying an additional 294 shares during the last quarter. Cibc World Market Inc. lifted its position in shares of Electronic Arts by 10.3% during the fourth quarter. Cibc World Market Inc. now owns 94,741 shares of the game software company's stock valued at $13,861,000 after buying an additional 8,874 shares during the last quarter. Caprock Group LLC lifted its position in shares of Electronic Arts by 15.9% during the fourth quarter. Caprock Group LLC now owns 6,178 shares of the game software company's stock valued at $904,000 after buying an additional 847 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of Electronic Arts by 27.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,268 shares of the game software company's stock valued at $624,000 after buying an additional 917 shares during the last quarter. 90.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Electronic Arts

In related news, CEO Andrew Wilson sold 2,666 shares of Electronic Arts stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $150.93, for a total value of $402,379.38. Following the sale, the chief executive officer now owns 67,393 shares of the company's stock, valued at approximately $10,171,625.49. This trade represents a 3.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $145.00, for a total transaction of $145,000.00. Following the completion of the sale, the insider now directly owns 26,216 shares in the company, valued at $3,801,320. This represents a 3.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,729 shares of company stock valued at $4,107,664 in the last 90 days. 0.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on EA shares. Argus set a $170.00 price target on shares of Electronic Arts in a research report on Friday, May 16th. The Goldman Sachs Group increased their price target on shares of Electronic Arts from $135.00 to $155.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Wedbush increased their price objective on shares of Electronic Arts from $179.00 to $210.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Moffett Nathanson reaffirmed a "neutral" rating and issued a $163.00 price objective on shares of Electronic Arts in a research report on Wednesday, May 7th. Finally, UBS Group increased their price objective on shares of Electronic Arts from $152.00 to $167.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Fifteen equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Electronic Arts currently has an average rating of "Hold" and a consensus price target of $161.88.

Electronic Arts Stock Performance

Shares of NASDAQ EA traded down $0.58 during midday trading on Thursday, reaching $147.88. 2,610,235 shares of the stock were exchanged, compared to its average volume of 2,745,846. The firm has a market cap of $37.08 billion, a price-to-earnings ratio of 37.63, a PEG ratio of 3.58 and a beta of 0.74. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $168.50. The firm has a 50-day simple moving average of $145.84 and a two-hundred day simple moving average of $144.02. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.25.

Electronic Arts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.51%. Electronic Arts's payout ratio is 17.92%.

Electronic Arts 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.