GABELLI & Co INVESTMENT ADVISERS INC. Has $28.12 Million Holdings in Electronic Arts Inc. $EA

GABELLI & Co INVESTMENT ADVISERS INC. increased its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 9.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 137,950 shares of the game software company’s stock after acquiring an additional 11,650 shares during the period. Electronic Arts makes up about 4.2% of GABELLI & Co INVESTMENT ADVISERS INC.’s holdings, making the stock its biggest position. GABELLI & Co INVESTMENT ADVISERS INC. owned 0.06% of Electronic Arts worth $28,124,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Compound Planning Inc. raised its position in shares of Electronic Arts by 8.1% in the first quarter. Compound Planning Inc. now owns 3,671 shares of the game software company’s stock worth $748,000 after buying an additional 274 shares in the last quarter. Modern Wealth Management LLC grew its position in Electronic Arts by 14.1% during the first quarter. Modern Wealth Management LLC now owns 2,845 shares of the game software company’s stock worth $579,000 after buying an additional 352 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Electronic Arts during the first quarter worth about $21,635,000. Caxton Associates LLP increased its stake in Electronic Arts by 1,301.5% in the 1st quarter. Caxton Associates LLP now owns 322,347 shares of the game software company’s stock worth $65,717,000 after acquiring an additional 299,347 shares during the last quarter. Finally, Capula Management Ltd increased its stake in Electronic Arts by 12.1% in the 1st quarter. Capula Management Ltd now owns 148,098 shares of the game software company’s stock worth $30,193,000 after acquiring an additional 15,948 shares during the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Citigroup raised their price target on Electronic Arts from $202.00 to $204.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Zacks Research lowered Electronic Arts from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Wall Street Zen upgraded shares of Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 18th. Finally, Argus lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Two research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $196.64.

Insiders Place Their Bets

In other Electronic Arts news, CFO Stuart Canfield sold 1,500 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $201.36, for a total transaction of $302,040.00. Following the transaction, the chief financial officer directly owned 25,991 shares in the company, valued at $5,233,547.76. This trade represents a 5.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Jacob J. Schatz sold 5,000 shares of Electronic Arts stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $201.19, for a total transaction of $1,005,950.00. Following the transaction, the executive vice president directly owned 42,287 shares in the company, valued at $8,507,721.53. This trade 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. Insiders have sold 31,206 shares of company stock valued at $6,292,058 over the last 90 days. Company insiders own 0.24% of the company’s stock.

Electronic Arts Price Performance

Shares of Electronic Arts stock opened at $209.08 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $52.43 billion, a PE ratio of 59.91, a price-to-earnings-growth ratio of 2.34 and a beta of 0.64. The business’s 50-day moving average price is $204.25 and its 200-day moving average price is $202.80. Electronic Arts Inc. has a 12 month low of $146.97 and a 12 month high of $209.34.

Electronic Arts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th were paid a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts’s dividend payout ratio is currently 21.78%.

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.