62,812 Shares in GameStop Corp. (NYSE:GME) Acquired by Cerity Partners LLC

Cerity Partners LLC purchased a new position in shares of GameStop Corp. (NYSE:GME) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 62,812 shares of the company’s stock, valued at approximately $1,402,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of GameStop by 223.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company’s stock valued at $31,000 after purchasing an additional 684 shares during the period. Bessemer Group Inc. boosted its stake in shares of GameStop by 67.2% in the fourth quarter. Bessemer Group Inc. now owns 1,720 shares of the company’s stock valued at $54,000 after purchasing an additional 691 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of GameStop by 32.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company’s stock valued at $67,000 after purchasing an additional 520 shares during the period. UMB Bank n.a. boosted its stake in shares of GameStop by 100.6% in the first quarter. UMB Bank n.a. now owns 3,651 shares of the company’s stock valued at $81,000 after purchasing an additional 1,831 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of GameStop by 69.9% in the first quarter. GAMMA Investing LLC now owns 6,056 shares of the company’s stock valued at $135,000 after purchasing an additional 2,492 shares during the period. Institutional investors and hedge funds own 29.21% of the company’s stock.

Insider Buying and Selling at GameStop

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

GameStop Price Performance

Shares of GameStop stock opened at $24.20 on Tuesday. The company has a quick ratio of 7.89, a current ratio of 8.39 and a debt-to-equity ratio of 0.30. GameStop Corp. has a twelve month low of $18.73 and a twelve month high of $35.81. The business has a 50-day moving average price of $26.34 and a 200 day moving average price of $26.21. The firm has a market cap of $10.83 billion, a PE ratio of 52.61 and a beta of -0.81.

GameStop (NYSE:GME) last issued its earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.13. GameStop had a return on equity of 5.25% and a net margin of 5.67%. The business had revenue of $732.40 million for the quarter, compared to analysts’ expectations of $754.23 million. During the same period in the previous year, the firm posted ($0.12) EPS. The business’s revenue for the quarter was down 16.9% compared to the same quarter last year. Sell-side analysts predict that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GME shares. Wall Street Zen upgraded shares of GameStop from a “sell” rating to a “hold” rating in a research report on Thursday, March 27th. Wedbush upgraded shares of GameStop to a “strong sell” rating in a research 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.