Great Lakes Advisors LLC Takes $6.20 Million Position in GameStop Corp. $GME

Great Lakes Advisors LLC purchased a new position in shares of GameStop Corp. (NYSE:GME) during the third quarter, HoldingsChannel reports. The firm purchased 227,396 shares of the company’s stock, valued at approximately $6,203,000.

A number of other institutional investors and hedge funds have also bought and sold shares of GME. Geode Capital Management LLC raised its position in GameStop by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 7,049,033 shares of the company’s stock worth $171,955,000 after purchasing an additional 66,550 shares during the last quarter. Marshall Wace LLP increased its stake in shares of GameStop by 347.7% in the second quarter. Marshall Wace LLP now owns 6,657,678 shares of the company’s stock valued at $162,381,000 after buying an additional 5,170,741 shares during the period. Invesco Ltd. raised its position in shares of GameStop by 486.6% during the second quarter. Invesco Ltd. now owns 3,858,024 shares of the company’s stock worth $94,097,000 after acquiring an additional 3,200,321 shares during the last quarter. Norges Bank acquired a new position in shares of GameStop in the second quarter worth approximately $76,701,000. Finally, Clear Street LLC acquired a new position in shares of GameStop in the second quarter worth approximately $57,433,000. 29.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at GameStop

In related news, Director Lawrence Cheng bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The shares were acquired at an average cost of $22.87 per share, with a total value of $114,350.00. Following the completion of the purchase, the director directly owned 88,000 shares in the company, valued at $2,012,560. The trade was a 6.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 12,200 shares of GameStop stock in a transaction on Monday, January 12th. The shares were sold at an average price of $21.00, for a total transaction of $256,200.00. Following the completion of the sale, the general counsel directly owned 105,155 shares of the company’s stock, valued at approximately $2,208,255. This trade represents a 10.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have acquired 517,000 shares of company stock worth $10,925,150 and have sold 23,152 shares worth $480,059. Corporate insiders own 8.58% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of GameStop from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, January 16th. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, GameStop has an average rating of “Sell” and a consensus price target of $13.50.

GameStop Stock Down 3.4%

Shares of NYSE:GME opened at $22.83 on Friday. GameStop Corp. has a 1 year low of $19.93 and a 1 year high of $35.81. The company has a debt-to-equity ratio of 0.78, a current ratio of 10.39 and a quick ratio of 9.77. The business’s 50-day moving average is $21.82 and its 200-day moving average is $22.84. The company has a market capitalization of $10.23 billion, a price-to-earnings ratio of 27.84 and a beta of -1.23.

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

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.