Van ECK Associates Corp Grows Position in GameStop Corp. $GME

Van ECK Associates Corp increased its holdings in shares of GameStop Corp. (NYSE:GME) by 58.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,098,538 shares of the company’s stock after purchasing an additional 1,141,215 shares during the period. Van ECK Associates Corp owned approximately 0.69% of GameStop worth $84,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC raised its holdings in shares of GameStop by 312.2% during the first quarter. AQR Capital Management LLC now owns 29,438 shares of the company’s stock valued at $623,000 after acquiring an additional 22,297 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of GameStop by 33.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 262,143 shares of the company’s stock valued at $5,851,000 after buying an additional 65,325 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in GameStop by 9.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,131,481 shares of the company’s stock worth $25,255,000 after buying an additional 94,892 shares in the last quarter. AGF Management Ltd. purchased a new position in shares of GameStop in the 2nd quarter valued at about $2,119,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in GameStop during the 2nd quarter worth approximately $350,000. 29.21% of the stock is currently 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 investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $13.50.

Insider Activity at GameStop

In other news, General Counsel Mark Haymond Robinson sold 12,200 shares of GameStop stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $21.00, for a total value of $256,200.00. Following the completion of the transaction, the general counsel directly owned 105,155 shares of the company’s stock, valued at approximately $2,208,255. The trade was a 10.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Alain Attal acquired 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The stock was purchased 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 approximately $12,466,097.60. This trade represents a 2.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 517,000 shares of company stock worth $10,925,150 and have sold 23,152 shares worth $480,059. 8.58% of the stock is currently owned by corporate insiders.

GameStop Stock Down 1.8%

Shares of NYSE:GME opened at $24.34 on Wednesday. The stock’s fifty day simple moving average is $23.06 and its 200-day simple moving average is $23.07. The company has a quick ratio of 9.77, a current ratio of 10.39 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $10.91 billion, a P/E ratio of 29.69 and a beta of 2.12. GameStop Corp. has a 52-week low of $19.93 and a 52-week high of $35.81.

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

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.