Victory Capital Management Inc. Acquires 11,749 Shares of GameStop Corp. (NYSE:GME)

Victory Capital Management Inc. grew its position in GameStop Corp. (NYSE:GME) by 19.2% in the third quarter, Holdings Channel reports. The fund owned 72,982 shares of the company’s stock after acquiring an additional 11,749 shares during the quarter. Victory Capital Management Inc.’s holdings in GameStop were worth $1,673,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GME. Van ECK Associates Corp increased its stake in shares of GameStop by 8.1% in the third quarter. Van ECK Associates Corp now owns 1,825,837 shares of the company’s stock valued at $41,866,000 after buying an additional 136,785 shares during the period. Renaissance Technologies LLC increased its position in GameStop by 34.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,347,136 shares of the company’s stock valued at $33,261,000 after purchasing an additional 342,178 shares during the period. Cubist Systematic Strategies LLC bought a new position in GameStop during the 2nd quarter worth approximately $9,577,000. New York State Teachers Retirement System lifted its position in shares of GameStop by 5.4% in the 3rd quarter. New York State Teachers Retirement System now owns 281,364 shares of the company’s stock worth $6,452,000 after purchasing an additional 14,400 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its stake in shares of GameStop by 2.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 194,764 shares of the company’s stock valued at $2,438,000 after purchasing an additional 5,411 shares during the last quarter. 29.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. 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. StockNews.com raised GameStop to a “sell” rating in a research report on Saturday, October 19th.

GameStop Stock Performance

Shares of GME opened at $29.68 on Tuesday. The firm has a market cap of $12.66 billion, a PE ratio of 228.33 and a beta of -0.13. GameStop Corp. has a 52-week low of $9.95 and a 52-week high of $64.83. The business’s 50 day moving average price is $22.97 and its two-hundred day moving average price is $23.87.

GameStop (NYSE:GME) last released its earnings results on Tuesday, September 10th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. The company 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%. GameStop’s quarterly revenue was down 31.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.03) EPS. Research analysts predict that GameStop Corp. will post 0.01 EPS for the current fiscal year.

Insider Transactions at GameStop

In related news, insider Daniel William Moore sold 1,972 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were 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. This represents a 5.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Mark Haymond Robinson sold 11,000 shares of GameStop stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $20.82, for a total value of $229,020.00. Following the transaction, the general counsel now owns 43,927 shares of the company’s stock, valued at $914,560.14. This trade represents a 20.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,639 shares of company stock valued at $481,000 in the last 90 days. 12.28% of the stock is currently owned by corporate insiders.

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.