GameStop Corp. (NYSE:GME) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its holdings in shares of GameStop Corp. (NYSE:GME) by 2.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,514,906 shares of the company’s stock after selling 95,358 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.79% of GameStop worth $78,453,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Bessemer Group Inc. increased its holdings in shares of GameStop by 67.2% during 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. UMB Bank n.a. grew its holdings in GameStop by 100.6% during the first quarter. UMB Bank n.a. now owns 3,651 shares of the company’s stock worth $81,000 after acquiring an additional 1,831 shares during the period. US Bancorp DE grew its holdings in GameStop by 92.5% during the first quarter. US Bancorp DE now owns 3,726 shares of the company’s stock worth $83,000 after acquiring an additional 1,790 shares during the period. Bogart Wealth LLC grew its holdings in GameStop by 100.0% during the first quarter. Bogart Wealth LLC now owns 4,000 shares of the company’s stock worth $89,000 after acquiring an additional 2,000 shares during the period. Finally, SBI Securities Co. Ltd. grew its holdings in GameStop by 31.8% during the first quarter. SBI Securities Co. Ltd. now owns 4,145 shares of the company’s stock worth $93,000 after acquiring an additional 1,000 shares during the period. 29.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wedbush raised GameStop to a “strong sell” rating in a report on Tuesday, July 1st.

Insiders Place Their Bets

In related news, General Counsel Mark Haymond Robinson sold 11,055 shares of GameStop stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $24.18, for a total value of $267,309.90. Following the transaction, the general counsel owned 116,781 shares of the company’s stock, valued at approximately $2,823,764.58. This trade represents a 8.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 13,075 shares of company stock valued at $315,685. Company insiders own 8.58% of the company’s stock.

GameStop Price Performance

NYSE:GME opened at $23.01 on Thursday. The business’s 50-day moving average price is $23.81 and its 200 day moving average price is $25.41. The firm has a market cap of $10.29 billion, a P/E ratio of 50.02 and a beta of -0.72. GameStop Corp. has a 52-week low of $19.31 and a 52-week high of $35.81. 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 (NYSE:GME) last issued 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 firm had revenue of $732.40 million for the quarter, compared to analysts’ expectations of $754.23 million. GameStop had a return on equity of 5.25% and a net margin of 5.67%. GameStop’s revenue was down 16.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.12) EPS. As a group, sell-side analysts predict that GameStop Corp. will post 0.08 earnings per share 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.