Miracle Mile Advisors LLC Takes $1.17 Million Position in Electronic Arts Inc. (NASDAQ:EA)

Miracle Mile Advisors LLC acquired a new stake in Electronic Arts Inc. (NASDAQ:EA) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,023 shares of the game software company’s stock, valued at approximately $1,174,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in EA. Ashton Thomas Securities LLC purchased a new stake in shares of Electronic Arts in the third quarter valued at $25,000. Reston Wealth Management LLC acquired a new position in Electronic Arts in the third quarter valued at $36,000. Bruce G. Allen Investments LLC boosted its holdings in Electronic Arts by 156.6% in the third quarter. Bruce G. Allen Investments LLC now owns 272 shares of the game software company’s stock valued at $39,000 after acquiring an additional 166 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Electronic Arts by 31.8% in the third quarter. Larson Financial Group LLC now owns 290 shares of the game software company’s stock valued at $42,000 after acquiring an additional 70 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Electronic Arts by 9,280.0% in the fourth quarter. Versant Capital Management Inc now owns 469 shares of the game software company’s stock valued at $69,000 after acquiring an additional 464 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EA. Wedbush reiterated an “outperform” rating and issued a $170.00 target price on shares of Electronic Arts in a report on Friday, October 25th. Morgan Stanley reiterated an “equal weight” rating and issued a $150.00 target price on shares of Electronic Arts in a report on Wednesday, September 18th. Benchmark restated a “buy” rating and set a $163.00 price objective on shares of Electronic Arts in a research note on Wednesday, October 30th. Stifel Nicolaus restated a “hold” rating and set a $167.00 price objective on shares of Electronic Arts in a research note on Wednesday, December 18th. Finally, UBS Group boosted their price objective on Electronic Arts from $155.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $165.37.

Insider Buying and Selling at Electronic Arts

In other news, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $145.87, for a total transaction of $364,675.00. Following the completion of the sale, the chief executive officer now directly owns 51,747 shares of the company’s stock, valued at $7,548,334.89. This trade represents a 4.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Vijayanthimala Singh sold 1,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $147.57, for a total value of $147,570.00. Following the sale, the insider now directly owns 29,216 shares of the company’s stock, valued at approximately $4,311,405.12. This represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,000 shares of company stock valued at $3,422,485. 0.22% of the stock is owned by corporate insiders.

Electronic Arts Stock Performance

Shares of EA stock opened at $141.75 on Wednesday. Electronic Arts Inc. has a 12-month low of $124.92 and a 12-month high of $168.50. The firm has a market capitalization of $37.18 billion, a price-to-earnings ratio of 36.44, a price-to-earnings-growth ratio of 2.06 and a beta of 0.80. The business has a 50 day simple moving average of $156.67 and a 200 day simple moving average of $149.10. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, November 27th. Electronic Arts’s payout ratio is currently 19.54%.

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.