AGF Management Ltd. Buys Shares of 20,640 Electronic Arts Inc. $EA

AGF Management Ltd. bought a new stake in Electronic Arts Inc. (NASDAQ:EA) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 20,640 shares of the game software company’s stock, valued at approximately $3,296,000.

Several other large investors have also made changes to their positions in the company. Salomon & Ludwin LLC raised its position in Electronic Arts by 70.1% during the second quarter. Salomon & Ludwin LLC now owns 165 shares of the game software company’s stock valued at $26,000 after purchasing an additional 68 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Electronic Arts by 3.7% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 2,023 shares of the game software company’s stock worth $323,000 after buying an additional 72 shares in the last quarter. Bank of Jackson Hole Trust raised its holdings in shares of Electronic Arts by 56.4% during the 1st quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company’s stock worth $30,000 after buying an additional 75 shares in the last quarter. Financial Management Professionals Inc. boosted its stake in Electronic Arts by 13.6% in the second quarter. Financial Management Professionals Inc. now owns 636 shares of the game software company’s stock valued at $102,000 after buying an additional 76 shares in the last quarter. Finally, NewSquare Capital LLC grew its position in Electronic Arts by 67.5% in the second quarter. NewSquare Capital LLC now owns 196 shares of the game software company’s stock valued at $31,000 after acquiring an additional 79 shares during the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

Analyst Ratings Changes

EA has been the topic of several recent research reports. HSBC downgraded Electronic Arts from a “buy” rating to a “hold” rating and set a $191.00 price objective on the stock. in a report on Monday, September 29th. BMO Capital Markets upped their price objective on Electronic Arts from $166.00 to $210.00 and gave the company a “market perform” rating in a research note on Tuesday, September 30th. Arete upgraded shares of Electronic Arts from a “neutral” rating to a “buy” rating and set a $192.00 target price on the stock in a research report on Tuesday, August 5th. Roth Capital cut shares of Electronic Arts from a “buy” rating to a “neutral” rating and upped their price target for the company from $185.00 to $210.00 in a research report on Thursday, October 2nd. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $210.00 price target (up previously from $170.00) on shares of Electronic Arts in a research note on Monday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $181.64.

Insider Buying and Selling

In other news, insider Laura Miele sold 2,500 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $201.79, for a total value of $504,475.00. Following the sale, the insider directly owned 53,092 shares of the company’s stock, valued at approximately $10,713,434.68. This represents a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Vijayanthimala Singh sold 1,200 shares of the firm’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $200.31, for a total value of $240,372.00. Following the transaction, the insider owned 32,331 shares of the company’s stock, valued at $6,476,222.61. The trade was a 3.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 39,400 shares of company stock worth $7,359,462 over the last three months. Corporate insiders own 0.24% of the company’s stock.

Electronic Arts Stock Performance

Shares of EA stock opened at $200.60 on Monday. The company’s fifty day moving average price is $189.02 and its 200-day moving average price is $167.12. The stock has a market cap of $50.03 billion, a PE ratio of 58.65, a price-to-earnings-growth ratio of 3.04 and a beta of 0.74. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 12 month low of $115.21 and a 12 month high of $203.75.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Tuesday, October 28th. The game software company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.07). Electronic Arts had a net margin of 12.14% and a return on equity of 15.30%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period last year, the business earned $1.11 earnings per share. The company’s revenue was down 12.6% on a year-over-year basis. On average, equities analysts expect that Electronic Arts Inc. will post 4.71 EPS for the current fiscal year.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Wednesday, December 3rd will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, December 3rd. Electronic Arts’s payout ratio is currently 22.22%.

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.