Merit Financial Group LLC Makes New $176,000 Investment in GameStop Corp. (NYSE:GME)

Merit Financial Group LLC bought a new stake in GameStop Corp. (NYSE:GME) during the 4th quarter, Holdings Channel reports. The fund bought 10,065 shares of the company’s stock, valued at approximately $176,000.

Other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp lifted its holdings in GameStop by 175.6% in the third quarter. Fifth Third Bancorp now owns 2,855 shares of the company’s stock valued at $47,000 after buying an additional 1,819 shares during the period. Headlands Technologies LLC bought a new position in shares of GameStop in the 4th quarter worth $55,000. Handelsinvest Investeringsforvaltning acquired a new stake in shares of GameStop during the fourth quarter worth $184,000. Algert Global LLC bought a new stake in GameStop in the third quarter valued at about $191,000. Finally, Revisor Wealth Management LLC acquired a new position in GameStop in the third quarter valued at about $213,000. Institutional investors and hedge funds own 29.21% of the company’s stock.

Insider Activity

In related news, insider Daniel William Moore sold 7,779 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $10.20, for a total transaction of $79,345.80. Following the sale, the insider now directly owns 13,606 shares in the company, valued at $138,781.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Daniel William Moore sold 7,779 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $10.20, for a total transaction of $79,345.80. Following the completion of the transaction, the insider now directly owns 13,606 shares of the company’s stock, valued at $138,781.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Mark Haymond Robinson sold 4,379 shares of GameStop stock in a transaction that occurred on Tuesday, April 2nd. The shares were 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 approximately $746,615.88. The disclosure for this sale can be found here. Insiders sold 27,421 shares of company stock worth $288,153 over the last quarter. 12.28% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

GameStop Stock Up 13.8 %

NYSE:GME opened at $18.12 on Friday. GameStop Corp. has a 1 year low of $9.95 and a 1 year high of $27.65. The stock has a 50-day moving average price of $12.94 and a two-hundred day moving average price of $14.05. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 906.00 and a beta of -0.25. The company has a current ratio of 2.11, a quick ratio of 1.44 and a debt-to-equity ratio of 0.01.

GameStop (NYSE:GME) last issued its quarterly earnings data on Tuesday, March 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.07). The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $2.05 billion. GameStop had a net margin of 0.13% and a return on equity of 1.35%. GameStop’s revenue for the quarter was down 19.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 earnings per share. As a group, equities analysts expect that GameStop Corp. will post 0.01 earnings per share for the current year.

GameStop 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.