Intech Investment Management LLC Invests $288,000 in GameStop Corp. (NYSE:GME)

Intech Investment Management LLC bought a new position in shares of GameStop Corp. (NYSE:GME) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 11,681 shares of the company’s stock, valued at approximately $288,000.

Several other hedge funds have also modified their holdings of GME. AlphaMark Advisors LLC raised its position in shares of GameStop by 41.7% during the 2nd quarter. AlphaMark Advisors LLC now owns 1,345 shares of the company’s stock worth $33,000 after purchasing an additional 396 shares during the last quarter. GAMMA Investing LLC raised its position in shares of GameStop by 32.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,064 shares of the company’s stock worth $51,000 after purchasing an additional 511 shares during the last quarter. Treasurer of the State of North Carolina raised its position in shares of GameStop by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 118,788 shares of the company’s stock worth $2,082,000 after purchasing an additional 1,160 shares during the last quarter. Swiss National Bank raised its position in shares of GameStop by 0.3% during the 1st quarter. Swiss National Bank now owns 542,828 shares of the company’s stock worth $6,796,000 after purchasing an additional 1,400 shares during the last quarter. Finally, CWM LLC raised its position in shares of GameStop by 115.6% during the 2nd quarter. CWM LLC now owns 2,660 shares of the company’s stock worth $66,000 after purchasing an additional 1,426 shares during the last quarter. 29.21% of the stock is owned by hedge funds and other institutional investors.

GameStop Price Performance

GameStop stock opened at $22.48 on Friday. The firm has a 50 day simple moving average of $22.16 and a 200-day simple moving average of $20.67. GameStop Corp. has a 1-year low of $9.95 and a 1-year high of $64.83. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of 281.00 and a beta of -0.17.

GameStop (NYSE:GME) last posted its quarterly earnings results on Tuesday, September 10th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.09. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The business had revenue of $798.30 million during the quarter, compared to analysts’ expectations of $895.67 million. During the same quarter in the prior year, the company posted ($0.03) EPS. The business’s revenue for the quarter was down 31.4% on a year-over-year basis. Equities analysts expect that GameStop Corp. will post 0.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on GME. StockNews.com upgraded shares of GameStop to a “sell” rating in a report on Wednesday. Wedbush cut their price objective on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating for the company in a report on Wednesday, September 11th.

Insider Activity

In related news, Director Lawrence Cheng acquired 4,140 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was purchased at an average price of $24.85 per share, with a total value of $102,879.00. Following the transaction, the director now owns 69,228 shares of the company’s stock, valued at approximately $1,720,315.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.28% of the company’s stock.

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.