GameStop Corp. $GME Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its stake in shares of GameStop Corp. (NYSE:GME) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,504,483 shares of the company’s stock after selling 416,382 shares during the quarter. Vanguard Group Inc. owned 8.60% of GameStop worth $1,050,402,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of GameStop by 0.9% during the third quarter. Northwestern Mutual Investment Management Company LLC now owns 91,734 shares of the company’s stock valued at $2,503,000 after purchasing an additional 852 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in GameStop by 1.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 146,938 shares of the company’s stock worth $4,008,000 after buying an additional 1,653 shares during the period. Profund Advisors LLC raised its holdings in GameStop by 7.2% during the 3rd quarter. Profund Advisors LLC now owns 9,371 shares of the company’s stock worth $256,000 after buying an additional 632 shares during the period. Bessemer Group Inc. lifted its stake in GameStop by 39.2% during the third quarter. Bessemer Group Inc. now owns 1,674 shares of the company’s stock valued at $46,000 after buying an additional 471 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in shares of GameStop by 283.7% in the third quarter. Hantz Financial Services Inc. now owns 8,161 shares of the company’s stock worth $223,000 after buying an additional 6,034 shares during the period. 29.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of GameStop from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, February 2nd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $13.50.

GameStop Stock Down 2.0%

NYSE:GME opened at $23.42 on Friday. GameStop Corp. has a 1-year low of $19.93 and a 1-year high of $35.81. The firm has a market capitalization of $10.49 billion, a price-to-earnings ratio of 28.56 and a beta of 2.02. The company has a current ratio of 10.39, a quick ratio of 9.77 and a debt-to-equity ratio of 0.78. The business’s fifty day moving average price is $22.50 and its 200 day moving average price is $22.96.

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

Insider Transactions at GameStop

In other GameStop news, Director Lawrence Cheng purchased 5,000 shares of the company’s stock in a transaction dated Friday, January 23rd. The shares were bought at an average price of $22.87 per share, for a total transaction of $114,350.00. Following the purchase, the director directly owned 88,000 shares in the company, valued at $2,012,560. This trade represents a 6.02% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alain Attal acquired 12,000 shares of the stock in a transaction dated Tuesday, January 20th. The shares were bought at an average cost of $20.90 per share, for a total transaction of $250,800.00. Following the acquisition, the director owned 596,464 shares in the company, valued at $12,466,097.60. The trade was a 2.05% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have acquired 517,000 shares of company stock valued at $10,925,150 and have sold 23,152 shares valued at $480,059. Corporate insiders own 8.58% of the company’s stock.

GameStop Profile

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.