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

Charles Schwab Investment Management Inc. raised its position in GameStop Corp. (NYSE:GME - Free Report) by 22.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (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 about 0.82% of GameStop worth $80,322,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Van ECK Associates Corp raised its position in shares of GameStop by 8.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,825,837 shares of the company's stock valued at $41,866,000 after buying an additional 136,785 shares during the period. Renaissance Technologies LLC increased its stake in GameStop by 34.0% during the second quarter. Renaissance Technologies LLC now owns 1,347,136 shares of the company's stock worth $33,261,000 after acquiring an additional 342,178 shares during the last quarter. Swiss National Bank raised its position in GameStop by 46.0% in the third quarter. Swiss National Bank now owns 790,528 shares of the company's stock valued at $18,127,000 after purchasing an additional 249,100 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of GameStop in the 2nd quarter valued at $9,577,000. Finally, New York State Teachers Retirement System grew its holdings in shares of GameStop by 5.4% during the 3rd quarter. New York State Teachers Retirement System now owns 281,364 shares of the company's stock worth $6,452,000 after purchasing an additional 14,400 shares during the period. 29.21% of the stock is currently owned by institutional investors and hedge funds.

GameStop Stock Performance

Shares of GME traded up $0.56 during midday trading on Thursday, hitting $30.89. 12,895,064 shares of the stock were exchanged, compared to its average volume of 19,258,717. GameStop Corp. has a 52-week low of $9.95 and a 52-week high of $64.83. The stock has a fifty day simple moving average of $23.63 and a 200 day simple moving average of $24.06. The firm has a market cap of $13.17 billion, a P/E ratio of 237.63 and a beta of -0.13.

GameStop (NYSE:GME - Get Free Report) last announced its earnings results on Tuesday, September 10th. The company reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.09. The company had revenue of $798.30 million during the quarter, compared to analysts' expectations of $895.67 million. GameStop had a return on equity of 1.79% and a net margin of 0.93%. GameStop's revenue for the quarter was down 31.4% on a year-over-year basis. During the same period last year, the business posted ($0.03) EPS. As a group, equities research analysts forecast that GameStop Corp. will post 0.01 EPS for the current fiscal year.

Insider Activity at GameStop

In other news, insider Daniel William Moore sold 2,624 shares of the business's stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $21.00, for a total transaction of $55,104.00. Following the completion of the transaction, the insider now directly owns 32,280 shares of the company's stock, valued at approximately $677,880. The trade was a 7.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Mark Haymond Robinson sold 4,667 shares of the firm's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total transaction of $102,487.32. Following the completion of the sale, the general counsel now directly owns 54,927 shares in the company, valued at approximately $1,206,196.92. This trade represents a 7.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,639 shares of company stock worth $481,000. Corporate insiders own 12.28% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GME shares. StockNews.com upgraded shares of GameStop to a "sell" rating in a report on Saturday, October 19th. Wedbush reduced 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 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.