Core Alternative Capital Makes New Investment in Electronic Arts Inc. (NASDAQ:EA)

Core Alternative Capital purchased a new position in Electronic Arts Inc. (NASDAQ:EA – Get Rating) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 686 shares of the game software company’s stock, valued at approximately $90,000.

Other institutional investors have also added to or reduced their stakes in the company. Equitec Proprietary Markets LLC bought a new stake in Electronic Arts in the fourth quarter worth about $25,000. Industrial Alliance Investment Management Inc. bought a new stake in Electronic Arts in the fourth quarter worth about $28,000. Old North State Trust LLC raised its position in Electronic Arts by 59.2% in the fourth quarter. Old North State Trust LLC now owns 242 shares of the game software company’s stock worth $32,000 after acquiring an additional 90 shares during the period. Amplius Wealth Advisors LLC bought a new stake in Electronic Arts in the fourth quarter worth about $34,000. Finally, North Star Investment Management Corp. raised its position in Electronic Arts by 111.1% in the fourth quarter. North Star Investment Management Corp. now owns 285 shares of the game software company’s stock worth $38,000 after acquiring an additional 150 shares during the period. 89.28% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CEO Andrew Wilson sold 10,000 shares of the firm’s stock in a transaction on Monday, February 28th. The stock was sold at an average price of $130.16, for a total value of $1,301,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Vijayanthimala Singh sold 800 shares of the firm’s stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $130.55, for a total value of $104,440.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,700 shares of company stock valued at $5,514,109. 0.65% of the stock is currently owned by insiders.

Several research firms have recently weighed in on EA. MKM Partners reduced their target price on shares of Electronic Arts from $172.00 to $162.00 and set a “buy” rating for the company in a research note on Wednesday, February 2nd. Moffett Nathanson raised shares of Electronic Arts from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $151.00 to $141.00 in a research note on Wednesday, May 11th. Wedbush dropped their target price on shares of Electronic Arts from $180.00 to $164.00 in a research report on Wednesday, May 11th. The Goldman Sachs Group lowered shares of Electronic Arts from a “buy” rating to a “neutral” rating and dropped their target price for the company from $183.00 to $145.00 in a research report on Tuesday, April 19th. Finally, Sanford C. Bernstein initiated coverage on shares of Electronic Arts in a report on Friday, April 22nd. They issued an “outperform” rating and a $157.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $155.54.

EA traded down $1.19 during trading on Wednesday, reaching $127.28. 60,465 shares of the company traded hands, compared to its average volume of 3,037,484. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.20 and a current ratio of 1.18. Electronic Arts Inc. has a 12-month low of $109.24 and a 12-month high of $148.93. The firm has a fifty day simple moving average of $123.58 and a 200 day simple moving average of $129.01. The company has a market cap of $35.79 billion, a P/E ratio of 46.55, a PEG ratio of 1.96 and a beta of 0.82.

Electronic Arts (NASDAQ:EA – Get Rating) last announced its quarterly earnings data on Tuesday, May 10th. The game software company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.63). Electronic Arts had a net margin of 11.29% and a return on equity of 18.99%. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the business earned $0.72 earnings per share. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. As a group, sell-side analysts expect that Electronic Arts Inc. will post 5.69 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 22nd. Investors of record on Wednesday, June 8th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, June 7th. This is a positive change from Electronic Arts’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.60%. Electronic Arts’s dividend payout ratio (DPR) is 24.64%.

Electronic Arts Company Profile (Get Rating)

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 Plants vs.

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