GameStop Corp. (NYSE:GME) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. raised its holdings in GameStop Corp. (NYSE:GME) by 5.5% during the 4th quarter, Holdings Channel reports. The firm owned 39,144,063 shares of the company’s stock after buying an additional 2,036,032 shares during the quarter. Vanguard Group Inc. owned approximately 0.09% of GameStop worth $1,226,775,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GME. Thrivent Financial for Lutherans grew its stake in GameStop by 40.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 91,868 shares of the company’s stock valued at $2,107,000 after acquiring an additional 26,259 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of 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 purchasing an additional 646,488 shares during the period. Centaurus Financial Inc. purchased a new stake in shares of GameStop during the third quarter worth about $171,000. The Manufacturers Life Insurance Company raised its position in shares of GameStop by 29.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 303,826 shares of the company’s stock worth $6,967,000 after purchasing an additional 69,340 shares during the last quarter. Finally, FMR LLC lifted its stake in GameStop by 7.2% in the 3rd quarter. FMR LLC now owns 41,408 shares of the company’s stock valued at $949,000 after buying an additional 2,793 shares in the last quarter. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the company. StockNews.com upgraded GameStop from a “sell” rating to a “hold” rating in a research note on Thursday. Wedbush reiterated an “underperform” rating and set a $10.00 price target on shares of GameStop in a research report on Monday.

Insiders Place Their Bets

In other news, insider Daniel William Moore sold 895 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction of $27,807.65. Following the completion of the sale, the insider now owns 31,385 shares in the company, valued at $975,131.95. This trade represents a 2.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of the company’s 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 $48,997.39. Following the completion of the transaction, the general counsel now 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 disclosure for this sale can be found here. Corporate insiders own 12.28% of the company’s stock.

GameStop Trading Down 22.8 %

GME opened at $21.89 on Friday. GameStop Corp. has a twelve month low of $9.95 and a twelve month high of $64.83. The firm has a market capitalization of $9.78 billion, a PE ratio of 121.64 and a beta of -0.29. The firm’s 50-day moving average price is $25.48 and its 200 day moving average price is $25.66.

GameStop (NYSE:GME) last posted its quarterly earnings results 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. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the business earned $0.21 earnings per share. The business’s revenue was down 28.5% compared to the same quarter last year. As a group, analysts predict that GameStop Corp. will post 0.08 earnings per share for the current fiscal 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.