Connor Clark & Lunn Investment Management Ltd. Acquires 32,084 Shares of Electronic Arts Inc. (NASDAQ:EA)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 1,901.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,771 shares of the game software company’s stock after buying an additional 32,084 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Electronic Arts were worth $4,941,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. lifted its position in Electronic Arts by 141.0% during the 4th quarter. Pinnacle Bancorp Inc. now owns 200 shares of the game software company’s stock worth $29,000 after buying an additional 117 shares in the last quarter. Whipplewood Advisors LLC bought a new stake in shares of Electronic Arts in the 4th quarter valued at about $32,000. SBI Securities Co. Ltd. bought a new stake in shares of Electronic Arts in the 4th quarter valued at about $41,000. Larson Financial Group LLC raised its holdings in shares of Electronic Arts by 31.8% in the 3rd quarter. Larson Financial Group LLC now owns 290 shares of the game software company’s stock valued at $42,000 after purchasing an additional 70 shares during the period. Finally, OFI Invest Asset Management bought a new stake in shares of Electronic Arts in the 4th quarter valued at about $42,000. 90.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on EA shares. Benchmark dropped their target price on shares of Electronic Arts from $163.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. Moffett Nathanson raised shares of Electronic Arts from a “neutral” rating to a “buy” rating and set a $145.00 target price on the stock in a report on Friday, January 31st. Citigroup dropped their target price on shares of Electronic Arts from $163.00 to $139.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Ascendiant Capital Markets upped their target price on shares of Electronic Arts from $157.00 to $160.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Finally, Oppenheimer decreased their price target on shares of Electronic Arts from $170.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 21st. Thirteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $154.78.

Insider Transactions at Electronic Arts

In related news, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $148.00, for a total value of $740,000.00. Following the completion of the transaction, the chief executive officer now owns 47,615 shares of the company’s stock, valued at $7,047,020. This represents a 9.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Laura Miele sold 2,500 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $130.83, for a total transaction of $327,075.00. Following the completion of the transaction, the insider now directly owns 47,514 shares of the company’s stock, valued at approximately $6,216,256.62. The trade was a 5.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,000 shares of company stock valued at $3,194,240. Company insiders own 0.22% of the company’s stock.

Electronic Arts Stock Performance

Shares of Electronic Arts stock opened at $138.71 on Monday. The company has a 50 day moving average of $132.85 and a 200-day moving average of $144.85. Electronic Arts Inc. has a 1-year low of $115.21 and a 1-year high of $168.50. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.25. The company has a market cap of $36.15 billion, a PE ratio of 35.30, a price-to-earnings-growth ratio of 3.58 and a beta of 0.78.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Tuesday, February 4th. The game software company reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $3.41 by ($1.07). Electronic Arts had a return on equity of 17.80% and a net margin of 14.28%. As a group, equities research analysts forecast that Electronic Arts Inc. will post 4.71 earnings per share for the current fiscal year.

Electronic Arts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Wednesday, February 26th. Electronic Arts’s dividend payout ratio (DPR) is presently 19.34%.

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.