Pacer Advisors Inc. Buys 13,623 Shares of Electronic Arts Inc. (NASDAQ:EA)

Pacer Advisors Inc. lifted its position in Electronic Arts Inc. (NASDAQ:EA) by 23.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,228 shares of the game software company’s stock after purchasing an additional 13,623 shares during the quarter. Pacer Advisors Inc.’s holdings in Electronic Arts were worth $10,360,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in EA. Price T Rowe Associates Inc. MD increased its stake in Electronic Arts by 496.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,511,250 shares of the game software company’s stock worth $333,169,000 after acquiring an additional 2,090,504 shares during the last quarter. Swedbank AB purchased a new position in shares of Electronic Arts in the first quarter valued at $201,935,000. Jericho Capital Asset Management L.P. bought a new stake in Electronic Arts in the first quarter worth $189,055,000. Manning & Napier Advisors LLC purchased a new stake in Electronic Arts during the second quarter valued at $188,159,000. Finally, D. E. Shaw & Co. Inc. lifted its position in Electronic Arts by 43.3% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,390,418 shares of the game software company’s stock valued at $193,727,000 after purchasing an additional 420,382 shares during the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Electronic Arts Price Performance

Shares of EA stock opened at $166.67 on Friday. The company has a market capitalization of $43.71 billion, a P/E ratio of 42.85, a P/E/G ratio of 2.19 and a beta of 0.78. The company’s 50-day simple moving average is $149.36 and its two-hundred day simple moving average is $143.84. Electronic Arts Inc. has a one year low of $124.92 and a one year high of $168.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.76 annualized dividend and a yield of 0.46%. Electronic Arts’s dividend payout ratio (DPR) is currently 19.54%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. BMO Capital Markets restated an “outperform” rating and issued a $160.00 target price (up from $154.00) on shares of Electronic Arts in a report on Wednesday, October 30th. Raymond James lifted 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. Morgan Stanley restated an “equal weight” rating and set a $150.00 price objective on shares of Electronic Arts in a research report on Wednesday, September 18th. StockNews.com raised Electronic Arts from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. Finally, TD Cowen increased their price target on Electronic Arts from $163.00 to $183.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $165.37.

Insiders Place Their Bets

In other news, insider Vijayanthimala Singh sold 7,384 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $149.91, for a total value of $1,106,935.44. Following the completion of the sale, the insider now owns 31,190 shares in the company, valued at approximately $4,675,692.90. The trade was a 19.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $141.50, for a total transaction of $353,750.00. Following the transaction, the chief executive officer now owns 54,247 shares in the company, valued at approximately $7,675,950.50. This represents a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,384 shares of company stock worth $4,776,635 in the last ninety days. 0.22% of the stock is owned by company insiders.

Electronic Arts 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.