Polar Asset Management Partners Inc. Makes New Investment in Electronic Arts Inc. $EA

Key Points

• Polar Asset Management Partners Inc. has acquired 70,200 shares of Electronic Arts Inc. (EA), valued at approximately $10.1 million, according to their latest SEC filing.
• Several hedge funds have increased their holdings in EA, with Ameriprise Financial Inc. raising its position by a dramatic 197.5% during the same quarter.
• EA announced a quarterly dividend of $0.19, reflecting a dividend yield of 0.5%, with the payout scheduled for September 17th.

Polar Asset Management Partners Inc. purchased a new position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 70,200 shares of the game software company's stock, valued at approximately $10,145,000.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Electronic Arts by 0.5% during the first quarter. Vanguard Group Inc. now owns 29,052,085 shares of the game software company's stock worth $4,198,607,000 after purchasing an additional 150,438 shares in the last quarter. Independent Franchise Partners LLP boosted its stake in Electronic Arts by 2.3% during the first quarter. Independent Franchise Partners LLP now owns 3,945,702 shares of the game software company's stock worth $570,233,000 after buying an additional 88,767 shares during the last quarter. Invesco Ltd. boosted its stake in Electronic Arts by 15.6% during the first quarter. Invesco Ltd. now owns 3,733,481 shares of the game software company's stock worth $539,563,000 after buying an additional 504,760 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Electronic Arts by 62.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,253,505 shares of the game software company's stock worth $470,197,000 after buying an additional 1,254,194 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Electronic Arts by 197.5% in the 1st quarter. Ameriprise Financial Inc. now owns 2,916,693 shares of the game software company's stock valued at $421,524,000 after purchasing an additional 1,936,313 shares during the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on EA shares. Wedbush reaffirmed an "outperform" rating and issued a $210.00 price target on shares of Electronic Arts in a research note on Monday, August 25th. Wall Street Zen downgraded Electronic Arts from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Roth Capital upgraded Electronic Arts from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $175.00 to $185.00 in a report on Tuesday, June 24th. Argus set a $170.00 price objective on Electronic Arts in a report on Friday, May 16th. Finally, UBS Group set a $167.00 price objective on Electronic Arts and gave the company a "neutral" rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $167.12.

Electronic Arts Stock Down 0.3%

NASDAQ EA traded down $0.57 during trading hours on Thursday, hitting $169.70. 1,226,051 shares of the company were exchanged, compared to its average volume of 3,401,188. The company has a 50 day moving average of $162.35 and a two-hundred day moving average of $151.15. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. Electronic Arts Inc. has a 52-week low of $115.21 and a 52-week high of $180.90. The firm has a market cap of $42.46 billion, a price-to-earnings ratio of 42.53, a PEG ratio of 2.14 and a beta of 0.75.

Electronic Arts Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $171.05, for a total value of $855,250.00. Following the transaction, the chief executive officer owned 52,393 shares in the company, valued at approximately $8,961,822.65. This represents a 8.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Vijayanthimala Singh sold 1,200 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $172.26, for a total value of $206,712.00. Following the completion of the transaction, the insider owned 35,931 shares in the company, valued at approximately $6,189,474.06. The trade was a 3.23% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,900 shares of company stock worth $4,778,597. Insiders own 0.24% of the company's stock.

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.