Charles Schwab Investment Management Inc. Raises Holdings in GameStop Corp. (NYSE:GME)

Charles Schwab Investment Management Inc. raised its holdings in GameStop Corp. (NYSE:GME - Free Report) by 22.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,502,910 shares of the company's stock after purchasing an additional 646,488 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.82% of GameStop worth $80,322,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its position in GameStop by 535.8% during the third quarter. UMB Bank n.a. now owns 1,138 shares of the company's stock valued at $26,000 after acquiring an additional 959 shares in the last quarter. AlphaMark Advisors LLC boosted its holdings in GameStop by 41.7% during the second quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company's stock worth $33,000 after buying an additional 396 shares in the last quarter. Centerpoint Advisors LLC acquired a new stake in GameStop during the second quarter valued at $47,000. GAMMA Investing LLC increased its holdings in GameStop by 32.9% in the second quarter. GAMMA Investing LLC now owns 2,064 shares of the company's stock valued at $51,000 after buying an additional 511 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of GameStop by 147.2% in the first quarter. Russell Investments Group Ltd. now owns 5,080 shares of the company's stock worth $65,000 after acquiring an additional 3,025 shares during the period. 29.21% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other GameStop news, General Counsel Mark Haymond Robinson sold 4,667 shares of the company's stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $102,487.32. Following the completion of the sale, the general counsel now directly owns 54,927 shares in the company, valued at $1,206,196.92. This represents a 7.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel William Moore sold 1,972 shares of the firm's stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $43,305.12. Following the completion of the sale, the insider now directly owns 37,280 shares of the company's stock, valued at $818,668.80. This trade represents a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,639 shares of company stock valued at $481,000 in the last 90 days. 12.28% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GME shares. StockNews.com raised GameStop to a "sell" rating in a report on Saturday, October 19th. Wedbush dropped their price target on shares of GameStop from $11.00 to $10.00 and set an "underperform" rating on the stock in a research note on Wednesday, September 11th.

GameStop Price Performance

GameStop stock traded up $0.56 during midday trading on Thursday, reaching $30.89. The company had a trading volume of 12,895,064 shares, compared to its average volume of 19,258,717. GameStop Corp. has a 12-month low of $9.95 and a 12-month high of $64.83. The firm's fifty day simple moving average is $23.40 and its 200-day simple moving average is $24.01. The company has a market capitalization of $13.17 billion, a P/E ratio of 237.63 and a beta of -0.13.

GameStop (NYSE:GME - Get Free Report) last released its earnings results on Tuesday, September 10th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.09. GameStop had a return on equity of 1.79% and a net margin of 0.93%. The business had revenue of $798.30 million for the quarter, compared to the consensus estimate of $895.67 million. During the same quarter last year, the business posted ($0.03) earnings per share. The business's quarterly revenue was down 31.4% compared to the same quarter last year. On average, analysts expect that GameStop Corp. will post 0.01 EPS for the current fiscal year.

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.