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

Cerity Partners LLC bought a new position in shares of GameStop Corp. (NYSE:GME) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 62,812 shares of the company’s stock, valued at approximately $1,402,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. boosted its position in shares of GameStop by 32.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company’s stock worth $67,000 after buying an additional 520 shares during the period. Fifth Third Bancorp increased its stake in shares of GameStop by 10.3% during the first quarter. Fifth Third Bancorp now owns 6,227 shares of the company’s stock worth $139,000 after purchasing an additional 579 shares during the period. Prudential Financial Inc. grew its position in GameStop by 2.3% during the fourth quarter. Prudential Financial Inc. now owns 28,134 shares of the company’s stock worth $882,000 after buying an additional 640 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in GameStop by 223.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company’s stock worth $31,000 after buying an additional 684 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in GameStop by 67.2% during the fourth quarter. Bessemer Group Inc. now owns 1,720 shares of the company’s stock worth $54,000 after buying an additional 691 shares in the last quarter. Institutional investors own 29.21% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, General Counsel Mark Haymond Robinson sold 1,269 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $23.95, for a total transaction of $30,392.55. Following the transaction, the general counsel directly owned 127,836 shares in the company, valued at approximately $3,061,672.20. This trade represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 12.28% of the stock is owned by corporate insiders.

GameStop Trading Up 4.0%

Shares of GameStop stock opened at $24.20 on Tuesday. 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 1-year low of $18.73 and a 1-year high of $35.81. The company’s fifty day simple moving average is $26.34 and its 200-day simple moving average is $26.21. The stock has a market capitalization of $10.83 billion, a PE ratio of 52.61 and a beta of -0.81.

GameStop (NYSE:GME) last announced its earnings results 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. The firm had revenue of $732.40 million for the quarter, compared to analysts’ expectations of $754.23 million. GameStop had a net margin of 5.67% and a return on equity of 5.25%. The business’s revenue was down 16.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.12) EPS. As a group, equities analysts anticipate that GameStop Corp. will post 0.08 earnings per share for the current 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.