Barometer Capital Management Inc. Increases Position in Electronic Arts Inc. $EA

Barometer Capital Management Inc. raised its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 291.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,400 shares of the game software company’s stock after acquiring an additional 65,074 shares during the period. Electronic Arts makes up 2.1% of Barometer Capital Management Inc.’s portfolio, making the stock its 9th biggest holding. Barometer Capital Management Inc.’s holdings in Electronic Arts were worth $17,858,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in EA. Brighton Jones LLC increased its stake in shares of Electronic Arts by 9.4% in the fourth quarter. Brighton Jones LLC now owns 3,420 shares of the game software company’s stock worth $500,000 after purchasing an additional 294 shares during the period. Empowered Funds LLC grew its holdings in Electronic Arts by 167.0% in the 1st quarter. Empowered Funds LLC now owns 19,306 shares of the game software company’s stock valued at $2,790,000 after buying an additional 12,076 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in Electronic Arts by 150.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company’s stock valued at $46,000 after buying an additional 190 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Electronic Arts during the second quarter worth approximately $2,323,000. Finally, NewEdge Advisors LLC lifted its holdings in shares of Electronic Arts by 96.4% during the second quarter. NewEdge Advisors LLC now owns 3,067 shares of the game software company’s stock worth $490,000 after buying an additional 1,505 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Vijayanthimala Singh sold 1,200 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $200.81, for a total transaction of $240,972.00. Following the completion of the sale, the insider directly owned 27,560 shares of the company’s stock, valued at $5,534,323.60. This trade represents a 4.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jacob J. Schatz sold 5,000 shares of Electronic Arts stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 42,287 shares of the company’s stock, valued at $8,507,721.53. This represents a 10.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 39,906 shares of company stock valued at $8,032,336. Corporate insiders own 0.24% of the company’s stock.

Electronic Arts Stock Performance

Electronic Arts stock opened at $203.05 on Friday. The firm has a market capitalization of $50.91 billion, a P/E ratio of 58.18, a P/E/G ratio of 2.29 and a beta of 0.65. The stock has a fifty day moving average price of $202.24 and a two-hundred day moving average price of $202.35. Electronic Arts Inc. has a 52-week low of $146.97 and a 52-week high of $204.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.05 and a quick ratio of 1.05.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th will be given a $0.19 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $0.76 dividend on an annualized basis and a yield of 0.4%. Electronic Arts’s payout ratio is 21.78%.

Analyst Ratings Changes

Several brokerages have recently issued reports on EA. Citigroup raised their price objective on shares of Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Argus downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Weiss Ratings upgraded shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Finally, Wall Street Zen raised shares of Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. Two analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $196.64.

Electronic Arts Company Profile

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.