Electronic Arts Inc. (NASDAQ:EA) Short Interest Update

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Electronic Arts Inc. (NASDAQ:EA – Get Rating) was the target of a significant drop in short interest in November. As of November 30th, there was short interest totalling 3,670,000 shares, a drop of 13.6% from the November 15th total of 4,250,000 shares. Currently, 1.4% of the shares of the stock are sold short. Based on an average daily volume of 1,940,000 shares, the days-to-cover ratio is currently 1.9 days.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EA. Wedbush cut their target price on shares of Electronic Arts from $170.00 to $164.00 and set an “outperform” rating on the stock in a report on Wednesday, November 2nd. Truist Financial cut their price target on shares of Electronic Arts from $154.00 to $150.00 in a report on Monday, November 28th. Stifel Nicolaus cut their price target on shares of Electronic Arts from $153.00 to $144.00 and set a “buy” rating on the stock in a report on Monday, October 24th. Credit Suisse Group cut their price target on shares of Electronic Arts from $144.00 to $143.00 and set an “outperform” rating on the stock in a report on Wednesday, November 2nd. Finally, Atlantic Securities cut shares of Electronic Arts from an “overweight” rating to a “neutral” rating and cut their price target for the company from $140.00 to $130.00 in a report on Thursday, September 15th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Electronic Arts has a consensus rating of “Moderate Buy” and an average target price of $148.50.

Electronic Arts Stock Up 0.0 %

Shares of EA traded up $0.01 during trading hours on Friday, hitting $121.74. The company had a trading volume of 4,312,561 shares, compared to its average volume of 2,219,847. The firm has a fifty day moving average price of $126.81 and a 200-day moving average price of $127.28. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $33.61 billion, a price-to-earnings ratio of 37.93, a P/E/G ratio of 1.98 and a beta of 0.87. Electronic Arts has a 52-week low of $109.24 and a 52-week high of $142.79.

Electronic Arts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 21st. Stockholders of record on Wednesday, November 30th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Tuesday, November 29th. Electronic Arts’s dividend payout ratio is presently 23.68%.

Insider Activity at Electronic Arts

In other Electronic Arts news, insider Chris Bruzzo sold 2,000 shares of Electronic Arts stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $118.69, for a total transaction of $237,380.00. Following the transaction, the insider now directly owns 17,524 shares of the company’s stock, valued at $2,079,923.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of Electronic Arts stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $126.29, for a total transaction of $101,032.00. Following the transaction, the insider now directly owns 25,314 shares of the company’s stock, valued at $3,196,905.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Bruzzo sold 2,000 shares of Electronic Arts stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $118.69, for a total transaction of $237,380.00. Following the transaction, the insider now directly owns 17,524 shares in the company, valued at $2,079,923.56. The disclosure for this sale can be found here. Insiders have sold 38,960 shares of company stock valued at $4,911,038 over the last three months. 0.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Electronic Arts

Several large investors have recently modified their holdings of the stock. Northern Oak Wealth Management Inc. purchased a new position in Electronic Arts in the 2nd quarter worth about $25,000. Ameliora Wealth Management Ltd. purchased a new position in Electronic Arts in the 3rd quarter worth about $29,000. MCF Advisors LLC raised its position in Electronic Arts by 2,500.0% in the 3rd quarter. MCF Advisors LLC now owns 260 shares of the game software company’s stock worth $30,000 after buying an additional 250 shares during the last quarter. Neo Ivy Capital Management raised its position in Electronic Arts by 70.1% in the 2nd quarter. Neo Ivy Capital Management now owns 262 shares of the game software company’s stock worth $31,000 after buying an additional 108 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in Electronic Arts in the 3rd quarter worth about $32,000. Hedge funds and other institutional investors own 90.65% of the company’s stock.

About Electronic Arts

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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.