Van ECK Associates Corp Raises Stock Holdings in GameStop Corp. (NYSE:GME)

Van ECK Associates Corp raised its stake in GameStop Corp. (NYSE:GME - Free Report) by 8.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,825,837 shares of the company's stock after buying an additional 136,785 shares during the period. Van ECK Associates Corp owned approximately 0.52% of GameStop worth $41,866,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. raised its position in shares of GameStop by 535.8% in the third quarter. UMB Bank n.a. now owns 1,138 shares of the company's stock valued at $26,000 after buying an additional 959 shares during the last quarter. AlphaMark Advisors LLC boosted its holdings in GameStop by 41.7% in the 2nd quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company's stock worth $33,000 after acquiring an additional 396 shares during the period. Centerpoint Advisors LLC acquired a new stake in GameStop during the 2nd quarter valued at $47,000. GAMMA Investing LLC increased its position in shares of GameStop by 32.9% during the second quarter. GAMMA Investing LLC now owns 2,064 shares of the company's stock worth $51,000 after acquiring an additional 511 shares during the last quarter. Finally, CWM LLC increased its holdings in GameStop by 115.6% during the 2nd quarter. CWM LLC now owns 2,660 shares of the company's stock worth $66,000 after purchasing an additional 1,426 shares during the last quarter. 29.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, General Counsel Mark Haymond Robinson sold 4,667 shares of the business's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total value of $102,487.32. Following the sale, the general counsel now directly owns 54,927 shares of the company's stock, valued at approximately $1,206,196.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Daniel William Moore sold 2,624 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $21.00, for a total value of $55,104.00. Following the completion of the transaction, the insider now owns 32,280 shares of the company's stock, valued at approximately $677,880. This represents a 0.00 % decrease 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, General Counsel Mark Haymond Robinson sold 4,667 shares of the business's stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total transaction of $102,487.32. Following the completion of the sale, the general counsel now directly owns 54,927 shares in the company, valued at approximately $1,206,196.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,639 shares of company stock valued at $481,000 over the last ninety days. Insiders own 12.28% of the company's stock.

Wall Street Analyst Weigh In

GME has been the subject of a number of research reports. Wedbush decreased their price objective on shares of GameStop from $11.00 to $10.00 and set an "underperform" rating for the company in a report on Wednesday, September 11th. StockNews.com raised GameStop to a "sell" rating in a research note on Saturday, October 19th.

GameStop Trading Down 0.4 %

GME stock traded down $0.08 during mid-day trading on Monday, hitting $22.33. The stock had a trading volume of 4,255,104 shares, compared to its average volume of 19,671,320. The company has a fifty day moving average of $21.61 and a 200 day moving average of $22.36. GameStop Corp. has a 1-year low of $9.95 and a 1-year high of $64.83. The stock has a market capitalization of $9.52 billion, a price-to-earnings ratio of 172.40 and a beta of -0.13.

GameStop (NYSE:GME - Get Free Report) last posted its quarterly earnings results on Tuesday, September 10th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.09. The company had revenue of $798.30 million for the quarter, compared to analyst estimates of $895.67 million. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The business's quarterly revenue was down 31.4% on a year-over-year basis. During the same period last year, the business posted ($0.03) EPS. As a group, sell-side analysts expect that GameStop Corp. will post 0.01 earnings per share 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.