Fifth Third Bancorp Acquires 1,445 Shares of GameStop Corp. (NYSE:GME)

Fifth Third Bancorp lifted its holdings in GameStop Corp. (NYSE:GME) by 50.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,300 shares of the company’s stock after purchasing an additional 1,445 shares during the period. Fifth Third Bancorp’s holdings in GameStop were worth $75,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GME. Covestor Ltd increased its holdings in GameStop by 323.2% in the 1st quarter. Covestor Ltd now owns 237 shares of the company’s stock worth $39,000 after acquiring an additional 181 shares in the last quarter. IFP Advisors Inc grew its holdings in GameStop by 99.7% during the 3rd quarter. IFP Advisors Inc now owns 2,708 shares of the company’s stock valued at $45,000 after buying an additional 1,352 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in GameStop during the 1st quarter valued at approximately $50,000. Steward Partners Investment Advisory LLC grew its holdings in GameStop by 216.8% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 4,384 shares of the company’s stock valued at $101,000 after buying an additional 3,000 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in GameStop by 278.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 6,567 shares of the company’s stock valued at $108,000 after buying an additional 4,834 shares in the last quarter. Institutional investors own 29.21% of the company’s stock.

Insider Activity at GameStop

In related news, General Counsel Mark Haymond Robinson sold 4,379 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $11.61, for a total value of $50,840.19. Following the completion of the sale, the general counsel now directly owns 64,308 shares in the company, valued at $746,615.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Lawrence Cheng purchased 10,000 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was bought at an average cost of $11.22 per share, for a total transaction of $112,200.00. Following the completion of the transaction, the director now directly owns 65,088 shares in the company, valued at $730,287.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Mark Haymond Robinson sold 4,379 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $11.61, for a total value of $50,840.19. Following the completion of the sale, the general counsel now owns 64,308 shares of the company’s stock, valued at $746,615.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,957 shares of company stock valued at $68,971. 12.64% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GME has been the subject of a number of research analyst reports. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th. Wedbush cut their price objective on shares of GameStop from $6.00 to $5.60 and set an “underperform” rating for the company in a report on Wednesday, March 27th.

GameStop Trading Down 1.4 %

GME stock opened at $10.86 on Thursday. The firm has a fifty day moving average price of $13.72 and a 200 day moving average price of $14.49. GameStop Corp. has a fifty-two week low of $10.73 and a fifty-two week high of $27.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.44 and a current ratio of 2.11. The firm has a market cap of $3.32 billion, a PE ratio of 543.00 and a beta of -0.45.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, March 26th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). GameStop had a net margin of 0.13% and a return on equity of 1.35%. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same period last year, the business posted $0.16 earnings per share. The company’s revenue for the quarter was down 19.4% compared to the same quarter last year. Sell-side analysts anticipate that GameStop Corp. will post 0.01 earnings per share for the current fiscal year.

About GameStop

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.