Merit Financial Group LLC Decreases Stock Position in GameStop Corp. (NYSE:GME)

Merit Financial Group LLC cut its stake in GameStop Corp. (NYSE:GME) by 23.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,347 shares of the company’s stock after selling 4,357 shares during the period. Merit Financial Group LLC’s holdings in GameStop were worth $450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of GME. UMB Bank n.a. lifted its stake in shares of GameStop by 535.8% in the 3rd quarter. UMB Bank n.a. now owns 1,138 shares of the company’s stock valued at $26,000 after purchasing an additional 959 shares during the last quarter. CWM LLC increased its holdings in GameStop by 19.9% during the 3rd quarter. CWM LLC now owns 3,189 shares of the company’s stock worth $73,000 after purchasing an additional 529 shares during the period. GAMMA Investing LLC lifted its stake in GameStop by 65.8% in the fourth quarter. GAMMA Investing LLC now owns 3,564 shares of the company’s stock worth $112,000 after acquiring an additional 1,414 shares during the last quarter. Centaurus Financial Inc. acquired a new stake in GameStop in the third quarter valued at $171,000. Finally, American Century Companies Inc. acquired a new position in GameStop in the second quarter valued at approximately $207,000. Hedge funds and other institutional investors own 29.21% of the company’s stock.

GameStop Stock Performance

GME stock opened at $28.33 on Friday. The stock has a market capitalization of $12.66 billion, a P/E ratio of 157.40 and a beta of -0.02. The company has a 50 day moving average price of $29.51 and a two-hundred day moving average price of $25.01. GameStop Corp. has a one year low of $9.95 and a one year high of $64.83.

GameStop (NYSE:GME) last announced its quarterly earnings data on Tuesday, December 10th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.09. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The company had revenue of $860.30 million during the quarter, compared to analysts’ expectations of $887.68 million. The firm’s quarterly revenue was down 20.2% compared to the same quarter last year. Research analysts forecast that GameStop Corp. will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Mark Haymond Robinson sold 1,577 shares of the 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 completion of the transaction, the general counsel now owns 42,350 shares of the company’s stock, valued at approximately $1,315,814.50. This represents a 3.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Daniel William Moore sold 895 shares of GameStop stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $27,807.65. Following the sale, the insider now owns 31,385 shares in the company, valued at $975,131.95. This represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GME shares. StockNews.com upgraded GameStop to a “sell” rating in a research note on Saturday, October 19th. Wedbush restated an “underperform” rating and set a $10.00 price objective on shares of GameStop in a research report on Friday, December 6th.

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.