Russell Investments Group Ltd. Lowers Position in GameStop Corp. (NYSE:GME)

Russell Investments Group Ltd. trimmed its position in GameStop Corp. (NYSE:GME) by 33.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,823 shares of the company’s stock after selling 1,393 shares during the period. Russell Investments Group Ltd.’s holdings in GameStop were worth $89,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of GameStop by 223.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company’s stock worth $31,000 after purchasing an additional 684 shares in the last quarter. New Wave Wealth Advisors LLC bought a new stake in GameStop in the fourth quarter worth $37,000. R Squared Ltd purchased a new stake in shares of GameStop in the fourth quarter worth $51,000. UMB Bank n.a. increased its holdings in shares of GameStop by 59.9% during the fourth quarter. UMB Bank n.a. now owns 1,820 shares of the company’s stock valued at $57,000 after acquiring an additional 682 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of GameStop by 32.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company’s stock worth $67,000 after purchasing an additional 520 shares during the last quarter. Institutional investors own 29.21% of the company’s stock.

Insider Activity at GameStop

In other news, insider Daniel William Moore sold 1,608 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total transaction of $36,228.24. Following the completion of the sale, the insider now owns 29,777 shares of the company’s stock, valued at $670,875.81. This represents a 5.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Cohen acquired 500,000 shares of the stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average price of $21.55 per share, for a total transaction of $10,775,000.00. Following the purchase, the chief executive officer now directly owns 37,347,842 shares in the company, valued at approximately $804,845,995.10. This trade represents a 1.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 515,000 shares of company stock worth $11,140,200 over the last quarter. Company insiders own 12.28% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on GME shares. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a research report on Thursday, March 27th. Wedbush set a $11.50 price target on shares of GameStop in a report on Wednesday, March 26th.

GameStop Trading Up 1.4 %

GameStop stock opened at $27.45 on Friday. The firm has a market cap of $12.27 billion, a price-to-earnings ratio of 152.51 and a beta of -0.44. GameStop Corp. has a 12 month low of $10.70 and a 12 month high of $64.83. The stock has a fifty day simple moving average of $24.67 and a two-hundred day simple moving average of $26.24.

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