Van ECK Associates Corp Buys 88,091 Shares of Electronic Arts Inc. $EA

Van ECK Associates Corp increased its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 17.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 580,905 shares of the game software company’s stock after acquiring an additional 88,091 shares during the quarter. Van ECK Associates Corp’s holdings in Electronic Arts were worth $117,169,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EA. Ameriflex Group Inc. increased its position in Electronic Arts by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 138 shares of the game software company’s stock valued at $28,000 after buying an additional 69 shares in the last quarter. Oakworth Capital Inc. acquired a new stake in Electronic Arts in the third quarter valued at approximately $30,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Electronic Arts by 131.9% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 167 shares of the game software company’s stock valued at $34,000 after acquiring an additional 95 shares in the last quarter. MTM Investment Management LLC acquired a new position in shares of Electronic Arts during the second quarter worth approximately $30,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of Electronic Arts during the second quarter worth approximately $37,000. 90.23% of the stock is owned by institutional investors.

Insider Activity

In other Electronic Arts news, CFO Stuart Canfield sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $199.90, for a total transaction of $299,850.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $199.50, for a total transaction of $997,500.00. Following the completion of the transaction, the chief executive officer owned 33,858 shares in the company, valued at approximately $6,754,671. The trade was a 12.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 27,600 shares of company stock valued at $5,589,823. Company insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on EA shares. Citigroup reduced their price target on shares of Electronic Arts from $207.00 to $202.00 and set a “neutral” rating for the company in a research report on Wednesday, February 4th. UBS Group reiterated a “neutral” rating on shares of Electronic Arts in a report on Wednesday, February 4th. Finally, Zacks Research downgraded shares of Electronic Arts from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Three research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $188.30.

Electronic Arts Stock Up 0.4%

Shares of NASDAQ:EA opened at $200.07 on Wednesday. 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 firm has a fifty day moving average price of $202.23 and a two-hundred day moving average price of $196.70. The company has a market cap of $50.07 billion, a price-to-earnings ratio of 75.21, a PEG ratio of 2.37 and a beta of 0.75. Electronic Arts Inc. has a one year low of $131.15 and a one year high of $204.88.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Wednesday, February 25th. Electronic Arts’s dividend payout ratio is currently 28.57%.

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.