PNC Financial Services Group Inc. decreased its stake in shares of GameStop Corp. (NYSE:GME) by 38.9% during the second quarter, Holdings Channel reports. The institutional investor owned 10,241 shares of the company’s stock after selling 6,523 shares during the period. PNC Financial Services Group Inc.’s holdings in GameStop Corp. were worth $273,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. NN Investment Partners Holdings N.V. bought a new stake in GameStop Corp. during the first quarter valued at $4,804,000. Acrospire Investment Management LLC bought a new stake in GameStop Corp. during the first quarter valued at $117,000. Tobam increased its stake in GameStop Corp. by 12.7% in the first quarter. Tobam now owns 1,253,521 shares of the company’s stock valued at $39,774,000 after buying an additional 141,229 shares in the last quarter. BlackRock Japan Co. Ltd increased 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 valued at $4,468,000 after buying an additional 11,335 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased 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 valued at $95,140,000 after buying an additional 58,225 shares in the last quarter.
GameStop Corp. (NYSE:GME) traded up 1.66% on Friday, reaching $27.59. 1,788,802 shares of the company were exchanged. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 7.27 and a beta of 1.03. GameStop Corp. has a 52 week low of $24.33 and a 52 week high of $47.62. The stock 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 issued its quarterly earnings data on Thursday, August 25th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. GameStop Corp. had a net margin of 4.35% and a return on equity of 19.44%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm posted $0.31 EPS. GameStop Corp.’s revenue for the quarter was down 7.4% on a year-over-year basis. Analysts forecast that GameStop Corp. will post $3.98 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Friday, September 9th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 5.36%. The ex-dividend date was Wednesday, September 7th. GameStop Corp.’s payout ratio is 39.05%.
Several analysts have recently weighed in on the stock. Piper Jaffray Cos. reaffirmed an “outperform” rating and set a $41.00 price target on shares of GameStop Corp. in a research note on Friday, August 26th. Robert W. Baird decreased their price target on shares of GameStop Corp. from $42.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, August 26th. TheStreet raised shares of GameStop Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, August 23rd. Credit Suisse Group AG reissued a “hold” rating and set a $30.00 price objective on shares of GameStop Corp. in a report on Monday, August 22nd. Finally, Pacific Crest reissued a “hold” rating on shares of GameStop Corp. in a report on Monday, August 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $36.57.
In other news, EVP Michael Mauler bought 10,000 shares of the stock in a transaction dated 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 in the company, valued at $3,254,011.02. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.70% of the stock is currently owned by insiders.
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.
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