Dynamic Technology Lab Private Ltd lowered its stake in GameStop Corp. (NYSE:GME) by 57.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 10,600 shares of the company’s stock after selling 14,032 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in GameStop Corp. were worth $281,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Acrospire Investment Management LLC acquired a new position in shares of GameStop Corp. during the first quarter valued at approximately $117,000. BlueMountain Capital Management LLC acquired a new position in shares of GameStop Corp. during the first quarter valued at approximately $156,000. Penserra Capital Management LLC boosted its position in shares of GameStop Corp. by 12.3% in the second quarter. Penserra Capital Management LLC now owns 4,938 shares of the company’s stock valued at $131,000 after buying an additional 542 shares in the last quarter. Seven Eight Capital LLC boosted its position in shares of GameStop Corp. by 95.3% in the first quarter. Seven Eight Capital LLC now owns 5,401 shares of the company’s stock valued at $171,000 after buying an additional 2,635 shares in the last quarter. Finally, Americafirst Capital Management LLC acquired a new position in shares of GameStop Corp. during the second quarter valued at approximately $150,000.
GameStop Corp. (NYSE:GME) opened at 27.59 on Friday. The company has a 50-day moving average of $28.88 and a 200 day moving average of $29.36. GameStop Corp. has a 12-month low of $24.33 and a 12-month high of $47.62. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 7.27 and a beta of 1.03.
GameStop Corp. (NYSE:GME) last issued its quarterly earnings results on Thursday, August 25th. The company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. GameStop Corp. had a net margin of 4.35% and a return on equity of 19.44%. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the firm earned $0.31 earnings per share. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. Equities analysts expect that GameStop Corp. will post $3.98 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Friday, September 9th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 5.36%. The ex-dividend date was Wednesday, September 7th. GameStop Corp.’s dividend payout ratio is currently 39.05%.
Several brokerages have recently commented on GME. Bank of America Corp. reaffirmed a “buy” rating on shares of GameStop Corp. in a report on Sunday, July 17th. Pacific Crest reaffirmed a “hold” rating on shares of GameStop Corp. in a report on Saturday, June 4th. Wedbush set a $36.00 target price on shares of GameStop Corp. and gave the stock a “buy” rating in a report on Sunday, August 28th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of GameStop Corp. in a research note on Wednesday, June 15th. Finally, Vetr cut shares of GameStop Corp. from a “strong-buy” rating to a “buy” rating and set a $33.63 price objective on the stock. in a research note on Monday, July 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $36.57.
In other news, EVP Michael Mauler purchased 10,000 shares of the stock in a transaction on Thursday, September 15th. The shares were acquired at an average price of $26.91 per share, with a total value of $269,100.00. Following the completion of the acquisition, the executive vice president now directly 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 SEC, which is available at this hyperlink. Company insiders own 2.70% of the company’s stock.
About GameStop Corp.
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.
Want to see what other hedge funds are holding GME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GameStop Corp. (NYSE:GME).
Receive News & Ratings for GameStop Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GameStop Corp. and related companies with MarketBeat.com's FREE daily email newsletter.