Cresset Asset Management LLC Has $1.03 Million Position in Electronic Arts Inc. $EA

Cresset Asset Management LLC decreased its holdings in Electronic Arts Inc. (NASDAQ:EA) by 41.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,447 shares of the game software company’s stock after selling 4,575 shares during the quarter. Cresset Asset Management LLC’s holdings in Electronic Arts were worth $1,030,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Ameriprise Financial Inc. raised its stake in Electronic Arts by 197.5% during the first quarter. Ameriprise Financial Inc. now owns 2,916,693 shares of the game software company’s stock worth $421,524,000 after acquiring an additional 1,936,313 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Electronic Arts in the 1st quarter worth about $225,102,000. Acadian Asset Management LLC increased its position in shares of Electronic Arts by 176.6% during the 2nd quarter. Acadian Asset Management LLC now owns 1,862,898 shares of the game software company’s stock worth $297,465,000 after purchasing an additional 1,189,455 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Electronic Arts by 300.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,454,006 shares of the game software company’s stock valued at $210,134,000 after purchasing an additional 1,090,769 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Electronic Arts by 50.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,365,221 shares of the game software company’s stock valued at $377,726,000 after buying an additional 791,978 shares in the last quarter. Institutional investors own 90.23% of the company’s stock.

Electronic Arts Price Performance

EA opened at $203.51 on Thursday. The company has a fifty day moving average price of $201.21 and a two-hundred day moving average price of $175.43. The firm has a market capitalization of $50.90 billion, a PE ratio of 59.51, a P/E/G ratio of 2.44 and a beta of 0.76. Electronic Arts Inc. has a 52 week low of $115.21 and a 52 week high of $204.64. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.84 and a current ratio of 0.84.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, October 28th. The game software company reported $0.65 earnings per share 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 company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the company earned $1.11 EPS. The business’s revenue for the quarter was down 12.6% compared to the same quarter last year. As a group, analysts anticipate that Electronic Arts Inc. will post 4.71 earnings per share for the current year.

Electronic Arts Announces Dividend

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

Insider Buying and Selling

In related news, insider Laura Miele sold 2,500 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $201.06, for a total value of $502,650.00. Following the sale, the insider directly owned 55,648 shares in the company, valued at $11,188,586.88. This trade represents a 4.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Stuart Canfield sold 1,500 shares of Electronic Arts stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $201.65, for a total transaction of $302,475.00. Following the transaction, the chief financial officer directly owned 5,595 shares in the company, valued at $1,128,231.75. The trade was a 21.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 134,869 shares of company stock worth $26,878,477 over the last quarter. Insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EA. TD Cowen cut shares of Electronic Arts from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Cowen downgraded Electronic Arts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 1st. Wedbush reissued a “neutral” rating and issued a $200.00 price objective on shares of Electronic Arts in a research note on Monday, September 29th. Morgan Stanley raised their target price on Electronic Arts from $148.00 to $210.00 and gave the company an “equal weight” rating in a research note on Monday, October 20th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $210.00 price target (up from $170.00) on shares of Electronic Arts in a report on Monday, September 29th. Four research analysts have rated the stock with a Buy rating, twenty-six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $181.21.

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.