Electronic Arts Inc. (NASDAQ:EA) Position Reduced by Sentry Investment Management LLC

Sentry Investment Management LLC reduced its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 17.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,073 shares of the game software company’s stock after selling 220 shares during the quarter. Sentry Investment Management LLC’s holdings in Electronic Arts were worth $150,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Marco Investment Management LLC boosted its position in shares of Electronic Arts by 5.4% during the 2nd quarter. Marco Investment Management LLC now owns 2,150 shares of the game software company’s stock valued at $300,000 after purchasing an additional 110 shares in the last quarter. AdvisorShares Investments LLC lifted its stake in Electronic Arts by 17.3% during the second quarter. AdvisorShares Investments LLC now owns 5,964 shares of the game software company’s stock valued at $819,000 after purchasing an additional 878 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Electronic Arts by 4.5% during the second quarter. Daiwa Securities Group Inc. now owns 49,031 shares of the game software company’s stock worth $6,831,000 after buying an additional 2,096 shares in the last quarter. Andra AP fonden grew its position in Electronic Arts by 14.7% in the second quarter. Andra AP fonden now owns 197,200 shares of the game software company’s stock worth $27,476,000 after buying an additional 25,300 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its position in Electronic Arts by 0.4% in the second quarter. Royal London Asset Management Ltd. now owns 107,240 shares of the game software company’s stock worth $14,942,000 after buying an additional 452 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Electronic Arts Price Performance

Shares of NASDAQ:EA opened at $144.75 on Friday. The business has a fifty day simple moving average of $146.11 and a 200 day simple moving average of $137.61. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 1 year low of $117.47 and a 1 year high of $153.51. The firm has a market cap of $38.47 billion, a price-to-earnings ratio of 30.93, a P/E/G ratio of 2.16 and a beta of 0.79.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, July 30th. The game software company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. The company had revenue of $1.26 billion during 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, sell-side analysts predict that Electronic Arts Inc. will post 5.88 earnings per share for the current fiscal year.

Electronic Arts Announces Dividend

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

Insider Buying and Selling

In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $139.71, for a total transaction of $111,768.00. Following the transaction, the insider now owns 38,574 shares in the company, valued at $5,389,173.54. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Jacob J. Schatz sold 1,500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 27,860 shares in the company, valued at $4,160,055.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Vijayanthimala Singh sold 800 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $139.71, for a total transaction of $111,768.00. Following the completion of the sale, the insider now owns 38,574 shares in the company, valued at approximately $5,389,173.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,070 shares of company stock worth $3,963,638. Corporate insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

EA has been the subject of several research reports. Citigroup lowered Electronic Arts from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $148.00 to $161.00 in a research note on Monday, July 15th. Robert W. Baird increased their price target on Electronic Arts from $150.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Oppenheimer boosted their price objective on Electronic Arts from $150.00 to $170.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Benchmark raised their target price on shares of Electronic Arts from $153.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Bank of America lifted their target price on shares of Electronic Arts from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $161.28.

Electronic Arts 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.