Bank of New York Mellon Corp Has $80.40 Million Position in GameStop Corp. (NYSE:GME)

Bank of New York Mellon Corp lifted its stake in GameStop Corp. (NYSE:GME - Free Report) by 2.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,565,455 shares of the company's stock after purchasing an additional 60,673 shares during the quarter. Bank of New York Mellon Corp owned 0.57% of GameStop worth $80,401,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. New Wave Wealth Advisors LLC acquired a new position in shares of GameStop in the fourth quarter worth about $37,000. R Squared Ltd purchased a new stake in shares of GameStop in the 4th quarter valued at approximately $51,000. UMB Bank n.a. boosted its stake in GameStop by 59.9% in the 4th quarter. UMB Bank n.a. now owns 1,820 shares of the company's stock worth $57,000 after purchasing an additional 682 shares during the period. GAMMA Investing LLC grew its position in GameStop by 65.8% during the 4th quarter. GAMMA Investing LLC now owns 3,564 shares of the company's stock worth $112,000 after purchasing an additional 1,414 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in GameStop during the 4th quarter valued at $130,000. Hedge funds and other institutional investors own 29.21% of the company's stock.

Insiders Place Their Bets

In other news, insider Daniel William Moore sold 895 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction of $27,807.65. Following the transaction, the insider now owns 31,385 shares in the company, valued at $975,131.95. This represents a 2.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of the firm's stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction of $48,997.39. Following the transaction, the general counsel now owns 42,350 shares in the company, valued at $1,315,814.50. This represents a 3.59 % decrease in their position. The disclosure for this sale can be found here. Insiders own 12.28% of the company's stock.

GameStop Stock Down 0.8 %

Shares of GME traded down $0.19 during trading hours on Tuesday, reaching $24.21. The company's stock had a trading volume of 2,874,242 shares, compared to its average volume of 19,298,672. The company has a 50 day moving average of $28.15 and a two-hundred day moving average of $25.50. The firm has a market cap of $10.82 billion, a price-to-earnings ratio of 134.35 and a beta of -0.11. GameStop Corp. has a 1-year low of $9.95 and a 1-year high of $64.83.

GameStop (NYSE:GME - Get Free Report) last released its quarterly earnings data on Tuesday, December 10th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.09. The firm had revenue of $860.30 million for the quarter, compared to analyst estimates of $887.68 million. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The company's quarterly revenue was down 20.2% on a year-over-year basis. As a group, analysts forecast that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Wedbush reaffirmed an "underperform" rating and issued a $10.00 target price on shares of GameStop in a research report on Friday, December 6th.

GameStop 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.