GameStop Corp. (NYSE:GME) Position Boosted by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of GameStop Corp. (NYSE:GME - Free Report) by 6.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,659,234 shares of the company's stock after acquiring an additional 380,554 shares during the quarter. Geode Capital Management LLC owned about 1.49% of GameStop worth $208,769,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of GME. Alliancebernstein L.P. raised its stake in GameStop by 7.2% during the fourth quarter. Alliancebernstein L.P. now owns 520,890 shares of the company's stock worth $16,325,000 after purchasing an additional 35,020 shares during the period. Pictet Asset Management Holding SA increased its holdings in shares of GameStop by 11.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 60,541 shares of the company's stock worth $1,897,000 after buying an additional 6,070 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of GameStop by 32.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company's stock worth $67,000 after buying an additional 520 shares during the period. Norges Bank acquired a new position in GameStop in the fourth quarter valued at $2,012,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in GameStop by 223.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company's stock valued at $31,000 after acquiring an additional 684 shares during the period. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

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

GameStop Price Performance

NYSE GME traded up $1.32 during trading hours on Friday, hitting $26.34. The company had a trading volume of 10,918,787 shares, compared to its average volume of 20,354,994. The firm's 50 day moving average is $24.51 and its 200 day moving average is $25.86. The company has a market capitalization of $11.78 billion, a price-to-earnings ratio of 146.35 and a beta of -0.44. GameStop Corp. has a fifty-two week low of $9.95 and a fifty-two week high of $64.83.

GameStop (NYSE:GME - Get Free Report) last posted its earnings results 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. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.48 billion. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The company's revenue for the quarter was down 28.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share. On average, equities analysts anticipate that GameStop Corp. will post 0.08 EPS for the current year.

Insider Transactions at GameStop

In other GameStop news, Director Alain Attal purchased 10,000 shares of the business's stock in a transaction that occurred on Thursday, April 10th. The shares were acquired at an average price of $25.75 per share, for a total transaction of $257,500.00. Following the completion of the purchase, the director now owns 572,464 shares in the company, valued at $14,740,948. The trade was a 1.78 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Cohen purchased 500,000 shares of GameStop stock in a transaction that occurred on Thursday, April 3rd. The stock was acquired at an average cost of $21.55 per share, with a total value of $10,775,000.00. Following the acquisition, the chief executive officer now directly owns 37,347,842 shares of the company's stock, valued at $804,845,995.10. The trade was a 1.36 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 515,000 shares of company stock valued at $11,140,200. Corporate insiders own 12.28% of the company's stock.

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.