Empyrean Capital Partners LP Takes Position in Electronic Arts Inc. $EA

Empyrean Capital Partners LP bought a new stake in shares of Electronic Arts Inc. (NASDAQ:EA) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 227,000 shares of the game software company’s stock, valued at approximately $46,278,000. Electronic Arts comprises 1.5% of Empyrean Capital Partners LP’s investment portfolio, making the stock its 20th largest holding.

A number of other institutional investors have also recently bought and sold shares of the stock. Resona Asset Management Co. Ltd. increased its position in shares of Electronic Arts by 12.5% in the first quarter. Resona Asset Management Co. Ltd. now owns 108,908 shares of the game software company’s stock worth $22,185,000 after acquiring an additional 12,095 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Electronic Arts by 9.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 110,851 shares of the game software company’s stock valued at $22,650,000 after acquiring an additional 9,297 shares in the last quarter. Swiss National Bank lifted its position in shares of Electronic Arts by 8.0% in the 1st quarter. Swiss National Bank now owns 704,400 shares of the game software company’s stock valued at $143,606,000 after acquiring an additional 51,900 shares in the last quarter. OFI Invest Asset Management acquired a new position in Electronic Arts in the 4th quarter worth approximately $8,745,000. Finally, Tokio Marine Asset Management Co. Ltd. boosted its stake in Electronic Arts by 500.3% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 47,805 shares of the game software company’s stock worth $9,768,000 after purchasing an additional 39,841 shares during the period. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Insider Activity

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,200 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $203.00, for a total value of $243,600.00. Following the transaction, the insider owned 26,360 shares in the company, valued at $5,351,080. The trade was a 4.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $203.12, for a total value of $1,015,600.00. Following the completion of the transaction, the chief executive officer directly owned 80,974 shares in the company, valued at approximately $16,447,438.88. The trade was a 5.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 31,206 shares of company stock valued at $6,292,058. 0.24% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EA. 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. Zacks Research cut Electronic Arts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Wall Street Zen upgraded Electronic Arts to a “hold” rating in a report on Saturday, June 6th. Argus lowered Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Finally, Citigroup increased their price objective on Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Electronic Arts presently has an average rating of “Hold” and a consensus target price of $198.85.

Electronic Arts Trading Up 0.0%

Shares of NASDAQ:EA opened at $209.07 on Tuesday. The firm has a fifty day moving average of $204.41 and a two-hundred day moving average of $202.83. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22. Electronic Arts Inc. has a 12-month low of $146.97 and a 12-month high of $209.34. The firm has a market capitalization of $52.42 billion, a P/E ratio of 59.91, a price-to-earnings-growth ratio of 2.34 and a beta of 0.64.

Electronic Arts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 27th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Wednesday, May 27th. Electronic Arts’s dividend payout ratio (DPR) 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.