JPMorgan Chase & Co. Acquires 244,339 Shares of GameStop Corp. (NYSE:GME)

JPMorgan Chase & Co. grew its holdings in GameStop Corp. (NYSE:GME) by 46.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 774,096 shares of the company’s stock after purchasing an additional 244,339 shares during the period. JPMorgan Chase & Co.’s holdings in GameStop were worth $17,750,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. UMB Bank n.a. boosted its stake in GameStop by 535.8% in the third quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock valued at $26,000 after buying an additional 959 shares in the last quarter. CWM LLC lifted its holdings 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 acquiring an additional 529 shares during the last quarter. Quest Partners LLC boosted its stake in shares of GameStop by 7,156.5% in the 2nd quarter. Quest Partners LLC now owns 6,168 shares of the company’s stock valued at $152,000 after purchasing an additional 6,083 shares in the last quarter. Centaurus Financial Inc. acquired a new stake in shares of GameStop in the 3rd quarter valued at approximately $171,000. Finally, American Century Companies Inc. bought a new stake in shares of GameStop during the 2nd quarter valued at approximately $207,000. Institutional investors and hedge funds own 29.21% of the company’s stock.

Insider Activity at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 1,577 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 $48,997.39. Following the completion of the transaction, the general counsel now owns 42,350 shares in the company, valued at approximately $1,315,814.50. This trade represents a 3.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel William Moore sold 895 shares of the company’s stock in a transaction 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 directly owns 31,385 shares in the company, valued at approximately $975,131.95. This represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.28% of the stock is currently owned by company insiders.

GameStop Price Performance

GameStop stock opened at $32.95 on Friday. The business has a 50 day moving average of $28.76 and a 200-day moving average of $24.74. The company has a market capitalization of $14.72 billion, a P/E ratio of 183.07 and a beta of -0.02. GameStop Corp. has a 1 year low of $9.95 and a 1 year high of $64.83.

GameStop (NYSE:GME) last announced its quarterly earnings results on Tuesday, December 10th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.09. The firm had revenue of $860.30 million during the quarter, compared to analysts’ expectations of $887.68 million. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The firm’s revenue for the quarter was down 20.2% on a year-over-year basis. Equities analysts anticipate that GameStop Corp. will post 0.08 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wedbush restated 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.