P Schoenfeld Asset Management LP Has $5.76 Million Holdings in Electronic Arts Inc. $EA

Key Points

• P Schoenfeld Asset Management LP reduced its Electronic Arts stake by 32.9% in the fourth quarter, selling 13,800 shares and leaving it with 28,200 shares valued at about $5.76 million.
• Other institutional investors were active in EA as well, with several funds increasing positions; notably, 90.23% of the stock is owned by institutional investors and hedge funds.
• Electronic Arts insiders also sold shares recently, while analysts remain cautious overall: EA has a Hold consensus rating and a consensus price target of $196.64, below the stock’s recent trading level around $203.

P Schoenfeld Asset Management LP cut its stake in Electronic Arts Inc. (NASDAQ:EA - Free Report) by 32.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,200 shares of the game software company's stock after selling 13,800 shares during the period. Electronic Arts comprises approximately 2.0% of P Schoenfeld Asset Management LP's holdings, making the stock its 14th largest holding. P Schoenfeld Asset Management LP's holdings in Electronic Arts were worth $5,762,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Focus Partners Wealth raised its holdings in shares of Electronic Arts by 183.0% in the 4th quarter. Focus Partners Wealth now owns 33,432 shares of the game software company's stock worth $6,831,000 after buying an additional 21,618 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Electronic Arts by 27.8% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 167,966 shares of the game software company's stock worth $34,320,000 after buying an additional 36,489 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new position in shares of Electronic Arts in the 4th quarter worth approximately $954,000. Aptus Capital Advisors LLC raised its holdings in shares of Electronic Arts by 15.1% in the 4th quarter. Aptus Capital Advisors LLC now owns 5,423 shares of the game software company's stock worth $1,108,000 after buying an additional 711 shares in the last quarter. Finally, Westchester Capital Management LLC raised its holdings in shares of Electronic Arts by 360.0% in the 4th quarter. Westchester Capital Management LLC now owns 594,161 shares of the game software company's stock worth $121,405,000 after buying an additional 464,995 shares in the last quarter. 90.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Electronic Arts

In other news, insider Laura Miele sold 2,500 shares of the firm's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $203.21, for a total value of $508,025.00. Following the transaction, the insider directly owned 43,343 shares in the company, valued at $8,807,731.03. This trade represents a 5.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jacob J. Schatz sold 5,000 shares of the firm's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $201.19, for a total value of $1,005,950.00. Following the completion of the transaction, the executive vice president owned 42,287 shares in the company, valued at $8,507,721.53. This represents a 10.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 31,206 shares of company stock worth $6,293,083. Corporate insiders own 0.24% of the company's stock.

Electronic Arts Price Performance

Shares of EA opened at $203.27 on Monday. The firm has a market capitalization of $50.97 billion, a price-to-earnings ratio of 58.24, a PEG ratio of 2.29 and a beta of 0.65. 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 business's fifty day moving average price is $202.23 and its two-hundred day moving average price is $202.37. Electronic Arts Inc. has a 52 week low of $146.97 and a 52 week high of $204.88.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Wednesday, May 27th. Electronic Arts's dividend payout ratio (DPR) is presently 21.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on EA shares. Wall Street Zen raised Electronic Arts to a "hold" rating in a report on Saturday, June 6th. Citigroup raised their price target on Electronic Arts from $202.00 to $204.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Argus cut Electronic Arts from a "buy" rating to a "hold" rating in a report on Thursday, May 28th. Finally, Weiss Ratings raised Electronic Arts from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 18th. Two equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Electronic Arts currently has an average rating of "Hold" and a consensus target price of $196.64.

Electronic Arts Company 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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