Intech Investment Management LLC Sells 23,331 Shares of GameStop Corp. $GME

Intech Investment Management LLC cut its stake in shares of GameStop Corp. (NYSE:GME) by 25.5% in the fourth quarter, Holdings Channel reports. The fund owned 68,026 shares of the company’s stock after selling 23,331 shares during the period. Intech Investment Management LLC’s holdings in GameStop were worth $1,366,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GME. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of GameStop by 308.9% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 969 shares of the company’s stock valued at $26,000 after acquiring an additional 732 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of GameStop by 226.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company’s stock valued at $31,000 after acquiring an additional 886 shares during the period. Advisory Services Network LLC bought a new position in shares of GameStop during the third quarter valued at $39,000. Bessemer Group Inc. lifted its holdings in shares of 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 acquiring an additional 471 shares during the period. Finally, Eastern Bank bought a new position in shares of GameStop during the fourth quarter valued at $74,000. 29.21% of the stock is owned by institutional investors.

GameStop Price Performance

GameStop stock opened at $21.79 on Friday. The firm has a market capitalization of $9.78 billion, a P/E ratio of 16.51 and a beta of 1.77. GameStop Corp. has a 1 year low of $19.93 and a 1 year high of $30.60. The business has a 50-day moving average of $23.16 and a 200-day moving average of $22.83. The company has a current ratio of 15.30, a quick ratio of 14.68 and a debt-to-equity ratio of 0.76.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, June 2nd. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.14. The company had revenue of $835.30 million during the quarter, compared to analyst estimates of $766.64 million. GameStop had a return on equity of 14.10% and a net margin of 20.45%.The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.17 EPS.

Insider Activity at GameStop

In related news, General Counsel Mark Haymond Robinson sold 7,209 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $22.94, for a total value of $165,374.46. Following the completion of the transaction, the general counsel directly owned 97,946 shares in the company, valued at approximately $2,246,881.24. The trade was a 6.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel William Moore sold 7,210 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $22.94, for a total value of $165,397.40. Following the completion of the transaction, the insider owned 101,014 shares of the company’s stock, valued at $2,317,261.16. This represents a 6.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 18,331 shares of company stock valued at $421,491 over the last quarter. 9.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Wall Street Zen raised GameStop from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings upgraded GameStop from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $13.50.

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.