Chesapeake Capital Corp IL Makes New Investment in Electronic Arts Inc. (NASDAQ:EA)

Chesapeake Capital Corp IL acquired a new position in shares of Electronic Arts Inc. (NASDAQ:EA) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 6,626 shares of the game software company’s stock, valued at approximately $950,000. Electronic Arts accounts for 0.9% of Chesapeake Capital Corp IL’s holdings, making the stock its 22nd largest holding.

Several other large investors have also recently added to or reduced their stakes in EA. RIA Advisory Group LLC bought a new position in shares of Electronic Arts in the third quarter worth $349,000. Natixis Advisors LLC increased its position in shares of Electronic Arts by 16.0% in the third quarter. Natixis Advisors LLC now owns 263,298 shares of the game software company’s stock worth $37,768,000 after purchasing an additional 36,262 shares during the period. Archer Investment Corp increased its position in shares of Electronic Arts by 3,893.6% in the third quarter. Archer Investment Corp now owns 1,877 shares of the game software company’s stock worth $269,000 after purchasing an additional 1,830 shares during the period. Empirical Finance LLC increased its position in shares of Electronic Arts by 1.6% in the third quarter. Empirical Finance LLC now owns 8,854 shares of the game software company’s stock worth $1,270,000 after purchasing an additional 137 shares during the period. Finally, First Business Financial Services Inc. increased its position in shares of Electronic Arts by 8.7% in the third quarter. First Business Financial Services Inc. now owns 15,286 shares of the game software company’s stock worth $2,193,000 after purchasing an additional 1,220 shares during the period. Institutional investors own 90.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on EA shares. Argus raised their price target on Electronic Arts from $161.00 to $183.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. StockNews.com upgraded Electronic Arts from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. Stifel Nicolaus raised their price target on Electronic Arts from $165.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Morgan Stanley reaffirmed an “equal weight” rating and issued a $150.00 price objective on shares of Electronic Arts in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. reduced their price objective on Electronic Arts from $155.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.37.

Electronic Arts Stock Performance

Shares of EA stock opened at $161.36 on Friday. The business’s 50-day moving average price is $147.17 and its 200-day moving average price is $142.55. Electronic Arts Inc. has a 12 month low of $124.92 and a 12 month high of $164.42. The firm has a market capitalization of $42.32 billion, a price-to-earnings ratio of 41.48, a PEG ratio of 2.11 and a beta of 0.78. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Wednesday, November 27th. Electronic Arts’s payout ratio is 19.54%.

Insider Buying and Selling

In related news, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $158.03, for a total value of $395,075.00. Following the transaction, the insider now directly owns 50,433 shares of the company’s stock, valued at $7,969,926.99. The trade was a 4.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vijayanthimala Singh sold 7,384 shares of Electronic Arts stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $149.91, for a total value of $1,106,935.44. Following the completion of the transaction, the insider now directly owns 31,190 shares in the company, valued at approximately $4,675,692.90. This represents a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,144 shares of company stock valued at $3,886,282 over 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.