Yakira Capital Management Inc. Invests $9.37 Million in Electronic Arts Inc. $EA

Yakira Capital Management Inc. purchased a new position in shares of Electronic Arts Inc. (NASDAQ:EA) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 45,870 shares of the game software company’s stock, valued at approximately $9,373,000. Electronic Arts makes up about 3.2% of Yakira Capital Management Inc.’s holdings, making the stock its 4th biggest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Greenland Capital Management LP purchased a new stake in shares of Electronic Arts during the third quarter worth about $5,569,000. Swiss Life Asset Management Ltd grew its holdings in shares of Electronic Arts by 75.8% during the third quarter. Swiss Life Asset Management Ltd now owns 85,245 shares of the game software company’s stock worth $17,194,000 after buying an additional 36,769 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Electronic Arts by 9.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 110,851 shares of the game software company’s stock worth $22,650,000 after buying an additional 9,297 shares in the last quarter. Barometer Capital Management Inc. purchased a new stake in shares of Electronic Arts during the third quarter worth about $4,503,000. Finally, Nordea Investment Management AB grew its holdings in shares of Electronic Arts by 33.6% during the fourth quarter. Nordea Investment Management AB now owns 227,893 shares of the game software company’s stock worth $46,554,000 after buying an additional 57,268 shares in the last quarter. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. Argus cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 18th. Finally, Citigroup raised their target price 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. Two investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Electronic Arts currently has an average rating of “Hold” and a consensus price target of $196.64.

Insider Activity at Electronic Arts

In other news, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $200.54, for a total transaction of $501,350.00. Following the sale, the insider owned 40,843 shares in the company, valued at $8,190,655.22. This trade represents a 5.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jacob J. Schatz sold 5,000 shares of Electronic Arts stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $201.19, for a total transaction of $1,005,950.00. Following the sale, the executive vice president owned 42,287 shares in the company, valued at $8,507,721.53. This represents a 10.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 31,206 shares of company stock valued at $6,293,083. 0.24% of the stock is currently owned by corporate insiders.

Electronic Arts Stock Performance

NASDAQ EA opened at $203.27 on Monday. Electronic Arts Inc. has a one year low of $146.97 and a one year high of $204.88. The company’s 50 day moving average price is $202.23 and its 200 day moving average price is $202.37. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $50.97 billion, a price-to-earnings ratio of 58.24, a PEG ratio of 2.29 and a beta of 0.65.

Electronic Arts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 27th will be paid a dividend of $0.19 per share. The ex-dividend date is Wednesday, May 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.4%. Electronic Arts’s dividend payout ratio (DPR) is currently 21.78%.

Electronic Arts Company Profile

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.