Vanguard Group Inc. Buys 2,036,032 Shares of GameStop Corp. (NYSE:GME)

Vanguard Group Inc. boosted its position in shares of GameStop Corp. (NYSE:GME - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,144,063 shares of the company's stock after purchasing an additional 2,036,032 shares during the period. Vanguard Group Inc. owned about 8.76% of GameStop worth $1,226,775,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. New Wave Wealth Advisors LLC acquired a new stake in GameStop in the 4th quarter valued at $37,000. R Squared Ltd acquired a new stake in shares of GameStop in the fourth quarter valued at about $51,000. UMB Bank n.a. raised its holdings in GameStop by 59.9% during the fourth quarter. UMB Bank n.a. now owns 1,820 shares of the company's stock worth $57,000 after acquiring an additional 682 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in GameStop during the fourth quarter valued at approximately $99,000. Finally, GAMMA Investing LLC grew its stake in GameStop by 65.8% in the fourth quarter. GAMMA Investing LLC now owns 3,564 shares of the company's stock valued at $112,000 after purchasing an additional 1,414 shares in the last quarter. Institutional investors and hedge funds own 29.21% of the company's stock.

Insider Activity

In related news, General Counsel Mark Haymond Robinson sold 1,577 shares of the company's 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 sale, the general counsel now directly owns 42,350 shares in the company, valued at $1,315,814.50. This represents a 3.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Daniel William Moore sold 895 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $27,807.65. Following the sale, the insider now owns 31,385 shares of the company's stock, valued at approximately $975,131.95. The trade was a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.28% of the company's stock.

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GameStop Stock Performance

NYSE:GME traded down $0.75 during mid-day trading on Monday, reaching $20.98. 4,879,876 shares of the company's stock were exchanged, compared to its average volume of 19,980,414. The firm has a market capitalization of $9.37 billion, a PE ratio of 116.21 and a beta of -0.29. GameStop Corp. has a one year low of $9.95 and a one year high of $64.83. The business's fifty day simple moving average is $25.36 and its two-hundred day simple moving average is $25.69.

GameStop (NYSE:GME - Get Free Report) last announced its earnings results on Tuesday, March 25th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.09 by $0.21. The company had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.48 billion. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The business's revenue for the quarter was down 28.5% on a year-over-year basis. During the same period last year, the firm earned $0.21 earnings per share. As a group, equities research analysts forecast that GameStop Corp. will post 0.08 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GME. Wedbush reiterated an "underperform" rating and set a $10.00 price objective on shares of GameStop in a research note on Monday, March 24th. StockNews.com upgraded GameStop from a "sell" rating to a "hold" rating in a research note on Thursday.

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.