M&T Bank Corp Invests $200,000 in GameStop Corp. (NYSE:GME)

M&T Bank Corp purchased a new position in shares of GameStop Corp. (NYSE:GME) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,370 shares of the company’s stock, valued at approximately $200,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New Wave Wealth Advisors LLC bought a new position in shares of GameStop during the fourth quarter worth $37,000. R Squared Ltd bought a new position in shares of GameStop during the fourth quarter worth $51,000. UMB Bank n.a. boosted its position in shares of GameStop by 59.9% during the fourth quarter. UMB Bank n.a. now owns 1,820 shares of the company’s stock worth $57,000 after purchasing an additional 682 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of GameStop during the fourth quarter worth $99,000. Finally, GAMMA Investing LLC boosted its position in shares of GameStop by 65.8% during the fourth quarter. GAMMA Investing LLC now owns 3,564 shares of the company’s stock worth $112,000 after purchasing an additional 1,414 shares in the last quarter. 29.21% of the stock is owned by institutional investors.

GameStop Stock Up 5.1 %

Shares of NYSE:GME opened at $23.08 on Friday. GameStop Corp. has a 12 month low of $9.95 and a 12 month high of $64.83. The company’s fifty day simple moving average is $26.65 and its 200 day simple moving average is $25.56. The firm has a market cap of $10.31 billion, a price-to-earnings ratio of 128.20 and a beta of -0.29.

Insider Buying and Selling

In other GameStop news, General Counsel Mark Haymond Robinson sold 1,577 shares of GameStop stock in a transaction on Friday, January 3rd. The shares were 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. The trade was a 3.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel William Moore sold 895 shares of GameStop stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction of $27,807.65. Following the completion of the sale, the insider now owns 31,385 shares in the company, valued at $975,131.95. The trade was a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.28% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Wedbush restated an “underperform” rating and set a $10.00 price objective on shares of GameStop in a 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.