Mackenzie Financial Corp Cuts Position in Electronic Arts Inc. (NASDAQ:EA)

Mackenzie Financial Corp lowered its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 130,233 shares of the game software company’s stock after selling 1,752 shares during the quarter. Mackenzie Financial Corp’s holdings in Electronic Arts were worth $17,817,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of EA. Bray Capital Advisors increased its stake in shares of Electronic Arts by 100.0% during the third quarter. Bray Capital Advisors now owns 220 shares of the game software company’s stock worth $26,000 after purchasing an additional 110 shares in the last quarter. Resurgent Financial Advisors LLC purchased a new stake in Electronic Arts during the 4th quarter worth approximately $26,000. Leith Wheeler Investment Counsel Ltd. raised its holdings in shares of Electronic Arts by 269.1% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 212,585 shares of the game software company’s stock valued at $29,000 after acquiring an additional 154,989 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of Electronic Arts by 81.0% in the fourth quarter. Venturi Wealth Management LLC now owns 228 shares of the game software company’s stock valued at $31,000 after acquiring an additional 102 shares in the last quarter. Finally, Neo Ivy Capital Management boosted its stake in shares of Electronic Arts by 70.1% in the second quarter. Neo Ivy Capital Management now owns 262 shares of the game software company’s stock worth $31,000 after acquiring an additional 108 shares during the last quarter. 90.23% of the stock is owned by institutional investors and hedge funds.

Electronic Arts Stock Performance

Shares of Electronic Arts stock opened at $125.63 on Friday. The firm has a market cap of $33.59 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 1.76 and a beta of 0.76. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.25. Electronic Arts Inc. has a 52 week low of $117.47 and a 52 week high of $144.53. The business’s fifty day simple moving average is $135.02 and its 200-day simple moving average is $134.25.

Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Tuesday, January 30th. The game software company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.38). The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.40 billion. Electronic Arts had a net margin of 14.09% and a return on equity of 20.58%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.29 earnings per share. Equities analysts forecast that Electronic Arts Inc. will post 5.36 earnings per share for the current year.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, February 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.60%. Electronic Arts’s payout ratio is currently 19.14%.

Insider Activity at Electronic Arts

In related news, insider Jacob J. Schatz sold 1,000 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $128.21, for a total value of $128,210.00. Following the sale, the insider now owns 18,426 shares in the company, valued at approximately $2,362,397.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Electronic Arts news, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $138.88, for a total value of $347,200.00. Following the completion of the transaction, the chief executive officer now owns 30,930 shares of the company’s stock, valued at approximately $4,295,558.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacob J. Schatz sold 1,000 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $128.21, for a total transaction of $128,210.00. Following the completion of the transaction, the insider now owns 18,426 shares of the company’s stock, valued at approximately $2,362,397.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,144 shares of company stock worth $5,143,560. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EA. Benchmark restated a “buy” rating and issued a $153.00 price objective on shares of Electronic Arts in a report on Thursday. UBS Group lowered their price target on shares of Electronic Arts from $146.00 to $143.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 27th. Wedbush reiterated an “outperform” rating and issued a $162.00 price objective on shares of Electronic Arts in a report on Wednesday, January 31st. Stifel Nicolaus raised their target price on shares of Electronic Arts from $152.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Finally, BMO Capital Markets assumed coverage on Electronic Arts in a research report on Tuesday, January 9th. They issued an “outperform” rating and a $160.00 price target for the company. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Electronic Arts presently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Electronic Arts Company 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.