OLD National Bancorp IN Invests $203,000 in Electronic Arts Inc. $EA

Key Points

• OLD National Bancorp IN has invested $203,000 in Electronic Arts Inc. by acquiring 1,274 shares, according to a recent SEC filing.
• Major institutional investors have been actively adjusting their positions in EA, with 90.23% of the stock owned by hedge funds and institutional shareholders.
• Insiders have sold over 41,000 shares of Electronic Arts stock in the last quarter, while several analysts have downgraded their ratings, highlighting a mixed outlook for the company.

OLD National Bancorp IN purchased a new stake in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,274 shares of the game software company's stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EA. MassMutual Private Wealth & Trust FSB raised its stake in shares of Electronic Arts by 3.7% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 2,023 shares of the game software company's stock valued at $323,000 after buying an additional 72 shares during the last quarter. Bank of Jackson Hole Trust increased its stake in shares of Electronic Arts by 56.4% in the 1st quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company's stock valued at $30,000 after purchasing an additional 75 shares in the last quarter. Financial Management Professionals Inc. increased its stake in shares of Electronic Arts by 13.6% in the 2nd quarter. Financial Management Professionals Inc. now owns 636 shares of the game software company's stock valued at $102,000 after purchasing an additional 76 shares in the last quarter. Clarius Group LLC increased its stake in shares of Electronic Arts by 3.6% in the 1st quarter. Clarius Group LLC now owns 2,204 shares of the game software company's stock valued at $319,000 after purchasing an additional 77 shares in the last quarter. Finally, Conning Inc. increased its stake in shares of Electronic Arts by 4.7% in the 1st quarter. Conning Inc. now owns 1,749 shares of the game software company's stock valued at $253,000 after purchasing an additional 78 shares in the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Laura Miele sold 2,500 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $155.49, for a total transaction of $388,725.00. Following the transaction, the insider directly owned 58,092 shares in the company, valued at $9,032,725.08. The trade was a 4.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jacob J. Schatz sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $148.32, for a total value of $222,480.00. Following the transaction, the executive vice president owned 28,448 shares in the company, valued at approximately $4,219,407.36. This represents a 5.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,000 shares of company stock valued at $7,247,635. 0.24% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on EA shares. Roth Capital lowered Electronic Arts from a "buy" rating to a "neutral" rating and lifted their price target for the company from $185.00 to $210.00 in a research note on Thursday, October 2nd. TD Cowen lowered Electronic Arts from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 1st. Argus lifted their price target on Electronic Arts from $180.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, September 30th. DA Davidson lifted their price target on Electronic Arts from $150.00 to $160.00 and gave the company a "neutral" rating in a research note on Monday, August 11th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Electronic Arts in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twenty-five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $177.00.

Electronic Arts Trading Down 0.0%

Shares of Electronic Arts stock opened at $200.01 on Thursday. The stock has a market cap of $50.04 billion, a P/E ratio of 50.13, a P/E/G ratio of 3.04 and a beta of 0.77. The stock's 50 day simple moving average is $175.34 and its 200-day simple moving average is $157.75. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $203.75. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84.

Electronic Arts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 27th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Wednesday, August 27th. Electronic Arts's payout ratio is currently 19.05%.

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.

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