Manning & Napier Group LLC raised its stake in Electronic Arts Inc. (NASDAQ:EA) by 1.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 642,063 shares of the game software company’s stock after acquiring an additional 11,568 shares during the period. Manning & Napier Group LLC owned 0.23% of Electronic Arts worth $91,332,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of EA. Amundi acquired a new position in Electronic Arts in the second quarter valued at approximately $536,303,000. Macquarie Group Ltd. boosted its stake in Electronic Arts by 9,022.3% in the second quarter. Macquarie Group Ltd. now owns 3,274,731 shares of the game software company’s stock valued at $471,005,000 after acquiring an additional 3,238,833 shares during the period. Atreides Management LP boosted its stake in Electronic Arts by 152.5% in the second quarter. Atreides Management LP now owns 927,311 shares of the game software company’s stock valued at $133,375,000 after acquiring an additional 560,011 shares during the period. Los Angeles Capital Management LLC boosted its stake in Electronic Arts by 132.7% in the second quarter. Los Angeles Capital Management LLC now owns 817,306 shares of the game software company’s stock valued at $117,553,000 after acquiring an additional 466,130 shares during the period. Finally, Natixis boosted its position in shares of Electronic Arts by 310.4% during the second quarter. Natixis now owns 614,342 shares of the game software company’s stock worth $88,361,000 after buying an additional 464,636 shares during the period. Institutional investors own 88.97% of the company’s stock.
Several equities analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on Electronic Arts in a research report on Wednesday, September 15th. They set a “buy” rating and a $165.00 price objective for the company. Zacks Investment Research downgraded Electronic Arts from a “buy” rating to a “hold” rating and set a $144.00 price objective for the company. in a research report on Friday, August 6th. Morgan Stanley boosted their target price on Electronic Arts from $150.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, August 5th. Deutsche Bank Aktiengesellschaft boosted their target price on Electronic Arts from $175.00 to $177.00 and gave the stock a “buy” rating in a report on Thursday, August 5th. Finally, Oppenheimer boosted their target price on Electronic Arts from $165.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, November 4th. Eight research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $166.40.
In other news, insider Vijayanthimala Singh sold 800 shares of the business’s stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $145.34, for a total transaction of $116,272.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Chris Bruzzo sold 2,500 shares of the business’s stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $146.25, for a total transaction of $365,625.00. Following the transaction, the executive vice president now owns 22,158 shares in the company, valued at $3,240,607.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,914 shares of company stock worth $5,083,805. Company insiders own 0.65% of the company’s stock.
NASDAQ EA opened at $126.65 on Friday. The business’s fifty day moving average is $137.03 and its two-hundred day moving average is $140.31. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.32 and a current ratio of 1.32. Electronic Arts Inc. has a 1 year low of $120.60 and a 1 year high of $150.30. The stock has a market capitalization of $35.82 billion, a P/E ratio of 25.23 and a beta of 0.84.
Electronic Arts (NASDAQ:EA) last announced its earnings results on Wednesday, November 3rd. The game software company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.32. Electronic Arts had a net margin of 12.27% and a return on equity of 18.55%. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the business earned ($0.03) EPS. On average, research analysts forecast that Electronic Arts Inc. will post 5.48 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 22nd. Shareholders of record on Wednesday, December 8th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Tuesday, December 7th. Electronic Arts’s dividend payout ratio (DPR) is currently 25.09%.
About Electronic Arts
Electronic Arts, Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Anthem, Need for Speed, and Plants v.
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