GameStop Corp. (NYSE:GME) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in shares of GameStop Corp. (NYSE:GME) by 5.0% during the first quarter, Holdings Channel.com reports. The fund owned 2,051,190 shares of the company’s stock after buying an additional 96,888 shares during the period. Charles Schwab Investment Management Inc.’s holdings in GameStop were worth $47,218,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Covestor Ltd lifted its stake 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 in the last quarter. Captrust Financial Advisors lifted its stake in GameStop by 24.8% in the 2nd quarter. Captrust Financial Advisors now owns 1,314 shares of the company’s stock worth $161,000 after purchasing an additional 261 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in GameStop in the 1st quarter worth approximately $50,000. Prudential Financial Inc. lifted its stake in GameStop by 8.5% in the 2nd quarter. Prudential Financial Inc. now owns 4,640 shares of the company’s stock worth $567,000 after purchasing an additional 365 shares in the last quarter. Finally, FMR LLC raised its position in shares of GameStop by 4.6% during 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 period. 39.46% of the stock is currently owned by institutional investors and hedge funds.

GameStop Price Performance

GameStop stock opened at $18.89 on Friday. GameStop Corp. has a 12-month low of $15.41 and a 12-month high of $34.99. The stock has a market cap of $5.76 billion, a P/E ratio of -27.77 and a beta of -0.26. The company has a current ratio of 1.71, a quick ratio of 1.13 and a debt-to-equity ratio of 0.02. The company has a fifty day simple moving average of $20.87 and a 200-day simple moving average of $21.32.

GameStop (NYSE:GME) last announced its earnings results on Wednesday, September 6th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.11. GameStop had a negative net margin of 3.56% and a negative return on equity of 14.97%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the company earned ($0.35) earnings per share. The business’s revenue was up 2.4% compared to the same quarter last year. Equities analysts expect that GameStop Corp. will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GME has been the topic of several analyst reports. StockNews.com started coverage on shares of GameStop in a research report on Thursday, August 17th. They set a “sell” rating on the stock. Wedbush dropped their price target on shares of GameStop from $6.20 to $6.00 and set an “underperform” rating for the company in a research note on Thursday.

Insider Transactions at GameStop

In other GameStop news, COO Nir Vinay Patel sold 20,149 shares of the company’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $23.27, for a total transaction of $468,867.23. Following the transaction, the chief operating officer now directly owns 1,106,619 shares in the company, valued at $25,751,024.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, COO Nir Vinay Patel sold 20,149 shares of the firm’s stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $23.27, for a total transaction of $468,867.23. Following the completion of the transaction, the chief operating officer now directly owns 1,106,619 shares of the company’s stock, valued at approximately $25,751,024.13. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Diana Saadeh-Jajeh sold 10,484 shares of the firm’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $23.27, for a total transaction of $243,962.68. Following the sale, the chief financial officer now owns 93,438 shares in the company, valued at approximately $2,174,302.26. The disclosure for this sale can be found here. Insiders have sold a total of 132,990 shares of company stock worth $3,010,604 over the last ninety days. 12.64% of the stock is currently owned by company insiders.

GameStop Company Profile

GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, and virtual reality products; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.