Contravisory Investment Management Inc. Boosts Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)


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Contravisory Investment Management Inc. raised its holdings in Electronic Arts Inc. (NASDAQ:EA) by 777.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,509 shares of the game software company’s stock after purchasing an additional 34,121 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Electronic Arts were worth $5,530,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the company. Orrstown Financial Services Inc. grew its holdings in shares of Electronic Arts by 38.1% in the 4th quarter. Orrstown Financial Services Inc. now owns 4,583 shares of the game software company’s stock worth $658,000 after acquiring an additional 1,265 shares during the period. Sheets Smith Wealth Management acquired a new stake in Electronic Arts in the fourth quarter valued at $268,000. Pinnacle Financial Partners Inc. acquired a new stake in Electronic Arts in the fourth quarter valued at $207,000. CX Institutional boosted its position in shares of Electronic Arts by 49.1% in the 4th quarter. CX Institutional now owns 407 shares of the game software company’s stock worth $58,000 after buying an additional 134 shares in the last quarter. Finally, Central Bank & Trust Co. acquired a new stake in Electronic Arts in the 4th quarter valued at about $3,785,000. 81.28% of the stock is owned by institutional investors and hedge funds.

Several analysts have issued reports on EA shares. Morgan Stanley upped their price target on shares of Electronic Arts from $140.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, December 22nd. Deutsche Bank Aktiengesellschaft increased their target price on Electronic Arts from $125.00 to $144.00 and gave the company a “hold” rating in a report on Tuesday, October 13th. Jefferies Financial Group dropped their price target on Electronic Arts from $155.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, October 26th. BMO Capital Markets decreased their price objective on Electronic Arts from $142.00 to $127.00 and set a “market perform” rating on the stock in a research note on Monday, November 9th. Finally, Bank of America dropped their price objective on Electronic Arts from $141.00 to $138.00 and set a “neutral” rating for the company in a research report on Friday, November 6th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Electronic Arts has an average rating of “Buy” and a consensus target price of $142.21.

Shares of EA stock traded down $2.72 during mid-day trading on Wednesday, reaching $136.34. The company’s stock had a trading volume of 3,491,907 shares, compared to its average volume of 2,674,396. The company’s 50 day simple moving average is $136.28 and its 200-day simple moving average is $133.00. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.05. Electronic Arts Inc. has a 12-month low of $85.69 and a 12-month high of $147.36. The firm has a market capitalization of $39.52 billion, a PE ratio of 30.66, a price-to-earnings-growth ratio of 2.94 and a beta of 0.90.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings data on Thursday, November 5th. The game software company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.26. Electronic Arts had a return on equity of 17.85% and a net margin of 23.51%. The company had revenue of $910.00 million for the quarter, compared to analyst estimates of $955.62 million. As a group, research analysts anticipate that Electronic Arts Inc. will post 4.14 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 23rd. Shareholders of record on Wednesday, December 2nd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Tuesday, December 1st. Electronic Arts’s dividend payout ratio is presently 14.29%.

In related news, General Counsel Jacob J. Schatz sold 1,000 shares of the business’s stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $132.77, for a total value of $132,770.00. Following the transaction, the general counsel now owns 17,503 shares in the company, valued at $2,323,873.31. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Matthew Bilbey sold 330 shares of the stock in a transaction dated Wednesday, November 18th. The shares were sold at an average price of $118.29, for a total value of $39,035.70. Following the completion of the transaction, the executive vice president now directly owns 8,934 shares of the company’s stock, valued at approximately $1,056,802.86. The disclosure for this sale can be found here. Insiders sold 29,452 shares of company stock valued at $3,625,303 in the last ninety days. 0.92% of the stock is owned by corporate insiders.

Electronic Arts Profile

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and Plants v.

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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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