Amalgamated Bank Reduces Stock Position in GameStop Corp. (NYSE:GME)

Amalgamated Bank decreased its holdings in GameStop Corp. (NYSE:GME) by 7.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 136,364 shares of the company’s stock after selling 10,648 shares during the period. Amalgamated Bank’s holdings in GameStop were worth $3,367,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Texas Permanent School Fund Corp grew its stake in GameStop by 1.5% in the first quarter. Texas Permanent School Fund Corp now owns 235,081 shares of the company’s stock worth $2,943,000 after purchasing an additional 3,459 shares in the last quarter. Coatue Management LLC bought a new position in shares of GameStop during the 4th quarter worth $1,315,000. State of Michigan Retirement System increased its stake in shares of GameStop by 2.5% during the first quarter. State of Michigan Retirement System now owns 66,000 shares of the company’s stock valued at $826,000 after buying an additional 1,600 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in shares of GameStop by 2.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 194,764 shares of the company’s stock valued at $2,438,000 after buying an additional 5,411 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in shares of GameStop by 7.0% in the first quarter. BNP Paribas Financial Markets now owns 157,242 shares of the company’s stock valued at $1,969,000 after acquiring an additional 10,289 shares in the last quarter. 29.21% of the stock is currently owned by institutional investors.

GameStop Price Performance

Shares of GME stock opened at $22.28 on Tuesday. The stock’s 50-day moving average is $22.52 and its 200 day moving average is $20.53. GameStop Corp. has a 1-year low of $9.95 and a 1-year high of $64.83. The company has a market cap of $7.83 billion, a P/E ratio of 278.50 and a beta of -0.17.

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

Insider Transactions at GameStop

In other GameStop news, Director Lawrence Cheng bought 4,140 shares of GameStop stock in a transaction that occurred on Monday, July 8th. The shares were bought at an average cost of $24.85 per share, with a total value of $102,879.00. Following the transaction, the director now directly owns 69,228 shares of the company’s stock, valued at approximately $1,720,315.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Wedbush dropped their target price on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating on the stock in a report on Wednesday, September 11th. StockNews.com raised shares of GameStop to a “sell” rating in a report 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.