Bank of New York Mellon Corp Acquires 1,644,587 Shares of GameStop Corp. (NYSE:GME)

Bank of New York Mellon Corp increased its holdings in shares of GameStop Corp. (NYSE:GMEGet Rating) by 301.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,190,263 shares of the company’s stock after acquiring an additional 1,644,587 shares during the period. Bank of New York Mellon Corp owned about 0.72% of GameStop worth $55,042,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Covestor Ltd boosted its position in GameStop by 323.2% in the 1st quarter. Covestor Ltd now owns 237 shares of the company’s stock valued at $39,000 after buying an additional 181 shares during the last quarter. Captrust Financial Advisors boosted its position in GameStop by 24.8% in the 2nd quarter. Captrust Financial Advisors now owns 1,314 shares of the company’s stock valued at $161,000 after buying an additional 261 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in GameStop in the 1st quarter valued at $50,000. Prudential Financial Inc. boosted its position in GameStop by 8.5% in the 2nd quarter. Prudential Financial Inc. now owns 4,640 shares of the company’s stock valued at $567,000 after buying an additional 365 shares during the last quarter. Finally, FMR LLC boosted its position in GameStop by 4.6% in the 2nd quarter. FMR LLC now owns 8,391 shares of the company’s stock valued at $1,026,000 after buying an additional 370 shares during the last quarter. 25.57% of the stock is currently owned by institutional investors.

GameStop Stock Performance

GME stock opened at $17.25 on Friday. The business’s fifty day moving average is $19.87 and its 200-day moving average is $23.58. The company has a quick ratio of 0.91, a current ratio of 1.63 and a debt-to-equity ratio of 0.02. The company has a market cap of $5.25 billion, a P/E ratio of -10.30 and a beta of -0.19. GameStop Corp. has a twelve month low of $15.41 and a twelve month high of $49.85.

GameStop (NYSE:GMEGet Rating) last posted its quarterly earnings results on Wednesday, December 7th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.02). The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.35 billion. GameStop had a negative net margin of 8.54% and a negative return on equity of 35.44%. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period last year, the company earned ($0.35) EPS. Equities research analysts forecast that GameStop Corp. will post -1.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GME. StockNews.com upgraded GameStop to a “sell” rating in a research report on Wednesday. Wedbush decreased their price objective on GameStop from $6.00 to $5.30 and set an “underperform” rating on the stock in a research report on Thursday, December 8th.

About GameStop

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GameStop Corp. offers games and entertainment products through its ecommerce properties and stores. It operates through the following geographic segments: United States, Canada, Australia, and Europe. Each segment consists primarily of retail operations, including stores and ecommerce properties focused on games, entertainment products, and technology.

Further Reading

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Institutional Ownership by Quarter for GameStop (NYSE:GME)

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