MetLife Investment Management LLC Grows Position in GameStop Corp. (NYSE:GME)

MetLife Investment Management LLC boosted its stake in shares of GameStop Corp. (NYSE:GME - Free Report) by 14.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 228,806 shares of the company's stock after purchasing an additional 28,572 shares during the period. MetLife Investment Management LLC owned approximately 0.05% of GameStop worth $7,171,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GME. CIBC Asset Management Inc raised its position in shares of GameStop by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 9,381 shares of the company's stock worth $294,000 after buying an additional 502 shares during the period. Christensen King & Associates Investment Services Inc. raised its holdings in shares of GameStop by 1.9% in the 4th quarter. Christensen King & Associates Investment Services Inc. now owns 27,397 shares of the company's stock worth $853,000 after purchasing an additional 518 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake 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 valued at $67,000 after purchasing an additional 520 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of GameStop by 2.9% during the 4th quarter. Crossmark Global Holdings Inc. now owns 18,338 shares of the company's stock worth $575,000 after purchasing an additional 523 shares during the period. Finally, Securian Asset Management Inc. increased its position in GameStop by 1.8% during the 4th quarter. Securian Asset Management Inc. now owns 30,717 shares of the company's stock worth $963,000 after purchasing an additional 557 shares in the last quarter. Institutional investors and hedge funds own 29.21% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on GME shares. Wedbush set a $11.50 price target on shares of GameStop in a research report 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.

GameStop Stock Performance

Shares of NYSE:GME opened at $27.77 on Wednesday. The business's 50-day simple moving average is $24.66 and its 200 day simple moving average is $26.10. The company has a market cap of $12.41 billion, a P/E ratio of 154.27 and a beta of -0.44. GameStop Corp. has a one year low of $10.01 and a one year high of $64.83.

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

Insiders Place Their Bets

In related news, Director Alain Attal purchased 10,000 shares of the company's stock in a transaction that occurred on Thursday, April 10th. The stock was 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 approximately $14,740,948. This represents a 1.78 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Cohen purchased 500,000 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The stock was bought at an average cost of $21.55 per share, for a total transaction of $10,775,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,347,842 shares of the company's stock, valued at $804,845,995.10. This represents a 1.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 515,000 shares of company stock worth $11,140,200 in the last quarter. 12.28% of the stock is owned by corporate insiders.

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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