Electronic Arts (NASDAQ:EA) Cut to “Market Perform” at BMO Capital Markets

BMO Capital Markets lowered shares of Electronic Arts (NASDAQ:EA) from an outperform rating to a market perform rating in a report released on Thursday, MarketBeat reports. They currently have $145.00 price target on the game software company’s stock, down from their prior price target of $160.00.

EA has been the subject of several other research reports. UBS Group raised their target price on shares of Electronic Arts from $155.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Robert W. Baird raised their price objective on shares of Electronic Arts from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Roth Mkm upped their target price on Electronic Arts from $154.00 to $158.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. DZ Bank upgraded Electronic Arts from a “hold” rating to a “buy” rating and increased their price target for the stock from $135.00 to $177.00 in a report on Thursday, October 31st. Finally, Oppenheimer dropped their price objective on Electronic Arts from $170.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday, January 21st. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Electronic Arts currently has a consensus rating of “Moderate Buy” and an average price target of $159.79.

Electronic Arts Price Performance

Shares of Electronic Arts stock opened at $116.56 on Thursday. The stock has a market cap of $30.57 billion, a price-to-earnings ratio of 29.96, a price-to-earnings-growth ratio of 1.87 and a beta of 0.80. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a 50 day moving average price of $152.43 and a 200-day moving average price of $148.88. Electronic Arts has a one year low of $115.21 and a one year high of $168.50.

Electronic Arts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th were given a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.65%. Electronic Arts’s payout ratio is presently 19.54%.

Insider Activity at Electronic Arts

In other Electronic Arts news, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction on Friday, November 1st. The shares were sold at an average price of $150.83, for a total value of $150,830.00. Following the transaction, the insider now directly owns 28,190 shares of the company’s stock, valued at approximately $4,251,897.70. The trade was a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $166.47, for a total value of $832,350.00. Following the sale, the chief executive officer now owns 52,615 shares of the company’s stock, valued at approximately $8,758,819.05. This represents a 8.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,000 shares of company stock valued at $3,986,385 over the last ninety days. 0.22% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC purchased a new stake in shares of Electronic Arts during the third quarter worth about $25,000. Pinnacle Bancorp Inc. boosted its stake in Electronic Arts by 141.0% in the 4th quarter. Pinnacle Bancorp Inc. now owns 200 shares of the game software company’s stock worth $29,000 after purchasing an additional 117 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in Electronic Arts during the 3rd quarter worth approximately $36,000. Bruce G. Allen Investments LLC increased its stake in Electronic Arts by 156.6% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 272 shares of the game software company’s stock valued at $39,000 after purchasing an additional 166 shares in the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of Electronic Arts by 31.8% in the third quarter. Larson Financial Group LLC now owns 290 shares of the game software company’s stock worth $42,000 after buying an additional 70 shares during the last quarter. 90.23% of the stock is owned by institutional investors and hedge funds.

About Electronic Arts

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.