State Street Corp Grows Stock Holdings in GameStop Corp. (NYSE:GME)

State Street Corp lifted its stake in GameStop Corp. (NYSE:GME - Free Report) by 38.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,143,759 shares of the company's stock after buying an additional 3,070,571 shares during the quarter. State Street Corp owned approximately 2.61% of GameStop worth $255,526,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GME. Charles Schwab Investment Management Inc. increased its holdings in GameStop by 22.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,502,910 shares of the company's stock valued at $80,322,000 after buying an additional 646,488 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of GameStop by 8.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,825,837 shares of the company's stock valued at $41,866,000 after purchasing an additional 136,785 shares in the last quarter. Renaissance Technologies LLC raised its holdings in GameStop by 34.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,347,136 shares of the company's stock worth $33,261,000 after purchasing an additional 342,178 shares during the period. Swiss National Bank boosted its position in GameStop by 46.0% during the third quarter. Swiss National Bank now owns 790,528 shares of the company's stock worth $18,127,000 after purchasing an additional 249,100 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in GameStop by 16.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 728,686 shares of the company's stock valued at $16,709,000 after purchasing an additional 100,430 shares during the period. 29.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other GameStop news, insider Daniel William Moore sold 1,972 shares of GameStop stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $43,305.12. Following the sale, the insider now owns 37,280 shares in the company, valued at $818,668.80. The trade was a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Mark Haymond Robinson sold 4,667 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total value of $102,487.32. Following the transaction, the general counsel now owns 54,927 shares of the company's stock, valued at approximately $1,206,196.92. This represents a 7.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,639 shares of company stock valued at $481,000. 12.28% of the stock is currently owned by insiders.

GameStop Stock Down 0.9 %

GME traded down $0.26 during trading on Thursday, reaching $28.71. The company's stock had a trading volume of 8,811,478 shares, compared to its average volume of 19,086,908. The company has a market cap of $12.25 billion, a price-to-earnings ratio of 159.50 and a beta of -0.11. The firm has a fifty day simple moving average of $24.82 and a two-hundred day simple moving average of $24.11. GameStop Corp. has a 1 year low of $9.95 and a 1 year high of $64.83.

GameStop (NYSE:GME - Get Free Report) last announced its quarterly earnings data on Tuesday, December 10th. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.09. The firm had revenue of $860.30 million for the quarter, compared to the consensus estimate of $887.68 million. GameStop had a return on equity of 1.79% and a net margin of 0.93%. The business's revenue was down 20.2% on a year-over-year basis. As a group, equities analysts forecast that GameStop Corp. will post 0.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GME. StockNews.com upgraded GameStop to a "sell" rating in a research report on Saturday, October 19th. Wedbush reiterated an "underperform" rating and issued a $10.00 target price on shares of GameStop in a research report on Friday, December 6th.

GameStop Company 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.