Advisory Services Network LLC decreased its stake in GameStop Corp. (NYSE:GME) by 5.1% during the second quarter, Holdings Channel reports. The fund owned 8,005 shares of the company’s stock after selling 426 shares during the period. Advisory Services Network LLC’s holdings in GameStop Corp. were worth $213,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Acrospire Investment Management LLC acquired a new stake in shares of GameStop Corp. during the first quarter valued at approximately $117,000. Americafirst Capital Management LLC acquired a new stake in shares of GameStop Corp. during the second quarter valued at approximately $150,000. BlueMountain Capital Management LLC acquired a new stake in shares of GameStop Corp. during the first quarter valued at approximately $156,000. Seven Eight Capital LLC boosted its stake 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 during the last quarter. Finally, Spark Investment Management LLC acquired a new stake in shares of GameStop Corp. during the first quarter valued at approximately $390,000.
GameStop Corp. (NYSE:GME) remained flat at $26.68 on Friday. 2,145,391 shares of the company were exchanged. GameStop Corp. has a 1-year low of $24.33 and a 1-year high of $47.62. The firm has a market capitalization of $2.77 billion, a P/E ratio of 7.03 and a beta of 1.08. The company has a 50-day moving average price of $28.29 and a 200-day moving average price of $29.22.
GameStop Corp. (NYSE:GME) last released its quarterly earnings results on Thursday, August 25th. The company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. GameStop Corp. had a return on equity of 19.44% and a net margin of 4.35%. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the company posted $0.31 EPS. The business’s revenue was down 7.4% on a year-over-year basis. Equities research analysts anticipate that GameStop Corp. will post $3.99 EPS for the current fiscal year.
The firm 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 was Wednesday, September 7th. GameStop Corp.’s dividend payout ratio is 39.05%.
Several brokerages have recently commented on GME. Robert W. Baird restated an “outperform” rating and set a $42.00 target price on shares of GameStop Corp. in a report on Wednesday, August 3rd. Pacific Crest restated a “hold” rating on shares of GameStop Corp. in a report on Monday, August 22nd. Zacks Investment Research upgraded GameStop Corp. from a “hold” rating to a “strong-buy” rating and set a $36.00 target price on the stock in a report on Wednesday, July 27th. Piper Jaffray Cos. restated an “outperform” rating and set a $41.00 target price on shares of GameStop Corp. in a report on Friday, August 26th. Finally, Wedbush set a $36.00 target price on GameStop Corp. and gave the stock a “buy” rating in a report on Sunday, August 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $36.71.
In other GameStop Corp. news, EVP Michael Mauler acquired 10,000 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were bought at an average cost of $26.91 per share, with a total value of $269,100.00. Following the purchase, the executive vice president now directly owns 120,922 shares of the company’s stock, valued at $3,254,011.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.70% of the stock is 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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