GameStop Corp. (NYSE:GME) Shares Acquired by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC boosted its holdings in GameStop Corp. (NYSE:GME) by 6.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,686 shares of the company’s stock after purchasing an additional 848 shares during the quarter. Commonwealth Equity Services LLC’s holdings in GameStop were worth $429,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. CIBC Asset Management Inc grew its position in shares of GameStop by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 9,381 shares of the company’s stock worth $294,000 after acquiring an additional 502 shares during the last quarter. Christensen King & Associates Investment Services Inc. raised its holdings in shares of GameStop by 1.9% in the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 27,397 shares of the company’s stock valued at $853,000 after buying an additional 518 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of GameStop by 2.9% during the fourth quarter. Crossmark Global Holdings Inc. now owns 18,338 shares of the company’s stock worth $575,000 after buying an additional 523 shares during the period. Securian Asset Management Inc. grew its holdings in shares of GameStop by 1.8% during the fourth quarter. Securian Asset Management Inc. now owns 30,717 shares of the company’s stock worth $963,000 after buying an additional 557 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in GameStop by 11.1% in the 4th quarter. Fifth Third Bancorp now owns 5,648 shares of the company’s stock valued at $177,000 after acquiring an additional 566 shares during the period. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GME has been the topic of several analyst reports. Wedbush set a $11.50 target price on GameStop in a research note on Wednesday, March 26th. StockNews.com upgraded shares of GameStop from a “sell” rating to a “hold” rating in a research report on Thursday, March 27th.

Insider Buying and Selling

In other GameStop news, General Counsel Mark Haymond Robinson sold 4,687 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total value of $105,598.11. Following the sale, the general counsel now owns 37,663 shares of the company’s stock, valued at approximately $848,547.39. This represents a 11.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel William Moore sold 1,608 shares of GameStop stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $22.53, for a total value of $36,228.24. Following the transaction, the insider now directly owns 29,777 shares of the company’s stock, valued at $670,875.81. This trade represents a 5.12 % decrease in their position. The disclosure for this sale can be found here. 12.28% of the stock is owned by insiders.

GameStop Stock Up 10.6 %

NYSE GME opened at $23.34 on Friday. The stock has a market capitalization of $10.44 billion, a P/E ratio of 129.68 and a beta of -0.29. GameStop Corp. has a 52-week low of $9.95 and a 52-week high of $64.83. The firm has a 50-day moving average price of $24.83 and a 200 day moving average price of $25.73.

GameStop (NYSE:GME) last issued its earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.21. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the business posted $0.21 EPS. The company’s revenue for the quarter was down 28.5% on a year-over-year basis. On average, equities research analysts expect that GameStop Corp. will post 0.08 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.