Alliancebernstein L.P. Purchases 35,020 Shares of GameStop Corp. (NYSE:GME)

Alliancebernstein L.P. grew its stake in GameStop Corp. (NYSE:GME - Free Report) by 7.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 520,890 shares of the company's stock after purchasing an additional 35,020 shares during the quarter. Alliancebernstein L.P. owned approximately 0.12% of GameStop worth $16,325,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. State Street Corp increased its position in GameStop by 38.0% during the third quarter. State Street Corp now owns 11,143,759 shares of the company's stock worth $255,526,000 after acquiring an additional 3,070,571 shares during the period. Vanguard Group Inc. raised its position in shares of GameStop by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 39,144,063 shares of the company's stock valued at $1,226,775,000 after buying an additional 2,036,032 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of GameStop by 41.8% in the third quarter. Geode Capital Management LLC now owns 6,278,680 shares of the company's stock valued at $144,009,000 after buying an additional 1,852,088 shares during the period. JPMorgan Chase & Co. increased its stake in GameStop by 46.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,096 shares of the company's stock worth $17,750,000 after acquiring an additional 244,339 shares during the period. Finally, Amundi bought a new stake in shares of GameStop during the 4th quarter valued at $5,332,000. Institutional investors and hedge funds own 29.21% of the company's stock.

GameStop Price Performance

Shares of GME stock traded up $0.57 on Monday, hitting $26.97. 2,443,522 shares of the company's stock were exchanged, compared to its average volume of 20,355,447. The company has a 50 day moving average of $24.51 and a 200 day moving average of $25.89. The stock has a market cap of $12.06 billion, a P/E ratio of 149.85 and a beta of -0.44. GameStop Corp. has a 12 month low of $9.95 and a 12 month high of $64.83.

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GameStop (NYSE:GME - Get Free Report) last posted its earnings results on Tuesday, March 25th. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.21. The firm had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.48 billion. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The business's revenue for the quarter was down 28.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 earnings per share. Sell-side analysts predict that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GME shares. Wedbush set a $11.50 price objective on shares of GameStop in a research report on Wednesday, March 26th. StockNews.com upgraded shares of GameStop from a "sell" rating to a "hold" rating in a research report on Thursday, March 27th.

Insider Activity

In other GameStop news, insider Daniel William Moore sold 1,608 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total value of $36,228.24. Following the completion of the transaction, the insider now directly owns 29,777 shares in the company, valued at approximately $670,875.81. This represents a 5.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alain Attal purchased 10,000 shares of the business's stock in a transaction dated Thursday, April 10th. The shares were acquired at an average price of $25.75 per share, for a total transaction of $257,500.00. Following the acquisition, the director now owns 572,464 shares of the company's stock, valued at $14,740,948. This trade represents a 1.78 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 515,000 shares of company stock worth $11,140,200. Insiders own 12.28% of the company's stock.

GameStop Company Profile

GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, and virtual reality products; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.