New Century Financial Group LLC Decreases Stake in Electronic Arts Inc. (NASDAQ:EA)

New Century Financial Group LLC cut its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 14.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,994 shares of the game software company’s stock after selling 490 shares during the quarter. New Century Financial Group LLC’s holdings in Electronic Arts were worth $397,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Cape Investment Advisory Inc. lifted its stake in Electronic Arts by 102.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 200 shares of the game software company’s stock valued at $27,000 after acquiring an additional 101 shares during the period. Redmont Wealth Advisors LLC acquired a new position in Electronic Arts during the first quarter valued at $27,000. Leith Wheeler Investment Counsel Ltd. boosted its holdings in Electronic Arts by 269.1% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 212,585 shares of the game software company’s stock valued at $29,000 after purchasing an additional 154,989 shares during the last quarter. Larson Financial Group LLC purchased a new stake in Electronic Arts in the fourth quarter valued at $30,000. Finally, Venturi Wealth Management LLC grew its position in Electronic Arts by 81.0% during the 4th quarter. Venturi Wealth Management LLC now owns 228 shares of the game software company’s stock worth $31,000 after purchasing an additional 102 shares during the period. 90.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Electronic Arts

In related news, insider Vijayanthimala Singh sold 800 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $139.71, for a total value of $111,768.00. Following the sale, the insider now owns 38,574 shares in the company, valued at approximately $5,389,173.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CAO Eric Charles Kelly sold 3,000 shares of Electronic Arts stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $133.75, for a total value of $401,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,458 shares in the company, valued at $997,507.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Vijayanthimala Singh sold 800 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $139.71, for a total value of $111,768.00. Following the transaction, the insider now directly owns 38,574 shares of the company’s stock, valued at $5,389,173.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,039 shares of company stock worth $3,065,356. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

EA has been the subject of several recent research reports. StockNews.com upgraded Electronic Arts from a “hold” rating to a “buy” rating in a research report on Wednesday, June 26th. Stifel Nicolaus raised their price target on shares of Electronic Arts from $150.00 to $163.00 and gave the company a “buy” rating in a research report on Monday, June 24th. UBS Group lowered their price target on Electronic Arts from $146.00 to $143.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 27th. Wedbush restated an “outperform” rating and issued a $162.00 price objective on shares of Electronic Arts in a research report on Wednesday, May 8th. Finally, Robert W. Baird decreased their target price on Electronic Arts from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 8th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $147.50.

Electronic Arts Trading Down 0.2 %

EA opened at $138.67 on Friday. The business’s 50 day moving average price is $133.59 and its 200 day moving average price is $134.88. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market capitalization of $36.85 billion, a PE ratio of 29.63, a P/E/G ratio of 2.21 and a beta of 0.79. Electronic Arts Inc. has a one year low of $117.47 and a one year high of $144.53.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings results on Tuesday, May 7th. The game software company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.17). The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Electronic Arts had a return on equity of 18.81% and a net margin of 16.83%. As a group, equities research analysts expect that Electronic Arts Inc. will post 5.68 EPS for the current year.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 29th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.55%. Electronic Arts’s payout ratio is currently 16.24%.

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.