Pacer Advisors Inc. Has $5.05 Million Position in Electronic Arts Inc. $EA

Pacer Advisors Inc. cut its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 40.6% during the first quarter, HoldingsChannel.com reports. The firm owned 24,771 shares of the game software company’s stock after selling 16,923 shares during the period. Pacer Advisors Inc.’s holdings in Electronic Arts were worth $5,050,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Ascentis Independent Advisors acquired a new stake in shares of Electronic Arts during the 1st quarter valued at $27,000. MV Capital Management Inc. acquired a new position in shares of Electronic Arts in the fourth quarter worth $28,000. Asset Planning Inc purchased a new stake in shares of Electronic Arts during the first quarter worth $32,000. Whipplewood Advisors LLC purchased a new stake in shares of Electronic Arts during the first quarter worth $32,000. Finally, Fideuram Asset Management Ireland dac acquired a new stake in Electronic Arts during the fourth quarter valued at $44,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Price Performance

NASDAQ EA opened at $209.70 on Thursday. Electronic Arts Inc. has a fifty-two week low of $159.10 and a fifty-two week high of $210.20. The stock’s 50-day moving average is $205.56 and its two-hundred day moving average is $203.08. The firm has a market cap of $52.93 billion, a P/E ratio of 49.23, a price-to-earnings-growth ratio of 2.35 and a beta of 0.64. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.21 and a quick ratio of 1.05.

Key Electronic Arts News

Here are the key news stories impacting Electronic Arts this week:

• Positive Sentiment: The completed transaction provides investors with a definitive cash exit at $210 per share, removing the uncertainty associated with the previously announced buyout. The deal also marks a premium-oriented valuation of the video-game publisher at roughly $55 billion. Saudi wealth fund and Jared Kushner finalize EA deal
• Positive Sentiment: EA’s latest reported quarter was stronger than expected, with earnings per share of $1.58 versus the $0.78 consensus estimate and revenue of $1.99 billion versus expectations of $1.46 billion. While the company is no longer publicly traded, the results indicate solid underlying operating performance at the time of the sale.
• Neutral Sentiment: EA is now privately owned, ending its public-market listing and eliminating the opportunity for ordinary investors to participate in future share-price gains or losses unless the company is later relisted. Jared Kushner’s Affinity Partners is among the consortium members. Video game maker EA bought by Saudi-led group
• Negative Sentiment: Reports suggest the new owners could pursue substantial cost reductions, including possible mass layoffs. These reports are not confirmed company guidance, but they raise questions about employee retention, development capacity and the effect on future game releases. EA Has Officially Been Sold

Analyst Ratings Changes

EA has been the topic of a number of recent research reports. Wall Street Zen upgraded Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. Argus downgraded Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Zacks Research cut shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, Citigroup boosted their target price on shares of Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Electronic Arts currently has an average rating of “Reduce” and a consensus price target of $202.27.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $203.00, for a total transaction of $243,600.00. Following the completion of the sale, the insider owned 26,360 shares of the company’s stock, valued at $5,351,080. This represents a 4.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jacob J. Schatz sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $201.19, for a total value of $1,005,950.00. Following the transaction, the executive vice president owned 42,287 shares in the company, valued at approximately $8,507,721.53. This trade represents a 10.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 31,206 shares of company stock worth $6,292,058 in the last 90 days. Company insiders own 0.24% of the company’s stock.

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.