Geode Capital Management LLC Acquires 1,852,088 Shares of GameStop Corp. (NYSE:GME)

Geode Capital Management LLC raised its holdings in shares of GameStop Corp. (NYSE:GME - Free Report) by 41.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,278,680 shares of the company's stock after purchasing an additional 1,852,088 shares during the period. Geode Capital Management LLC owned approximately 1.47% of GameStop worth $144,009,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. boosted its stake in GameStop by 535.8% during the 3rd quarter. UMB Bank n.a. now owns 1,138 shares of the company's stock valued at $26,000 after purchasing an additional 959 shares during the last quarter. Centerpoint Advisors LLC purchased a new stake in GameStop during the 2nd quarter valued at $47,000. CWM LLC boosted its stake in GameStop by 115.6% during the 2nd quarter. CWM LLC now owns 2,660 shares of the company's stock valued at $66,000 after purchasing an additional 1,426 shares during the last quarter. Quest Partners LLC boosted its stake in GameStop by 7,156.5% during the 2nd quarter. Quest Partners LLC now owns 6,168 shares of the company's stock valued at $152,000 after purchasing an additional 6,083 shares during the last quarter. Finally, Centaurus Financial Inc. purchased a new stake in GameStop during the 3rd quarter valued at $171,000. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

GameStop Stock Performance

Shares of GME stock traded up $1.85 on Tuesday, reaching $31.29. The stock had a trading volume of 19,886,776 shares, compared to its average volume of 18,996,260. The stock has a market cap of $13.98 billion, a P/E ratio of 173.83 and a beta of -0.11. GameStop Corp. has a 1 year low of $9.95 and a 1 year high of $64.83. The company has a 50 day simple moving average of $25.34 and a 200 day simple moving average of $24.31.

GameStop (NYSE:GME - Get Free Report) last released its quarterly earnings results on Tuesday, December 10th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.03) by $0.09. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The firm had revenue of $860.30 million for the quarter, compared to the consensus estimate of $887.68 million. The firm's revenue for the quarter was down 20.2% on a year-over-year basis. On average, equities research analysts anticipate that GameStop Corp. will post 0.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the company. StockNews.com upgraded GameStop to a "sell" rating in a research note on Saturday, October 19th. Wedbush restated an "underperform" rating and issued a $10.00 price target on shares of GameStop in a research note on Friday, December 6th.

Insider Buying and Selling

In related news, 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 transaction, the insider now directly owns 37,280 shares of the company's stock, valued at approximately $818,668.80. This trade represents a 5.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Mark Haymond Robinson sold 11,000 shares of the firm's stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $20.82, for a total value of $229,020.00. Following the sale, the general counsel now directly owns 43,927 shares in the company, valued at approximately $914,560.14. This represents a 20.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,639 shares of company stock valued at $481,000. 12.28% of the stock is owned by company insiders.

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.