Connor Clark & Lunn Investment Management Ltd. Trims Holdings in Electronic Arts Inc. (NASDAQ:EA)

Connor Clark & Lunn Investment Management Ltd. decreased its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 14.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,687 shares of the game software company’s stock after selling 277 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Electronic Arts were worth $242,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in EA. Ashton Thomas Securities LLC purchased a new stake in shares of Electronic Arts in the third quarter worth $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Electronic Arts in the 2nd quarter valued at about $28,000. Family Firm Inc. bought a new stake in shares of Electronic Arts during the 2nd quarter valued at about $33,000. Reston Wealth Management LLC purchased a new position in shares of Electronic Arts during the third quarter worth about $36,000. Finally, Gradient Investments LLC increased its position in shares of Electronic Arts by 592.1% in the second quarter. Gradient Investments LLC now owns 263 shares of the game software company’s stock worth $37,000 after purchasing an additional 225 shares during the last quarter. Institutional investors own 90.23% of the company’s stock.

Electronic Arts Stock Performance

Shares of NASDAQ:EA opened at $163.67 on Monday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $151.54 and a 200-day moving average price of $145.14. The company has a market cap of $42.93 billion, a price-to-earnings ratio of 42.07, a price-to-earnings-growth ratio of 2.14 and a beta of 0.78. Electronic Arts Inc. has a 12 month low of $124.92 and a 12 month high of $168.50.

Electronic Arts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.46%. The ex-dividend date is Wednesday, November 27th. Electronic Arts’s dividend payout ratio (DPR) is currently 19.54%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on EA shares. Robert W. Baird boosted their price target on shares of Electronic Arts from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. cut their target price on shares of Electronic Arts from $155.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. UBS Group raised their price target on Electronic Arts from $155.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. BNP Paribas upgraded Electronic Arts to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $150.00 price objective on shares of Electronic Arts in a report on Wednesday, September 18th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Electronic Arts has a consensus rating of “Moderate Buy” and a consensus price target of $165.37.

Insider Transactions at Electronic Arts

In related news, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $151.70, for a total value of $151,700.00. Following the completion of the transaction, the insider now directly owns 30,190 shares of the company’s stock, valued at $4,579,823. This represents a 3.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Wilson sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $166.47, for a total transaction of $832,350.00. Following the completion of the sale, the chief executive officer now owns 52,615 shares of the company’s stock, valued at $8,758,819.05. This trade represents a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,000 shares of company stock worth $3,073,520. 0.22% of the stock is currently owned by insiders.

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.