Skylands Capital LLC Sells 4,550 Shares of Electronic Arts Inc. (NASDAQ:EA)

Skylands Capital LLC decreased its holdings in shares of Electronic Arts Inc. (NASDAQ:EA) by 67.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,200 shares of the game software company’s stock after selling 4,550 shares during the quarter. Skylands Capital LLC’s holdings in Electronic Arts were worth $307,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in EA. North Star Investment Management Corp. raised its stake in Electronic Arts by 333.3% during the first quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock worth $26,000 after buying an additional 150 shares during the last quarter. Cape Investment Advisory Inc. increased its holdings in Electronic Arts by 102.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 200 shares of the game software company’s stock worth $27,000 after purchasing an additional 101 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new position in Electronic Arts in the first quarter valued at approximately $27,000. Opal Wealth Advisors LLC bought a new position in shares of Electronic Arts during the 2nd quarter worth about $28,000. Finally, Larson Financial Group LLC bought a new position in shares of Electronic Arts in the 4th quarter worth $30,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Price Performance

Shares of NASDAQ:EA traded up $0.67 during midday trading on Tuesday, reaching $149.23. 774,098 shares of the company’s stock traded hands, compared to its average volume of 2,121,719. The company has a fifty day simple moving average of $144.02 and a two-hundred day simple moving average of $137.04. Electronic Arts Inc. has a 1 year low of $117.47 and a 1 year high of $153.51. The company has a market cap of $39.66 billion, a P/E ratio of 31.74, a PEG ratio of 2.28 and a beta of 0.79. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.37 and a current ratio of 1.45.

Electronic Arts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Wednesday, August 28th. Electronic Arts’s payout ratio is 16.24%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on EA shares. Benchmark lifted their price objective on shares of Electronic Arts from $153.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley lifted their target price on shares of Electronic Arts from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Citigroup cut Electronic Arts from a “buy” rating to a “neutral” rating and raised their price objective for the company from $148.00 to $161.00 in a research note on Monday, July 15th. Oppenheimer boosted their target price on Electronic Arts from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Finally, TD Cowen boosted their price objective on Electronic Arts from $163.00 to $183.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $161.28.

Insiders Place Their Bets

In other news, insider Vijayanthimala Singh sold 800 shares of Electronic Arts stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $132.88, for a total transaction of $106,304.00. Following the completion of the sale, the insider now directly owns 39,374 shares of the company’s stock, valued at approximately $5,232,017.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Stuart Canfield sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $141.01, for a total value of $211,515.00. Following the transaction, the chief financial officer now owns 10,553 shares of the company’s stock, valued at $1,488,078.53. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $132.88, for a total value of $106,304.00. Following the sale, the insider now directly owns 39,374 shares of the company’s stock, valued at $5,232,017.12. The disclosure for this sale can be found here. Insiders have sold a total of 15,486 shares of company stock valued at $2,215,126 in the last 90 days. 0.22% of the stock is owned by 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.