Virtu Financial LLC Makes New $985,000 Investment in Electronic Arts Inc. (NASDAQ:EA)

Virtu Financial LLC purchased a new position in Electronic Arts Inc. (NASDAQ:EA) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,429 shares of the game software company’s stock, valued at approximately $985,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Jennison Associates LLC raised its holdings in shares of Electronic Arts by 1.3% during the fourth quarter. Jennison Associates LLC now owns 6,339 shares of the game software company’s stock worth $867,000 after purchasing an additional 84 shares during the last quarter. MCF Advisors LLC raised its holdings in shares of Electronic Arts by 36.9% during the fourth quarter. MCF Advisors LLC now owns 356 shares of the game software company’s stock worth $49,000 after purchasing an additional 96 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of Electronic Arts by 4.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 2,194 shares of the game software company’s stock worth $291,000 after purchasing an additional 97 shares during the last quarter. Claro Advisors LLC raised its holdings in shares of Electronic Arts by 5.6% during the first quarter. Claro Advisors LLC now owns 1,881 shares of the game software company’s stock worth $250,000 after purchasing an additional 100 shares during the last quarter. Finally, Cape Investment Advisory Inc. raised its holdings in shares of Electronic Arts by 102.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 200 shares of the game software company’s stock worth $27,000 after purchasing an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Insider Activity

In other news, EVP Jacob J. Schatz sold 1,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $127.15, for a total value of $127,150.00. Following the completion of the transaction, the executive vice president now owns 17,426 shares in the company, valued at approximately $2,215,715.90. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Electronic Arts news, EVP Jacob J. Schatz sold 1,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $127.15, for a total transaction of $127,150.00. Following the transaction, the executive vice president now directly owns 17,426 shares of the company’s stock, valued at approximately $2,215,715.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Wilson sold 4,639 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $134.15, for a total transaction of $622,321.85. Following the transaction, the chief executive officer now directly owns 66,747 shares in the company, valued at $8,954,110.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,239 shares of company stock worth $3,197,469. Corporate insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

EA has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Electronic Arts from $148.00 to $155.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Wedbush raised their price target on shares of Electronic Arts from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday. Stifel Nicolaus raised their price target on shares of Electronic Arts from $165.00 to $167.00 and gave the company a “buy” rating in a research report on Wednesday. UBS Group lifted their target price on shares of Electronic Arts from $143.00 to $155.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, TD Cowen lifted their target price on shares of Electronic Arts from $163.00 to $183.00 and gave the company a “buy” rating in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $160.16.

Electronic Arts Trading Up 0.3 %

NASDAQ EA opened at $148.83 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.45 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 52 week low of $117.47 and a 52 week high of $153.51. The stock has a market capitalization of $39.55 billion, a PE ratio of 31.80, a price-to-earnings-growth ratio of 2.28 and a beta of 0.79. The firm has a 50 day moving average of $140.16 and a two-hundred day moving average of $135.98.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, May 7th. The game software company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.17). Electronic Arts had a return on equity of 16.34% and a net margin of 15.77%. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.78 billion. As a group, research analysts expect that Electronic Arts Inc. will post 5.76 EPS for the current fiscal year.

Electronic Arts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Wednesday, August 28th. Electronic Arts’s payout ratio is 16.24%.

About Electronic Arts

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 license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.