Foundations Investment Advisors LLC purchased a new stake in GameStop Corp. (NYSE:GME - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 28,008 shares of the company's stock, valued at approximately $878,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its holdings in GameStop by 38.0% in the third quarter. State Street Corp now owns 11,143,759 shares of the company's stock valued at $255,526,000 after buying an additional 3,070,571 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of GameStop by 41.8% in the 3rd quarter. Geode Capital Management LLC now owns 6,278,680 shares of the company's stock valued at $144,009,000 after acquiring an additional 1,852,088 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of GameStop by 22.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,502,910 shares of the company's stock worth $80,322,000 after acquiring an additional 646,488 shares in the last quarter. Van ECK Associates Corp lifted its stake in GameStop by 8.1% during the third quarter. Van ECK Associates Corp now owns 1,825,837 shares of the company's stock worth $41,866,000 after purchasing an additional 136,785 shares during the last quarter. Finally, Swiss National Bank lifted its stake in GameStop by 46.0% during the third quarter. Swiss National Bank now owns 790,528 shares of the company's stock worth $18,127,000 after purchasing an additional 249,100 shares during the last quarter. Hedge funds and other institutional investors own 29.21% of the company's stock.
Insider Activity at GameStop
In other news, General Counsel Mark Haymond Robinson sold 1,577 shares of the business's stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $48,997.39. Following the transaction, the general counsel now owns 42,350 shares of the company's stock, valued at approximately $1,315,814.50. The trade was a 3.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel William Moore sold 895 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $27,807.65. Following the sale, the insider now directly owns 31,385 shares of the company's stock, valued at approximately $975,131.95. This represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.28% of the stock is owned by insiders.
GameStop Trading Down 3.3 %
Shares of GameStop stock traded down $0.94 on Friday, hitting $27.05. The stock had a trading volume of 4,462,929 shares, compared to its average volume of 6,364,084. The stock has a market cap of $12.09 billion, a price-to-earnings ratio of 150.31 and a beta of -0.02. GameStop Corp. has a 52-week low of $9.95 and a 52-week high of $64.83. The company's 50 day moving average price is $29.53 and its 200 day moving average price is $25.10.
GameStop (NYSE:GME - Get Free Report) last issued 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 analysts' expectations of $887.68 million. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The company's quarterly revenue was down 20.2% on a year-over-year basis. Analysts predict that GameStop Corp. will post 0.08 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research firms have weighed in on GME. StockNews.com raised shares of GameStop to a "sell" rating in a report on Saturday, October 19th. Wedbush reaffirmed an "underperform" rating and issued a $10.00 target price on shares of GameStop in a research report on Friday, December 6th.
Read Our Latest Report on GME
About GameStop
(
Free Report)
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.
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