GameStop Corp. (NYSE:GME) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in GameStop Corp. (NYSE:GME - Free Report) by 46.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 774,096 shares of the company's stock after acquiring an additional 244,339 shares during the period. JPMorgan Chase & Co. owned approximately 0.17% of GameStop worth $17,750,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GME. Retirement Systems of Alabama lifted its holdings in shares of GameStop by 41.7% in the third quarter. Retirement Systems of Alabama now owns 471,156 shares of the company's stock valued at $10,804,000 after purchasing an additional 138,597 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in GameStop in the 3rd quarter valued at approximately $230,000. Virtu Financial LLC acquired a new stake in GameStop during the 3rd quarter valued at $285,000. Geode Capital Management LLC increased its position in GameStop by 41.8% during the third quarter. Geode Capital Management LLC now owns 6,278,680 shares of the company's stock worth $144,009,000 after buying an additional 1,852,088 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of GameStop by 25.5% in the third quarter. Public Employees Retirement System of Ohio now owns 141,383 shares of the company's stock worth $3,242,000 after acquiring an additional 28,699 shares during the last quarter. 29.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on GME shares. StockNews.com upgraded GameStop to a "sell" rating in a research report on Saturday, October 19th. Wedbush reaffirmed an "underperform" rating and set a $10.00 price target on shares of GameStop in a research note on Friday, December 6th.

GameStop Price Performance

GME traded down $0.65 during trading on Friday, hitting $32.31. The company's stock had a trading volume of 7,039,559 shares, compared to its average volume of 9,126,976. GameStop Corp. has a twelve month low of $9.95 and a twelve month high of $64.83. The firm's 50 day moving average price is $28.96 and its 200-day moving average price is $24.80. The stock has a market cap of $14.44 billion, a PE ratio of 179.51 and a beta of -0.02.

GameStop (NYSE:GME - Get Free Report) last posted its quarterly earnings data on Tuesday, December 10th. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.09. The company had revenue of $860.30 million during the quarter, compared to the consensus estimate of $887.68 million. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The business's quarterly revenue was down 20.2% on a year-over-year basis. Equities analysts anticipate that GameStop Corp. will post 0.08 earnings per share for the current year.

Insider Activity at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 1,577 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $48,997.39. Following the transaction, the general counsel now owns 42,350 shares of the company's stock, valued at $1,315,814.50. This trade represents a 3.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Daniel William Moore sold 895 shares of the business's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total value of $27,807.65. Following the completion of the sale, the insider now owns 31,385 shares of the company's stock, valued at $975,131.95. This trade represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.