Algert Global LLC lifted its position in shares of GameStop Corp. (NYSE:GME - Free Report) by 270.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 150,526 shares of the company's stock after purchasing an additional 109,900 shares during the quarter. Algert Global LLC's holdings in GameStop were worth $3,452,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in GameStop by 22.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,502,910 shares of the company's stock valued at $80,322,000 after purchasing an additional 646,488 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of GameStop by 8.1% in the third quarter. Van ECK Associates Corp now owns 1,825,837 shares of the company's stock valued at $41,866,000 after purchasing an additional 136,785 shares in the last quarter. Renaissance Technologies LLC raised its holdings 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 in the last quarter. Swiss National Bank raised its stake 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 buying an additional 249,100 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of GameStop in the second quarter valued at approximately $9,577,000. Institutional investors and hedge funds own 29.21% of the company's stock.
GameStop Stock Performance
GME stock traded up $0.66 during midday trading on Tuesday, reaching $30.33. 24,341,621 shares of the company's stock traded hands, compared to its average volume of 19,284,998. The company has a 50-day moving average price of $22.97 and a two-hundred day moving average price of $23.87. GameStop Corp. has a 52 week low of $9.95 and a 52 week high of $64.83. The firm has a market capitalization of $12.94 billion, a PE ratio of 233.31 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 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.09. The company had revenue of $798.30 million during the quarter, compared to analyst estimates of $895.67 million. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The firm's quarterly revenue was down 31.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.03) earnings per share. As a group, analysts predict that GameStop Corp. will post 0.01 EPS for the current fiscal year.
Insider Buying and Selling
In other news, insider Daniel William Moore sold 2,376 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $21.50, for a total transaction of $51,084.00. Following the transaction, the insider now directly owns 34,904 shares in the company, valued at approximately $750,436. This trade represents a 6.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 owns 54,927 shares of the company's stock, valued at approximately $1,206,196.92. This trade represents a 7.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,639 shares of company stock worth $481,000 in the last three months. Insiders own 12.28% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the company. Wedbush reduced their target price on GameStop from $11.00 to $10.00 and set an "underperform" rating on the stock in a report on Wednesday, September 11th. StockNews.com upgraded GameStop to a "sell" rating in a research note on Saturday, October 19th.
View Our Latest Research Report on GameStop
GameStop Profile
(
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.
Featured Stories
Before you consider GameStop, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and GameStop wasn't on the list.
While GameStop currently has a "Sell" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
