Contravisory Investment Management Inc. Buys Shares of 2,962 Electronic Arts Inc. $EA

Contravisory Investment Management Inc. purchased a new position in Electronic Arts Inc. (NASDAQ:EA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,962 shares of the game software company’s stock, valued at approximately $605,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pentwater Capital Management LP purchased a new position in Electronic Arts during the 3rd quarter valued at $968,160,000. Ameriprise Financial Inc. lifted its position in shares of Electronic Arts by 44.6% during the second quarter. Ameriprise Financial Inc. now owns 4,217,029 shares of the game software company’s stock worth $673,393,000 after purchasing an additional 1,300,336 shares during the last quarter. State Street Corp lifted its position in shares of Electronic Arts by 5.8% during the second quarter. State Street Corp now owns 17,072,959 shares of the game software company’s stock worth $2,726,552,000 after purchasing an additional 932,024 shares during the last quarter. Man Group plc boosted its stake in shares of Electronic Arts by 165.5% during the second quarter. Man Group plc now owns 1,279,249 shares of the game software company’s stock valued at $204,296,000 after purchasing an additional 797,461 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of 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 worth $377,726,000 after purchasing an additional 791,978 shares during the last quarter. 90.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on EA shares. UBS Group reaffirmed a “neutral” rating on shares of Electronic Arts in a research note on Wednesday, February 4th. Citigroup dropped their target price on shares of Electronic Arts from $207.00 to $202.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 4th. Three investment analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Electronic Arts currently has an average rating of “Hold” and an average target price of $188.30.

Electronic Arts Stock Up 0.3%

Shares of Electronic Arts stock opened at $201.13 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $50.33 billion, a price-to-earnings ratio of 75.61, a PEG ratio of 2.39 and a beta of 0.75. The firm’s 50-day moving average is $201.48 and its two-hundred day moving average is $198.54. Electronic Arts Inc. has a 1 year low of $131.15 and a 1 year high of $204.88.

Electronic Arts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th were paid a dividend of $0.19 per share. The ex-dividend date was Wednesday, February 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. Electronic Arts’s dividend payout ratio (DPR) is currently 28.57%.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, CFO Stuart Canfield sold 1,500 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $199.90, for a total transaction of $299,850.00. Following the sale, the chief financial officer owned 5,897 shares of the company’s stock, valued at approximately $1,178,810.30. This trade represents a 20.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vijayanthimala Singh sold 1,200 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $199.69, for a total value of $239,628.00. Following the completion of the transaction, the insider directly owned 29,960 shares of the company’s stock, valued at approximately $5,982,712.40. The trade was a 3.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 27,600 shares of company stock valued at $5,553,319. 0.24% of the stock is owned by corporate insiders.

About Electronic Arts

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.