Cim Investment Management Inc. Has $374,000 Stock Holdings in Electronic Arts Inc. (NASDAQ:EA)

Cim Investment Management Inc. lessened its stake in Electronic Arts Inc. (NASDAQ:EA) by 4.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,610 shares of the game software company’s stock after selling 110 shares during the quarter. Cim Investment Management Inc.’s holdings in Electronic Arts were worth $374,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of EA. Huntington National Bank raised its stake in shares of Electronic Arts by 983.4% during the 3rd quarter. Huntington National Bank now owns 257,902 shares of the game software company’s stock worth $36,993,000 after purchasing an additional 234,098 shares during the period. Greenwood Capital Associates LLC purchased a new stake in Electronic Arts during the third quarter worth about $5,597,000. Dai ichi Life Insurance Company Ltd raised its position in Electronic Arts by 20.8% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 64,170 shares of the game software company’s stock worth $9,205,000 after acquiring an additional 11,058 shares during the period. Chesapeake Capital Corp IL purchased a new position in Electronic Arts in the third quarter valued at about $950,000. Finally, Assenagon Asset Management S.A. grew its position in shares of Electronic Arts by 206.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 81,679 shares of the game software company’s stock valued at $11,380,000 after acquiring an additional 55,020 shares during the period. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Electronic Arts Stock Performance

EA stock opened at $162.59 on Friday. The stock has a market capitalization of $42.64 billion, a PE ratio of 41.80, a price-to-earnings-growth ratio of 2.14 and a beta of 0.79. The stock’s 50 day simple moving average is $155.72 and its 200 day simple moving average is $147.22. Electronic Arts Inc. has a 12-month low of $124.92 and a 12-month high of $168.50. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.19 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.76 annualized dividend and a dividend yield of 0.47%. Electronic Arts’s payout ratio is 19.54%.

Insider Activity

In other news, insider Vijayanthimala Singh sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $143.24, for a total transaction of $143,240.00. Following the completion of the sale, the insider now owns 29,190 shares of the company’s stock, valued at $4,181,175.60. This represents a 3.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jacob J. Schatz sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $146.58, for a total transaction of $219,870.00. Following the completion of the transaction, the executive vice president now directly owns 26,360 shares in the company, valued at approximately $3,863,848.80. The trade was a 5.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,000 shares of company stock valued at $3,086,270 over the last three months. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

EA has been the topic of a number of recent analyst reports. StockNews.com raised shares of Electronic Arts from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st. Argus lifted their price target on Electronic Arts from $161.00 to $183.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Roth Mkm lifted their price objective on shares of Electronic Arts from $154.00 to $158.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Morgan Stanley reiterated an “equal weight” rating and issued a $150.00 price objective on shares of Electronic Arts in a report on Wednesday, September 18th. Finally, Wedbush reissued an “outperform” rating and set a $170.00 price target on shares of Electronic Arts in a research note on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $165.37.

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.