Advisors Asset Management Inc. raised its position in GameStop Corp. (NYSE:GME) by 28.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,859 shares of the company’s stock after buying an additional 2,175 shares during the period. Advisors Asset Management Inc.’s holdings in GameStop Corp. were worth $262,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of GME. NN Investment Partners Holdings N.V. purchased a new stake in GameStop Corp. during the first quarter worth $4,804,000. Acrospire Investment Management LLC purchased a new stake in GameStop Corp. during the first quarter worth $117,000. Tobam raised its stake in GameStop Corp. by 12.7% in the first quarter. Tobam now owns 1,253,521 shares of the company’s stock worth $39,774,000 after buying an additional 141,229 shares during the last quarter. BlackRock Japan Co. Ltd raised its stake in GameStop Corp. by 8.8% in the first quarter. BlackRock Japan Co. Ltd now owns 140,827 shares of the company’s stock worth $4,468,000 after buying an additional 11,335 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in GameStop Corp. by 2.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,998,431 shares of the company’s stock worth $95,140,000 after buying an additional 58,225 shares during the last quarter.
GameStop Corp. (NYSE:GME) traded up 0.40% on Monday, reaching $27.70. The company’s stock had a trading volume of 492,467 shares. GameStop Corp. has a 52-week low of $24.33 and a 52-week high of $47.62. The firm has a market capitalization of $2.88 billion, a P/E ratio of 7.30 and a beta of 1.08. The firm has a 50-day moving average price of $28.88 and a 200 day moving average price of $29.36.
GameStop Corp. (NYSE:GME) last announced its earnings results on Thursday, August 25th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.27. GameStop Corp. had a return on equity of 19.44% and a net margin of 4.35%. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the company posted $0.31 EPS. GameStop Corp.’s quarterly revenue was down 7.4% on a year-over-year basis. Equities analysts anticipate that GameStop Corp. will post $3.98 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Friday, September 9th were issued a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.36%. GameStop Corp.’s dividend payout ratio (DPR) is 39.05%.
A number of research firms recently weighed in on GME. Robert W. Baird restated an “outperform” rating and set a $40.00 target price on shares of GameStop Corp. in a research note on Monday, September 26th. TheStreet lowered shares of GameStop Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, September 13th. 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 note on Friday, September 9th. Pacific Crest restated a “hold” rating on shares of GameStop Corp. in a research note on Sunday, August 28th. Finally, Wedbush set a $36.00 target price on shares of GameStop Corp. and gave the stock a “buy” rating in a research note on Sunday, August 28th. One 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 given a strong buy rating to the company. The company 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 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 acquisition, 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 filing with the SEC, which is available at this link. 2.70% of the stock is 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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