Bank of New York Mellon Corp Boosts Holdings in GameStop Corp. (NYSE:GME)

Bank of New York Mellon Corp boosted its position in GameStop Corp. (NYSE:GME - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 approximately 0.57% of GameStop worth $80,401,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GME. Charles Schwab Investment Management Inc. increased its position in GameStop by 22.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,502,910 shares of the company's stock valued at $80,322,000 after acquiring an additional 646,488 shares during the last quarter. Foundations Investment Advisors LLC bought a new position in shares of GameStop during the 4th quarter valued at approximately $878,000. Swiss National Bank grew its position in GameStop by 46.0% in the third quarter. Swiss National Bank now owns 790,528 shares of the company's stock worth $18,127,000 after acquiring an additional 249,100 shares in the last quarter. Algert Global LLC increased its position in shares of GameStop by 270.5% during the 3rd quarter. Algert Global LLC now owns 150,526 shares of the company's stock valued at $3,452,000 after purchasing an additional 109,900 shares during the last quarter. Finally, Retirement Systems of Alabama raised its stake in shares of GameStop by 41.7% in the third quarter. Retirement Systems of Alabama now owns 471,156 shares of the company's stock valued at $10,804,000 after acquiring an additional 138,597 shares during the period. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

GameStop Stock Performance

GME stock traded down $0.64 during midday trading on Thursday, reaching $24.43. The company's stock had a trading volume of 2,037,033 shares, compared to its average volume of 6,055,959. The firm has a market capitalization of $10.92 billion, a price-to-earnings ratio of 135.73 and a beta of -0.11. GameStop Corp. has a 1 year low of $9.95 and a 1 year high of $64.83. The stock has a fifty day simple moving average of $27.89 and a two-hundred day simple moving average of $25.51.

GameStop (NYSE:GME - Get Free Report) last announced its quarterly earnings data on Tuesday, December 10th. The company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.09. The company had revenue of $860.30 million during 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 business's revenue was down 20.2% compared to the same quarter last year. 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 set a $10.00 target price on shares of GameStop in a research note on Friday, December 6th.

Insider Activity at GameStop

In other GameStop news, insider Daniel William Moore sold 895 shares of the stock in a transaction dated 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 directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of the firm's stock in a transaction dated 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 directly owns 42,350 shares in the company, valued at $1,315,814.50. This trade represents a 3.59 % decrease in their position. The disclosure for this sale can be found here. 12.28% of the stock is owned by company insiders.

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.