Invesco Ltd. Acquires 33,596 Shares of GameStop Corp. (NYSE:GME)

Invesco Ltd. grew its holdings in shares of GameStop Corp. (NYSE:GME - Free Report) by 6.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 585,757 shares of the company's stock after buying an additional 33,596 shares during the period. Invesco Ltd. owned 0.13% of GameStop worth $18,358,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GME. Wells Fargo & Company MN lifted its position in shares of GameStop by 42.2% in the 4th quarter. Wells Fargo & Company MN now owns 5,722 shares of the company's stock worth $179,000 after purchasing an additional 1,698 shares during the period. Motley Fool Asset Management LLC bought a new stake in GameStop during the 4th quarter valued at approximately $206,000. Geode Capital Management LLC grew its holdings in shares of GameStop by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 6,659,234 shares of the company's stock worth $208,769,000 after acquiring an additional 380,554 shares during the period. Alliancebernstein L.P. raised its position in shares of GameStop by 7.2% in the 4th quarter. Alliancebernstein L.P. now owns 520,890 shares of the company's stock worth $16,325,000 after acquiring an additional 35,020 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in GameStop by 11.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 60,541 shares of the company's stock worth $1,897,000 after purchasing an additional 6,070 shares during the period. Institutional investors own 29.21% of the company's stock.

Insider Activity

In related news, CEO Ryan Cohen acquired 500,000 shares of GameStop stock in a transaction dated Thursday, April 3rd. The stock was purchased at an average cost of $21.55 per share, for a total transaction of $10,775,000.00. Following the purchase, the chief executive officer now directly owns 37,347,842 shares of the company's stock, valued at approximately $804,845,995.10. This trade represents a 1.36 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Mark Haymond Robinson sold 4,687 shares of GameStop stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total value of $105,598.11. Following the transaction, the general counsel now owns 37,663 shares in the company, valued at $848,547.39. This trade represents a 11.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired 515,000 shares of company stock valued at $11,140,200 in the last quarter. 12.28% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

GameStop Stock Up 2.1 %

Shares of GameStop stock opened at $26.81 on Friday. GameStop Corp. has a twelve month low of $10.01 and a twelve month high of $64.83. The company has a market cap of $11.99 billion, a price-to-earnings ratio of 148.95 and a beta of -0.44. The company's 50 day moving average is $24.62 and its 200 day moving average is $26.02.

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

GameStop 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.

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