Vanguard Group Inc. Buys 2,036,032 Shares of GameStop Corp. (NYSE:GME)

Vanguard Group Inc. boosted its stake in shares of GameStop Corp. (NYSE:GME) by 5.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,144,063 shares of the company’s stock after purchasing an additional 2,036,032 shares during the quarter. Vanguard Group Inc. owned about 8.76% of GameStop worth $1,226,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GME. State Street Corp boosted its holdings in shares of GameStop by 38.0% in the 3rd quarter. State Street Corp now owns 11,143,759 shares of the company’s stock valued at $255,526,000 after buying an additional 3,070,571 shares in the last quarter. Geode Capital Management LLC grew its holdings in GameStop by 41.8% in the third quarter. Geode Capital Management LLC now owns 6,278,680 shares of the company’s stock worth $144,009,000 after purchasing an additional 1,852,088 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of GameStop by 22.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,502,910 shares of the company’s stock worth $80,322,000 after purchasing an additional 646,488 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of GameStop by 46.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,096 shares of the company’s stock valued at $17,750,000 after purchasing an additional 244,339 shares during the last quarter. Finally, Amundi acquired a new stake in shares of GameStop in the 4th quarter worth $5,332,000. Hedge funds and other institutional investors own 29.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. StockNews.com upgraded GameStop from a “sell” rating to a “hold” rating in a research note on Thursday. Wedbush reaffirmed an “underperform” rating and issued a $10.00 price objective on shares of GameStop in a research report on Monday.

GameStop Price Performance

Shares of GME opened at $21.89 on Friday. The firm has a market capitalization of $9.78 billion, a PE ratio of 121.64 and a beta of -0.29. The company’s fifty day moving average price is $25.48 and its 200-day moving average price is $25.66. GameStop Corp. has a 1-year low of $9.95 and a 1-year high of $64.83.

GameStop (NYSE:GME) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.21. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.48 billion. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The company’s revenue for the quarter was down 28.5% compared to the same quarter last year. During the same period last year, the business posted $0.21 earnings per share. As a group, research analysts anticipate that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at GameStop

In other news, insider Daniel William Moore sold 895 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $27,807.65. Following the completion of the transaction, the insider now owns 31,385 shares of the company’s stock, valued at $975,131.95. The trade was a 2.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $48,997.39. Following the sale, the general counsel now directly owns 42,350 shares in the company, valued at approximately $1,315,814.50. This trade represents a 3.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 12.28% of the company’s stock.

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.