GameStop Corp. $GME Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lowered its holdings in GameStop Corp. (NYSE:GME) by 5.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,315,673 shares of the company’s stock after selling 199,233 shares during the period. Charles Schwab Investment Management Inc. owned 0.74% of GameStop worth $80,869,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its holdings in GameStop by 6.5% in the 2nd quarter. American Century Companies Inc. now owns 35,473 shares of the company’s stock valued at $865,000 after buying an additional 2,162 shares during the period. Rhumbline Advisers lifted its holdings in shares of GameStop by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 1,076,976 shares of the company’s stock worth $26,267,000 after acquiring an additional 9,036 shares during the period. Franklin Resources Inc. acquired a new stake in shares of GameStop in the second quarter worth approximately $275,000. Legal & General Group Plc grew its holdings in GameStop by 12.7% in the second quarter. Legal & General Group Plc now owns 851,977 shares of the company’s stock valued at $20,780,000 after purchasing an additional 95,795 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in GameStop by 28.3% in the second quarter. JPMorgan Chase & Co. now owns 1,025,993 shares of the company’s stock valued at $25,024,000 after purchasing an additional 226,234 shares during the period. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of GameStop in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $13.50.

GameStop Trading Up 4.7%

NYSE GME opened at $22.64 on Friday. The firm has a market capitalization of $10.14 billion, a price-to-earnings ratio of 31.01 and a beta of -1.00. The company has a debt-to-equity ratio of 0.80, a quick ratio of 10.79 and a current ratio of 11.37. GameStop Corp. has a one year low of $19.93 and a one year high of $35.81. The company’s 50 day moving average price is $23.17 and its 200 day moving average price is $24.26.

GameStop (NYSE:GME) last released its quarterly earnings data on Tuesday, September 9th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.06. GameStop had a net margin of 9.41% and a return on equity of 7.72%. The company had revenue of $972.20 million during the quarter, compared to the consensus estimate of $823.25 million. During the same period in the previous year, the firm earned $0.04 earnings per share. GameStop’s revenue for the quarter was up 21.8% on a year-over-year basis. On average, sell-side analysts predict that GameStop Corp. will post 0.08 EPS for the current year.

Insiders Place Their Bets

In related news, insider Daniel William Moore sold 6,509 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $27.58, for a total value of $179,518.22. Following the completion of the sale, the insider directly owned 112,620 shares in the company, valued at approximately $3,106,059.60. This represents a 5.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Mark Haymond Robinson sold 4,449 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $27.58, for a total value of $122,703.42. Following the completion of the transaction, the general counsel directly owned 112,302 shares in the company, valued at $3,097,289.16. This trade represents a 3.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 11,788 shares of company stock valued at $321,046. 8.58% of the stock is owned by corporate insiders.

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.