GameStop Corp. (NYSE:GME) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of GameStop Corp. (NYSE:GME) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,519,313 shares of the company’s stock after selling 46,142 shares during the quarter. Bank of New York Mellon Corp owned 0.56% of GameStop worth $56,231,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of GME. Vanguard Group Inc. increased its position in shares of GameStop by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 39,144,063 shares of the company’s stock worth $1,226,775,000 after acquiring an additional 2,036,032 shares during the period. Slate Path Capital LP purchased a new position in GameStop in the fourth quarter valued at $60,361,000. D. E. Shaw & Co. Inc. increased its holdings in GameStop by 606.7% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,650,750 shares of the company’s stock valued at $51,735,000 after buying an additional 1,417,156 shares during the last quarter. Northern Trust Corp increased its holdings in GameStop by 26.2% in the fourth quarter. Northern Trust Corp now owns 3,171,303 shares of the company’s stock valued at $99,389,000 after buying an additional 659,345 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in GameStop by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 6,659,234 shares of the company’s stock valued at $208,769,000 after buying an additional 380,554 shares during the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

GameStop Stock Performance

NYSE:GME opened at $23.39 on Friday. The firm has a market capitalization of $10.46 billion, a PE ratio of 50.85 and a beta of -0.81. The business’s fifty day moving average price is $26.66 and its 200 day moving average price is $26.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 8.39 and a quick ratio of 7.89. GameStop Corp. has a 12 month low of $18.73 and a 12 month high of $35.81.

GameStop (NYSE:GME) last released its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.13. GameStop had a net margin of 5.67% and a return on equity of 5.25%. The company had revenue of $732.40 million during the quarter, compared to the consensus estimate of $754.23 million. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. GameStop’s revenue for the quarter was down 16.9% on a year-over-year basis. On average, sell-side analysts anticipate that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Insider Transactions at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 1,269 shares of the company’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $23.95, for a total value of $30,392.55. Following the completion of the transaction, the general counsel owned 127,836 shares in the company, valued at $3,061,672.20. This represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 12.28% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on GME. Wall Street Zen raised GameStop from a “sell” rating to a “hold” rating in a report on Thursday, March 27th. Wedbush raised GameStop to a “strong sell” rating in a report on Tuesday, July 1st.

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.