Principal Financial Group Inc. boosted its stake in shares of GameStop Corp. (NYSE:GME) by 147.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 393,763 shares of the company’s stock after buying an additional 234,752 shares during the period. Principal Financial Group Inc. owned 0.38% of GameStop Corp. worth $10,467,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Acrospire Investment Management LLC acquired a new position in shares of GameStop Corp. during the first quarter valued at $117,000. BlueMountain Capital Management LLC purchased a new position in GameStop Corp. during the first quarter valued at approximately $156,000. Penserra Capital Management LLC boosted its position in 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 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 purchased a new position in GameStop Corp. during the second quarter valued at approximately $150,000.
GameStop Corp. (NYSE:GME) opened at 25.38 on Friday. GameStop Corp. has a 52-week low of $24.33 and a 52-week high of $47.62. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 6.69 and a beta of 1.08. The stock’s 50 day moving average is $27.45 and its 200-day moving average is $29.07.
GameStop Corp. (NYSE:GME) last issued its quarterly earnings data on Thursday, August 25th. The company reported $0.27 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.27. The company had revenue of $1.63 billion for 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 firm’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.31 earnings per share. Equities research analysts anticipate that GameStop Corp. will post $3.99 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Friday, September 9th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.48 dividend on an annualized basis and a yield of 5.83%. GameStop Corp.’s dividend payout ratio (DPR) is 39.05%.
A number of research firms 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 Sunday, August 28th. Wedbush set a $36.00 price target on shares of GameStop Corp. and gave the stock a “buy” rating in a report on Sunday, August 28th. Vetr cut shares of GameStop Corp. from a “strong-buy” rating to a “buy” rating and set a $33.63 price target on the stock. in a report on Monday, July 18th. Finally, Robert W. Baird lowered their price target on shares of GameStop Corp. from $42.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, August 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $36.71.
In related news, EVP Michael Mauler acquired 10,000 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were bought at an average price of $26.91 per share, for a total transaction of $269,100.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.70% of the company’s stock.
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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