Capital Fund Management S.A. reduced its stake in shares of GameStop Corp. (NYSE:GME) by 91.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,529 shares of the company’s stock after selling 752,943 shares during the period. Capital Fund Management S.A.’s holdings in GameStop Corp. were worth $1,981,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in GameStop Corp. by 4.4% in the first quarter. Geode Capital Management LLC now owns 917,726 shares of the company’s stock valued at $29,065,000 after buying an additional 39,043 shares in the last quarter. Credit Agricole S A raised its stake in GameStop Corp. by 87.9% in the first quarter. Credit Agricole S A now owns 33,162 shares of the company’s stock valued at $1,051,000 after buying an additional 15,509 shares in the last quarter. Prudential PLC raised its stake in GameStop Corp. by 10.0% in the first quarter. Prudential PLC now owns 275,000 shares of the company’s stock valued at $8,726,000 after buying an additional 25,000 shares in the last quarter. Genesee Valley Trust Co. raised its stake in GameStop Corp. by 18.4% in the second quarter. Genesee Valley Trust Co. now owns 34,586 shares of the company’s stock valued at $919,000 after buying an additional 5,380 shares in the last quarter. Finally, Americafirst Capital Management LLC acquired a new stake in GameStop Corp. during the second quarter valued at approximately $150,000.
GameStop Corp. (NYSE:GME) traded down 1.91% during midday trading on Thursday, reaching $26.68. 3,747,458 shares of the company traded hands. GameStop Corp. has a 12 month low of $24.33 and a 12 month high of $47.62. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 7.03 and a beta of 1.08. The firm has a 50 day moving average of $28.41 and a 200-day moving average of $29.25.
GameStop Corp. (NYSE:GME) last posted its earnings results on Thursday, August 25th. The company reported $0.27 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. The company earned $1.63 billion during the quarter, compared to the consensus estimate of $1.73 billion. GameStop Corp. had a net margin of 4.35% and a return on equity of 19.44%. The company’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.31 earnings per share. Analysts forecast that GameStop Corp. will post $3.98 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Friday, September 9th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date of this dividend was Wednesday, September 7th. GameStop Corp.’s payout ratio is 39.05%.
GME has been the topic of several research reports. Robert W. Baird reiterated an “outperform” rating and issued a $40.00 price target on shares of GameStop Corp. in a research report on Monday, September 26th. Hilliard Lyons upgraded shares of GameStop Corp. from a “neutral” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Friday, September 9th. Credit Suisse Group AG restated a “hold” rating and set a $30.00 target price on shares of GameStop Corp. in a research report on Monday, August 22nd. Pacific Crest restated a “hold” rating on shares of GameStop Corp. in a research report on Monday, August 22nd. Finally, TheStreet upgraded shares of GameStop Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, August 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $36.57.
In other news, EVP Michael Mauler acquired 10,000 shares of GameStop Corp. stock in a transaction dated Thursday, September 15th. The stock was acquired at an average cost of $26.91 per share, for a total transaction of $269,100.00. Following the completion of the purchase, the executive vice president now owns 120,922 shares of the company’s stock, valued at $3,254,011.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is currently owned by insiders.
GameStop Corp. Company Profile
GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. The Company operates its business in four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.
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