307,831 Shares in Electronic Arts Inc. $EA Acquired by Kodai Capital Management LP

Key Points

• Kodai Capital Management LP acquired 307,831 shares of Electronic Arts Inc. valued at approximately $44.5 million, making it the company's 12th largest holding, which now represents 1.7% of Kodai’s portfolio.
• The company is set to pay a quarterly dividend of $0.19 on September 17th, with an annualized yield of 0.4% and a dividend payout ratio of 19.05%.
• Multiple hedge funds have increased their stakes in Electronic Arts, indicating a growing interest among institutional investors, who now own approximately 90.23% of the company's stock.

Kodai Capital Management LP acquired a new position in Electronic Arts Inc. (NASDAQ:EA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 307,831 shares of the game software company's stock, valued at approximately $44,488,000. Electronic Arts comprises 1.7% of Kodai Capital Management LP's investment portfolio, making the stock its 12th biggest holding. Kodai Capital Management LP owned about 0.12% of Electronic Arts as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its stake in shares of Electronic Arts by 4.4% in the first quarter. The Manufacturers Life Insurance Company now owns 162,571 shares of the game software company's stock worth $23,495,000 after purchasing an additional 6,835 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Electronic Arts by 15.8% during the first quarter. Canada Pension Plan Investment Board now owns 625,630 shares of the game software company's stock worth $90,416,000 after acquiring an additional 85,135 shares during the period. WPG Advisers LLC acquired a new stake in Electronic Arts during the first quarter worth about $41,000. State of Wyoming grew its holdings in Electronic Arts by 15.6% during the first quarter. State of Wyoming now owns 1,504 shares of the game software company's stock worth $217,000 after acquiring an additional 203 shares during the period. Finally, Ieq Capital LLC grew its holdings in Electronic Arts by 266.5% during the first quarter. Ieq Capital LLC now owns 7,912 shares of the game software company's stock worth $1,143,000 after acquiring an additional 5,753 shares during the period. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Electronic Arts

In other news, insider Vijayanthimala Singh sold 1,200 shares of Electronic Arts stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $172.26, for a total value of $206,712.00. Following the sale, the insider directly owned 35,931 shares of the company's stock, valued at $6,189,474.06. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jacob J. Schatz sold 1,200 shares of Electronic Arts stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $174.65, for a total value of $209,580.00. Following the completion of the sale, the executive vice president directly owned 27,248 shares in the company, valued at $4,758,863.20. This represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,900 shares of company stock valued at $4,778,597. Insiders own 0.24% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on EA shares. Robert W. Baird raised their target price on Electronic Arts from $168.00 to $170.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. DA Davidson raised their target price on Electronic Arts from $150.00 to $160.00 and gave the stock a "neutral" rating in a report on Monday, August 11th. UBS Group set a $167.00 target price on Electronic Arts and gave the stock a "neutral" rating in a report on Friday, August 1st. Arete raised Electronic Arts from a "neutral" rating to a "buy" rating and set a $192.00 target price on the stock in a report on Tuesday, August 5th. Finally, Citigroup reissued a "neutral" rating and issued a $153.00 price objective (up from $139.00) on shares of Electronic Arts in a report on Thursday, May 29th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat.com, Electronic Arts presently has an average rating of "Moderate Buy" and a consensus target price of $167.12.

Electronic Arts Price Performance

EA traded down $2.97 during trading on Wednesday, hitting $168.49. The company's stock had a trading volume of 1,009,774 shares, compared to its average volume of 3,432,534. 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 business's fifty day simple moving average is $161.16 and its 200 day simple moving average is $149.69. The firm has a market capitalization of $42.16 billion, a price-to-earnings ratio of 42.16, a P/E/G ratio of 2.22 and a beta of 0.75. Electronic Arts Inc. has a twelve month low of $115.21 and a twelve month high of $180.90.

Electronic Arts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th will be paid 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 0.5%. Electronic Arts's payout ratio is currently 19.05%.

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.