Neo Ivy Capital Management Makes New $359,000 Investment in Electronic Arts Inc. (NASDAQ:EA)

Neo Ivy Capital Management bought a new position in Electronic Arts Inc. (NASDAQ:EA) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 2,454 shares of the game software company’s stock, valued at approximately $359,000.

Other hedge funds have also recently made changes to their positions in the company. Merit Financial Group LLC purchased a new stake in Electronic Arts during the 4th quarter valued at $312,000. Ballentine Partners LLC increased its position in Electronic Arts by 2.2% during the fourth quarter. Ballentine Partners LLC now owns 3,761 shares of the game software company’s stock valued at $550,000 after acquiring an additional 82 shares during the last quarter. Atomi Financial Group Inc. purchased a new stake in shares of Electronic Arts in the fourth quarter valued at $217,000. Dakota Wealth Management boosted its stake in shares of Electronic Arts by 14.3% during the 4th quarter. Dakota Wealth Management now owns 7,504 shares of the game software company’s stock worth $1,098,000 after purchasing an additional 938 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Electronic Arts by 39.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 17,383 shares of the game software company’s stock worth $2,543,000 after purchasing an additional 4,884 shares during the period. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Oppenheimer increased their price objective on shares of Electronic Arts from $170.00 to $185.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Argus set a $170.00 price target on Electronic Arts in a report on Friday, May 16th. Bank of America boosted their price objective on Electronic Arts from $130.00 to $132.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. BNP Paribas lowered Electronic Arts from an “outperform” rating to a “neutral” rating and set a $125.00 target price on the stock. in a research note on Monday, January 27th. Finally, Wedbush lifted their target price on Electronic Arts from $179.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Fifteen equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $161.29.

Electronic Arts Price Performance

Shares of EA stock opened at $146.89 on Friday. The stock’s 50-day moving average is $145.49 and its 200 day moving average is $144.96. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $168.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market cap of $36.84 billion, a P/E ratio of 37.38, a PEG ratio of 3.58 and a beta of 0.74.

Electronic Arts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 28th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Wednesday, May 28th. Electronic Arts’s payout ratio is 17.92%.

Insider Activity

In other news, CEO Andrew Wilson sold 6,563 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $151.18, for a total transaction of $992,194.34. Following the sale, the chief executive officer now owns 70,059 shares in the company, valued at approximately $10,591,519.62. The trade was a 8.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vijayanthimala Singh sold 1,000 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $145.00, for a total transaction of $145,000.00. Following the transaction, the insider now owns 26,216 shares in the company, valued at approximately $3,801,320. This trade represents a 3.67% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,729 shares of company stock worth $4,107,664. Corporate insiders own 0.22% of the company’s stock.

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.