New Century Financial Group LLC Sells 692 Shares of Electronic Arts Inc. (NASDAQ:EA)

New Century Financial Group LLC reduced its position in Electronic Arts Inc. (NASDAQ:EA) by 26.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,903 shares of the game software company’s stock after selling 692 shares during the period. New Century Financial Group LLC’s holdings in Electronic Arts were worth $273,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. North Star Investment Management Corp. increased its position in Electronic Arts by 333.3% during the 1st quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock valued at $26,000 after buying an additional 150 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new position in shares of Electronic Arts during the first quarter valued at about $27,000. Opal Wealth Advisors LLC purchased a new position in shares of Electronic Arts in the 2nd quarter valued at approximately $28,000. Family Firm Inc. acquired a new stake in Electronic Arts in the 2nd quarter worth approximately $33,000. Finally, New Covenant Trust Company N.A. purchased a new stake in Electronic Arts during the 1st quarter worth approximately $35,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Trading Up 0.1 %

EA stock opened at $144.35 on Monday. Electronic Arts Inc. has a 52-week low of $119.92 and a 52-week high of $153.51. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.25. The firm has a market cap of $38.36 billion, a P/E ratio of 30.84, a PEG ratio of 1.95 and a beta of 0.79. The company’s 50-day simple moving average is $145.17 and its 200-day simple moving average is $139.11.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Tuesday, July 30th. The game software company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.21 billion. Electronic Arts had a return on equity of 16.34% and a net margin of 15.77%. As a group, equities analysts forecast that Electronic Arts Inc. will post 5.93 EPS for the current fiscal year.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Wednesday, August 28th. Electronic Arts’s payout ratio is presently 16.24%.

Insiders Place Their Bets

In related news, insider Vijayanthimala Singh sold 7,384 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total value of $1,106,935.44. Following the transaction, the insider now directly owns 31,190 shares of the company’s stock, valued at approximately $4,675,692.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Vijayanthimala Singh sold 7,384 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total value of $1,106,935.44. Following the completion of the transaction, the insider now directly owns 31,190 shares of the company’s stock, valued at approximately $4,675,692.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jacob J. Schatz sold 1,500 shares of Electronic Arts stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $149.32, for a total transaction of $223,980.00. Following the sale, the executive vice president now directly owns 27,860 shares in the company, valued at approximately $4,160,055.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,770 shares of company stock worth $3,643,785. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Jefferies Financial Group started coverage on shares of Electronic Arts in a research note on Thursday, July 11th. They set a “buy” rating and a $165.00 price objective for the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $150.00 price target on shares of Electronic Arts in a research report on Wednesday, September 18th. BMO Capital Markets reissued an “outperform” rating and issued a $154.00 price objective on shares of Electronic Arts in a report on Wednesday, October 16th. Bank of America lifted their target price on Electronic Arts from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, UBS Group increased their price target on shares of Electronic Arts from $143.00 to $155.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Nine equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Electronic Arts presently has an average rating of “Moderate Buy” and an average target price of $161.94.

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.