JPMorgan Chase & Co. Sells 95,663 Shares of GameStop Corp. (NYSE:GME)

JPMorgan Chase & Co. lessened its position in GameStop Corp. (NYSE:GME - Free Report) by 12.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 678,433 shares of the company's stock after selling 95,663 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.15% of GameStop worth $21,262,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of GME. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in GameStop by 223.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company's stock valued at $31,000 after purchasing an additional 684 shares in the last quarter. New Wave Wealth Advisors LLC bought a new position in shares of GameStop in the 4th quarter valued at about $37,000. R Squared Ltd acquired a new stake in shares of GameStop in the fourth quarter valued at about $51,000. UMB Bank n.a. raised its holdings in GameStop by 59.9% during the fourth quarter. UMB Bank n.a. now owns 1,820 shares of the company's stock worth $57,000 after acquiring an additional 682 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in GameStop during the fourth quarter valued at approximately $99,000. Institutional investors own 29.21% of the company's stock.

GameStop Price Performance

NYSE:GME traded up $1.32 during trading hours on Friday, reaching $26.34. 10,918,787 shares of the company were exchanged, compared to its average volume of 20,423,556. The business has a 50 day moving average of $24.51 and a 200 day moving average of $25.86. GameStop Corp. has a 1-year low of $9.95 and a 1-year high of $64.83. The company has a market capitalization of $11.78 billion, a P/E ratio of 146.35 and a beta of -0.44.

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GameStop (NYSE:GME - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.21. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The business had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.48 billion. During the same period last year, the firm posted $0.21 earnings per share. The firm's quarterly revenue was down 28.5% compared to the same quarter last year. As a group, equities research analysts anticipate that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Wedbush set a $11.50 price objective on GameStop in a research note on Wednesday, March 26th. StockNews.com raised shares of GameStop from a "sell" rating to a "hold" rating in a research report on Thursday, March 27th.

Insider Buying and Selling

In other news, General Counsel Mark Haymond Robinson sold 4,687 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total transaction of $105,598.11. Following the completion of the transaction, the general counsel now directly owns 37,663 shares in the company, valued at approximately $848,547.39. This represents a 11.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel William Moore sold 1,608 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total value of $36,228.24. Following the sale, the insider now directly owns 29,777 shares in the company, valued at approximately $670,875.81. This trade represents a 5.12 % decrease in their position. The disclosure for this sale can be found here. Insiders acquired a total of 515,000 shares of company stock worth $11,140,200 in the last ninety days. 12.28% of the stock is owned by insiders.

About GameStop

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.