Federated Hermes Inc. Boosts Holdings in GameStop Corp. (NYSE:GME)

Federated Hermes Inc. raised its holdings in GameStop Corp. (NYSE:GME) by 43.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,360 shares of the company’s stock after purchasing an additional 8,552 shares during the period. Federated Hermes Inc.’s holdings in GameStop were worth $700,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. United Services Automobile Association lifted its stake in GameStop by 13.2% in the 4th quarter. United Services Automobile Association now owns 21,109 shares of the company’s stock valued at $370,000 after buying an additional 2,457 shares in the last quarter. Olympiad Research LP acquired a new stake in shares of GameStop during the fourth quarter valued at $259,000. Treasurer of the State of North Carolina increased its position in GameStop by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 118,788 shares of the company’s stock worth $2,082,000 after purchasing an additional 1,160 shares in the last quarter. Capstone Investment Advisors LLC acquired a new position in GameStop in the 4th quarter valued at about $859,000. Finally, Coatue Management LLC purchased a new position in GameStop in the 4th quarter valued at about $1,315,000. 29.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at GameStop

In other news, Director Lawrence Cheng bought 4,140 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were acquired at an average cost of $24.85 per share, with a total value of $102,879.00. Following the transaction, the director now owns 69,228 shares of the company’s stock, valued at approximately $1,720,315.80. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 12.28% of the stock is owned by company insiders.

GameStop Trading Up 12.0 %

NYSE GME opened at $21.85 on Monday. The company has a market capitalization of $7.67 billion, a PE ratio of 273.13 and a beta of -0.17. The business’s 50-day moving average price is $22.61 and its 200 day moving average price is $20.48. GameStop Corp. has a twelve month low of $9.95 and a twelve month high of $64.83.

GameStop (NYSE:GME) last released its earnings results on Tuesday, September 10th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.09. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The business had revenue of $798.30 million for the quarter, compared to analysts’ expectations of $895.67 million. During the same period last year, the company earned ($0.03) earnings per share. The company’s quarterly revenue was down 31.4% on a year-over-year basis. Equities analysts predict that GameStop Corp. will post 0.08 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on GME. StockNews.com upgraded shares of GameStop to a “sell” rating in a report on Wednesday, September 11th. Wedbush lowered their target price on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating for the company in a research note on Wednesday, September 11th.

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.