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

Chesapeake Capital Corp IL bought a new position in Electronic Arts Inc. (NASDAQ:EA) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,626 shares of the game software company’s stock, valued at approximately $950,000. Electronic Arts makes up approximately 0.9% of Chesapeake Capital Corp IL’s investment portfolio, making the stock its 22nd biggest position.

A number of other hedge funds have also added to or reduced their stakes in EA. Ashton Thomas Securities LLC acquired a new position in shares of Electronic Arts during the third quarter worth approximately $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Electronic Arts during the second quarter worth approximately $28,000. Family Firm Inc. acquired a new position in shares of Electronic Arts during the second quarter worth approximately $33,000. New Covenant Trust Company N.A. acquired a new position in shares of Electronic Arts during the first quarter worth approximately $35,000. Finally, Reston Wealth Management LLC acquired a new position in shares of Electronic Arts during the third quarter worth approximately $36,000. 90.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on EA shares. Argus upped their target price on Electronic Arts from $161.00 to $183.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Robert W. Baird increased their price target on Electronic Arts from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. TD Cowen increased their price target on Electronic Arts from $163.00 to $183.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Roth Mkm increased their price target on Electronic Arts from $154.00 to $158.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, BNP Paribas raised Electronic Arts to a “strong-buy” rating in a research report on Wednesday, October 9th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $165.37.

Electronic Arts Stock Down 1.7 %

Shares of NASDAQ:EA opened at $161.36 on Friday. The company has a market capitalization of $42.32 billion, a PE ratio of 41.48, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43. The business has a fifty day moving average price of $147.17 and a two-hundred day moving average price of $142.55. Electronic Arts Inc. has a 1 year low of $124.92 and a 1 year high of $164.42.

Electronic Arts Dividend Announcement

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. The ex-dividend date is Wednesday, November 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.47%. Electronic Arts’s payout ratio is 19.54%.

Insider Transactions at Electronic Arts

In other news, insider Laura Miele sold 2,500 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $158.03, for a total transaction of $395,075.00. Following the completion of the transaction, the insider now owns 50,433 shares in the company, valued at approximately $7,969,926.99. This represents a 4.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vijayanthimala Singh sold 1,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $151.70, for a total value of $151,700.00. Following the transaction, the insider now owns 30,190 shares of the company’s stock, valued at $4,579,823. The trade was a 3.21 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,144 shares of company stock worth $3,886,282. 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.