Voya Investment Management LLC Cuts Stock Holdings in GameStop Corp. $GME

Voya Investment Management LLC lowered its position in GameStop Corp. (NYSE:GME) by 24.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 132,902 shares of the company’s stock after selling 42,057 shares during the period. Voya Investment Management LLC’s holdings in GameStop were worth $3,626,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in GME. EverSource Wealth Advisors LLC grew its position in GameStop by 226.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company’s stock worth $31,000 after purchasing an additional 886 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in shares of GameStop during the 2nd quarter worth approximately $45,000. Hantz Financial Services Inc. boosted its stake in shares of GameStop by 1,523.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,127 shares of the company’s stock worth $52,000 after buying an additional 1,996 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of GameStop by 17.4% in the 2nd quarter. UMB Bank n.a. now owns 4,287 shares of the company’s stock worth $105,000 after buying an additional 636 shares during the last quarter. Finally, Bogart Wealth LLC grew its holdings in shares of GameStop by 25.0% in the second quarter. Bogart Wealth LLC now owns 5,000 shares of the company’s stock valued at $122,000 after acquiring an additional 1,000 shares in the last quarter. 29.21% of the stock is owned by institutional investors.

GameStop Stock Performance

Shares of GME stock opened at $21.08 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 9.77 and a current ratio of 10.39. The firm has a market cap of $9.44 billion, a price-to-earnings ratio of 25.70 and a beta of -1.30. GameStop Corp. has a 52 week low of $19.93 and a 52 week high of $35.81. The firm’s 50-day simple moving average is $22.01 and its two-hundred day simple moving average is $23.21.

GameStop (NYSE:GME) last issued its quarterly earnings results on Tuesday, December 9th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.04. The company had revenue of $821.00 million during the quarter, compared to analyst estimates of $987.29 million. GameStop had a net margin of 11.08% and a return on equity of 9.75%. GameStop’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 EPS. As a group, equities analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of GameStop in a report on Monday. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $13.50.

Insider Buying and Selling at GameStop

In other news, General Counsel Mark Haymond Robinson sold 4,449 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $27.58, for a total transaction of $122,703.42. Following the completion of the transaction, the general counsel owned 112,302 shares in the company, valued at approximately $3,097,289.16. This represents a 3.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel William Moore sold 6,509 shares of GameStop stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $27.58, for a total value of $179,518.22. Following the completion of the sale, the insider directly owned 112,620 shares of the company’s stock, valued at approximately $3,106,059.60. This trade represents a 5.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 8.58% of the stock is currently owned by corporate insiders.

About GameStop

GameStop Corp. (NYSE:GME) is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop’s retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage’s in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.