Polar Asset Management Partners Inc. Acquires 38,258 Shares of Electronic Arts Inc. $EA

Polar Asset Management Partners Inc. raised its stake in shares of Electronic Arts Inc. (NASDAQ:EA) by 13.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 323,078 shares of the game software company’s stock after purchasing an additional 38,258 shares during the period. Electronic Arts accounts for approximately 1.3% of Polar Asset Management Partners Inc.’s investment portfolio, making the stock its 11th biggest position. Polar Asset Management Partners Inc. owned approximately 0.13% of Electronic Arts worth $65,866,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Cornerstone Planning Group LLC increased its position in shares of Electronic Arts by 26.7% during the first quarter. Cornerstone Planning Group LLC now owns 242 shares of the game software company’s stock worth $49,000 after buying an additional 51 shares during the period. Optas LLC boosted its position in Electronic Arts by 4.2% during the first quarter. Optas LLC now owns 1,332 shares of the game software company’s stock valued at $272,000 after acquiring an additional 54 shares during the last quarter. Salomon & Ludwin LLC grew its holdings in Electronic Arts by 32.8% during the 4th quarter. Salomon & Ludwin LLC now owns 231 shares of the game software company’s stock worth $47,000 after acquiring an additional 57 shares during the period. Macroview Investment Management LLC grew its holdings in Electronic Arts by 6.2% during the 4th quarter. Macroview Investment Management LLC now owns 1,065 shares of the game software company’s stock worth $218,000 after acquiring an additional 62 shares during the period. Finally, Candriam S.C.A. raised its position in shares of Electronic Arts by 0.3% in the 1st quarter. Candriam S.C.A. now owns 24,685 shares of the game software company’s stock worth $5,033,000 after acquiring an additional 65 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Vijayanthimala Singh sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $203.00, for a total value of $243,600.00. Following the transaction, the insider owned 26,360 shares in the company, valued at $5,351,080. This trade represents a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $203.12, for a total value of $1,015,600.00. Following the transaction, the chief executive officer directly owned 80,974 shares in the company, valued at approximately $16,447,438.88. The trade was a 5.82% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 31,206 shares of company stock worth $6,292,058 over the last ninety days. Insiders own 0.24% of the company’s stock.

Electronic Arts Stock Performance

NASDAQ EA opened at $209.08 on Monday. The company has a market cap of $52.43 billion, a P/E ratio of 59.91, a PEG ratio of 2.34 and a beta of 0.64. The company has a fifty day simple moving average of $204.25 and a 200 day simple moving average of $202.79. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22. Electronic Arts Inc. has a 12-month low of $146.97 and a 12-month high of $209.34.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 27th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.4%. Electronic Arts’s payout ratio is presently 21.78%.

Analyst Upgrades and Downgrades

EA has been the topic of several research analyst reports. Argus lowered Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Wall Street Zen raised Electronic Arts to a “hold” rating in a research note on Saturday, June 6th. Zacks Research cut Electronic Arts from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Citigroup raised their price objective on shares of Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings upgraded shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Two equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Electronic Arts presently has an average rating of “Hold” and a consensus target price of $196.64.

About Electronic Arts

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.