Rhumbline Advisers Buys 42,793 Shares of GameStop Corp. (NYSE:GME)

Rhumbline Advisers lifted its holdings in shares of GameStop Corp. (NYSE:GME - Free Report) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,069,750 shares of the company's stock after purchasing an additional 42,793 shares during the quarter. Rhumbline Advisers owned 0.24% of GameStop worth $33,526,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in GameStop by 22.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,502,910 shares of the company's stock worth $80,322,000 after buying an additional 646,488 shares in the last quarter. Foundations Investment Advisors LLC bought a new stake in shares of GameStop during the 4th quarter worth $878,000. Swiss National Bank grew its position in GameStop by 46.0% in the third quarter. Swiss National Bank now owns 790,528 shares of the company's stock worth $18,127,000 after acquiring an additional 249,100 shares in the last quarter. Algert Global LLC increased its stake in GameStop by 270.5% in the third quarter. Algert Global LLC now owns 150,526 shares of the company's stock valued at $3,452,000 after acquiring an additional 109,900 shares during the last quarter. Finally, Retirement Systems of Alabama raised its position in GameStop by 41.7% during 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. 29.21% of the stock is currently owned by institutional investors.

Insider Activity

In other GameStop news, General Counsel Mark Haymond Robinson sold 1,577 shares of GameStop stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $48,997.39. Following the transaction, the general counsel now directly owns 42,350 shares of the company's stock, valued at $1,315,814.50. The trade was a 3.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel William Moore sold 895 shares of the 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 sale, the insider now directly owns 31,385 shares of the company's stock, valued at approximately $975,131.95. This trade represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. 12.28% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Wedbush reiterated an "underperform" rating and issued a $10.00 price objective on shares of GameStop in a report on Friday, December 6th.

GameStop Trading Down 2.3 %

Shares of GME stock traded down $0.63 during trading hours on Friday, hitting $26.41. 6,097,371 shares of the company's stock were exchanged, compared to its average volume of 6,508,039. The company has a market capitalization of $11.80 billion, a PE ratio of 146.71 and a beta of -0.11. GameStop Corp. has a 12-month low of $9.95 and a 12-month high of $64.83. The business's 50 day simple moving average is $28.80 and its 200-day simple moving average is $25.29.

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

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.