Gateway Investment Advisers LLC Decreases Position in Electronic Arts Inc. (NASDAQ:EA)

Gateway Investment Advisers LLC reduced its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 13.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,665 shares of the game software company’s stock after selling 257 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Electronic Arts were worth $232,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new stake in shares of Electronic Arts during the second quarter valued at about $28,000. Lion Street Advisors LLC grew its stake in Electronic Arts by 112.4% during the 2nd quarter. Lion Street Advisors LLC now owns 5,379 shares of the game software company’s stock valued at $750,000 after purchasing an additional 2,846 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in Electronic Arts during the 2nd quarter worth approximately $188,159,000. BDF Gestion acquired a new position in shares of Electronic Arts in the 2nd quarter valued at approximately $9,527,000. Finally, Simplicity Wealth LLC boosted its stake in shares of Electronic Arts by 5.8% during the 2nd quarter. Simplicity Wealth LLC now owns 13,918 shares of the game software company’s stock valued at $1,939,000 after buying an additional 762 shares during the last quarter. 90.23% of the stock is owned by institutional investors and hedge funds.

Electronic Arts Stock Performance

Shares of EA traded down $0.42 during mid-day trading on Friday, hitting $146.60. The company’s stock had a trading volume of 2,640,924 shares, compared to its average volume of 2,176,192. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.37 and a current ratio of 1.45. Electronic Arts Inc. has a one year low of $117.47 and a one year high of $153.51. The stock’s 50-day moving average is $141.49 and its two-hundred day moving average is $136.25. The firm has a market capitalization of $38.96 billion, a PE ratio of 31.32, a price-to-earnings-growth ratio of 2.28 and a beta of 0.79.

Electronic Arts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th will be paid a $0.19 dividend. The ex-dividend date is Wednesday, August 28th. This represents a $0.76 dividend on an annualized basis and a yield of 0.52%. Electronic Arts’s payout ratio is currently 16.24%.

Insider Buying and Selling

In other Electronic Arts news, Director Luis A. Ubinas sold 2,126 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $146.77, for a total value of $312,033.02. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Jacob J. Schatz sold 1,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $127.15, for a total transaction of $127,150.00. Following the completion of the sale, the executive vice president now directly owns 17,426 shares of the company’s stock, valued at approximately $2,215,715.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Luis A. Ubinas sold 2,126 shares of Electronic Arts stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $146.77, for a total value of $312,033.02. The disclosure for this sale can be found here. Insiders sold 25,365 shares of company stock valued at $3,509,502 over the last quarter. Corporate insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on EA shares. Jefferies Financial Group began coverage on Electronic Arts in a report on Thursday, July 11th. They set a “buy” rating and a $165.00 target price on the stock. Citigroup lowered Electronic Arts from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $148.00 to $161.00 in a report on Monday, July 15th. Raymond James boosted their price target on Electronic Arts from $155.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. BMO Capital Markets reaffirmed an “outperform” rating and issued a $154.00 price objective on shares of Electronic Arts in a report on Tuesday, July 30th. Finally, Wedbush raised their target price on shares of Electronic Arts from $162.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.16.

Electronic Arts Company Profile

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.