GameStop Corp. (NYSE:GME) Shares Purchased by Fmr LLC

Fmr LLC raised its position in GameStop Corp. (NYSE:GME) by 7.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,408 shares of the company’s stock after acquiring an additional 2,793 shares during the quarter. Fmr LLC’s holdings in GameStop were worth $949,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. UMB Bank n.a. grew its holdings in GameStop by 535.8% during the 3rd 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. Centerpoint Advisors LLC purchased a new stake in GameStop during the 2nd quarter worth approximately $47,000. CWM LLC raised its position in shares of GameStop by 115.6% in the 2nd quarter. CWM LLC now owns 2,660 shares of the company’s stock valued at $66,000 after purchasing an additional 1,426 shares in the last quarter. Quest Partners LLC boosted its stake in shares of GameStop by 7,156.5% during the 2nd quarter. Quest Partners LLC now owns 6,168 shares of the company’s stock valued at $152,000 after buying an additional 6,083 shares during the last quarter. Finally, Centaurus Financial Inc. acquired a new stake in shares of GameStop during the third quarter worth approximately $171,000. Hedge funds and other institutional investors own 29.21% of the company’s stock.

GameStop Stock Up 5.1 %

Shares of GME stock opened at $29.41 on Tuesday. The business has a 50 day moving average of $25.12 and a two-hundred day moving average of $24.25. The company has a market cap of $13.14 billion, a P/E ratio of 163.39 and a beta of -0.11. GameStop Corp. has a 52 week low of $9.95 and a 52 week high of $64.83.

GameStop (NYSE:GME) last released its quarterly earnings results on Tuesday, December 10th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.09. The business had revenue of $860.30 million during the quarter, compared to analyst estimates of $887.68 million. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The company’s quarterly revenue was down 20.2% compared to the same quarter last year. Analysts expect that GameStop Corp. will post 0.01 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel Mark Haymond Robinson sold 4,667 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total transaction of $102,487.32. Following the transaction, the general counsel now owns 54,927 shares in the company, valued at $1,206,196.92. This trade represents a 7.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel William Moore sold 2,624 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $21.00, for a total value of $55,104.00. Following the completion of the sale, the insider now owns 32,280 shares of the company’s stock, valued at $677,880. This trade represents a 7.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,639 shares of company stock valued at $481,000. Insiders own 12.28% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GME shares. Wedbush reissued an “underperform” rating and issued a $10.00 target price on shares of GameStop in a research report on Friday, December 6th. StockNews.com raised GameStop to a “sell” rating in a report on Saturday, October 19th.

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.