Quest Partners LLC Boosts Holdings in GameStop Corp. (NYSE:GME)

Quest Partners LLC boosted its position in shares of GameStop Corp. (NYSE:GME) by 162.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 16,179 shares of the company’s stock after purchasing an additional 10,011 shares during the quarter. Quest Partners LLC’s holdings in GameStop were worth $371,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. AlphaMark Advisors LLC grew its holdings in shares of GameStop by 41.7% during the second quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock valued at $33,000 after buying an additional 396 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of GameStop by 32.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock worth $51,000 after purchasing an additional 511 shares in the last quarter. CWM LLC raised its stake in shares of GameStop by 19.9% in the third quarter. CWM LLC now owns 3,189 shares of the company’s stock worth $73,000 after purchasing an additional 529 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of GameStop by 535.8% during the third quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock valued at $26,000 after purchasing an additional 959 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its position in shares of GameStop by 6.5% during the third quarter. Crossmark Global Holdings Inc. now owns 17,815 shares of the company’s stock valued at $408,000 after buying an additional 1,085 shares during the last quarter. 29.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GME. StockNews.com raised GameStop to a “sell” rating in a research report on Saturday, October 19th. Wedbush dropped their target price on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating on the stock in a report on Wednesday, September 11th.

GameStop Stock Performance

Shares of NYSE:GME opened at $27.90 on Monday. GameStop Corp. has a 52-week low of $9.95 and a 52-week high of $64.83. The stock has a market capitalization of $11.90 billion, a price-to-earnings ratio of 214.63 and a beta of -0.13. The stock’s 50-day simple moving average is $22.78 and its two-hundred day simple moving average is $23.73.

GameStop (NYSE:GME) last released its quarterly earnings results on Tuesday, September 10th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.09. The business had revenue of $798.30 million for the quarter, compared to the consensus estimate of $895.67 million. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The company’s quarterly revenue was down 31.4% on a year-over-year basis. During the same period last year, the firm earned ($0.03) earnings per share. As a group, equities analysts forecast that GameStop Corp. will post 0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GameStop news, insider Daniel William Moore sold 1,972 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 $43,305.12. Following the completion of the sale, the insider now owns 37,280 shares in the company, valued at approximately $818,668.80. This represents a 5.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Mark Haymond Robinson sold 4,667 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the general counsel now directly owns 54,927 shares in the company, 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. Insiders sold a total of 22,639 shares of company stock worth $481,000 over the last quarter. 12.28% of the stock is currently owned by corporate insiders.

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.