GameStop Corp. (NYSE:GME) Stake Cut by Bleakley Financial Group LLC

Bleakley Financial Group LLC reduced its holdings in GameStop Corp. (NYSE:GME) by 50.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,994 shares of the company’s stock after selling 11,409 shares during the period. Bleakley Financial Group LLC’s holdings in GameStop were worth $252,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GME. Wellington Management Group LLP lifted its stake in GameStop by 312.2% in the 4th quarter. Wellington Management Group LLP now owns 77,097 shares of the company’s stock worth $1,352,000 after acquiring an additional 58,394 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of GameStop by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock worth $446,143,000 after acquiring an additional 167,145 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of GameStop by 21.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 12,025 shares of the company’s stock worth $211,000 after acquiring an additional 2,105 shares during the last quarter. State of Michigan Retirement System increased its stake in shares of GameStop by 2.5% in the first quarter. State of Michigan Retirement System now owns 66,000 shares of the company’s stock worth $826,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of GameStop by 2.6% in the first quarter. Principal Financial Group Inc. now owns 1,011,337 shares of the company’s stock worth $12,662,000 after acquiring an additional 25,159 shares during the last quarter. 29.21% of the stock is owned by hedge funds and other institutional investors.

GameStop Stock Down 1.9 %

GME stock opened at $20.54 on Thursday. The firm has a 50 day moving average of $21.66 and a two-hundred day moving average of $21.72. GameStop Corp. has a 12 month low of $9.95 and a 12 month high of $64.83. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of 256.75 and a beta of -0.19.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, September 10th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.09. GameStop had a return on equity of 1.79% and a net margin of 0.93%. The firm had revenue of $798.30 million during the quarter, compared to analyst estimates of $895.67 million. During the same period in the previous year, the company earned ($0.03) EPS. The company’s revenue for the quarter was down 31.4% on a year-over-year basis. On average, research analysts expect that GameStop Corp. will post 0.01 EPS for the current fiscal year.

Insider Activity at GameStop

In related news, General Counsel Mark Haymond Robinson sold 4,667 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $21.96, for a total value of $102,487.32. Following the transaction, the general counsel now directly owns 54,927 shares in the company, valued at approximately $1,206,196.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, General Counsel Mark Haymond Robinson sold 4,667 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total transaction of $102,487.32. Following the completion of the transaction, the general counsel now directly owns 54,927 shares in the company, valued at $1,206,196.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel William Moore sold 2,624 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $21.00, for a total value of $55,104.00. Following the transaction, the insider now owns 32,280 shares of the company’s stock, valued at approximately $677,880. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,639 shares of company stock worth $481,000. 12.28% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on GME shares. StockNews.com raised shares of GameStop to a “sell” rating in a research report on Saturday, October 19th. Wedbush decreased their target price on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating for the company in a research report on Wednesday, September 11th.

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.