DLD Asset Management LP Makes New $1.01 Million Investment in Electronic Arts Inc. $EA

DLD Asset Management LP bought a new stake in Electronic Arts Inc. (NASDAQ:EA) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,913 shares of the game software company’s stock, valued at approximately $1,007,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. acquired a new stake in Electronic Arts in the 2nd quarter worth about $5,125,838,000. Pentwater Capital Management LP increased its stake in Electronic Arts by 128.1% during the 4th quarter. Pentwater Capital Management LP now owns 10,950,000 shares of the game software company’s stock worth $2,237,414,000 after buying an additional 6,150,000 shares in the last quarter. Norges Bank acquired a new position in shares of Electronic Arts during the fourth quarter valued at approximately $643,674,000. HBK Investments L P purchased a new position in shares of Electronic Arts in the fourth quarter valued at approximately $390,267,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Electronic Arts in the second quarter valued at approximately $269,846,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on EA shares. Argus cut Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Zacks Research lowered Electronic Arts from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Wall Street Zen raised shares of Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. Citigroup upped their target price on shares of Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, 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. One equities research analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Electronic Arts has a consensus rating of “Reduce” and an average target price of $206.50.

Electronic Arts Stock Performance

Shares of Electronic Arts stock opened at $209.70 on Monday. Electronic Arts Inc. has a one year low of $159.10 and a one year high of $210.20. The company has a market cap of $52.93 billion, a price-to-earnings ratio of 49.23 and a beta of 0.64. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.05 and a current ratio of 1.21. The business’s 50 day moving average price is $207.27 and its 200 day moving average price is $203.56.

Electronic Arts (NASDAQ:EA) last issued its earnings results on Monday, August 3rd. The game software company reported $1.58 earnings per share (EPS) for the quarter. The business had revenue of $1.99 billion during the quarter. Electronic Arts had a return on equity of 22.45% and a net margin of 13.80%.

Insider Buying and Selling

In other news, insider Laura Miele sold 2,500 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $203.10, for a total value of $507,750.00. Following the completion of the sale, the insider owned 73,513 shares of the company’s stock, valued at $14,930,490.30. This represents a 3.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vijayanthimala Singh sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $203.00, for a total value of $243,600.00. Following the completion of the transaction, the insider owned 26,360 shares in the company, valued at $5,351,080. This represents a 4.35% 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. Over the last ninety days, insiders sold 8,700 shares of company stock worth $1,766,950. Insiders own 0.24% of the company’s stock.

Electronic Arts 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.