Cerity Partners LLC Invests $1.40 Million in GameStop Corp. (NYSE:GME)

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 13F filing with the SEC. The firm purchased 62,812 shares of the company’s stock, valued at approximately $1,402,000.

Several other large investors also recently modified their holdings of GME. Nomura Asset Management Co. Ltd. boosted its holdings in 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 buying an additional 520 shares during the period. Fifth Third Bancorp lifted its holdings in shares of GameStop by 10.3% during the 1st quarter. Fifth Third Bancorp now owns 6,227 shares of the company’s stock worth $139,000 after acquiring an additional 579 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of GameStop by 2.3% during the 4th quarter. Prudential Financial Inc. now owns 28,134 shares of the company’s stock worth $882,000 after acquiring an additional 640 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of GameStop by 223.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company’s stock worth $31,000 after acquiring an additional 684 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of GameStop by 67.2% during the 4th quarter. Bessemer Group Inc. now owns 1,720 shares of the company’s stock worth $54,000 after acquiring an additional 691 shares during the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

Insider Transactions at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 1,269 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $23.95, for a total transaction of $30,392.55. Following the completion of the sale, the general counsel directly owned 127,836 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. 12.28% of the stock is currently owned by insiders.

GameStop Trading Up 4.0%

Shares of NYSE GME opened at $24.20 on Tuesday. The firm’s 50 day moving average price is $26.34 and its 200-day moving average price is $26.21. The company has a market cap of $10.83 billion, a PE ratio of 52.61 and a beta of -0.81. The company has a debt-to-equity ratio of 0.30, a quick ratio of 7.89 and a current ratio of 8.39. GameStop Corp. has a 52-week low of $18.73 and a 52-week high of $35.81.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GME shares. Wall Street Zen raised shares of GameStop from a “sell” rating to a “hold” rating in a report on Thursday, March 27th. Wedbush upgraded shares of GameStop to a “strong sell” rating in a research report on Tuesday, July 1st.

GameStop Company 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.